CORPUS CHRISTI - SQN Realty Finance LLC of Grapevine and Atlanta-based Thrive Senior Living LLC have acquired 3.4 acres on which to build the Village at Oso Bay, a 56-unit memory-care and assisted-living facility. Construction will launch in July 2013, with completion scheduled for first quarter 2014.
In addition to developing the property, Thrive Senior Living will manage it. Corpus Christi-based Ewing Construction Co. is the general contractor.
According to SQN principal Elizabeth Roll, the location was selected because of demand and its location near the 322-bed Corpus Christi Bay Area Medical Center on South Padre Island Dr.
"The demand in 2013 is 396 beds,” said SQN principal Elizabeth Roll. "There are only four dementia care facilities consisting of 90 beds located within the PMA [Primary Market Area]." Furthermore, the dementia facilities within the PMA are an average of 90 percent occupied.
Village at Oso Bay will be Thrive Senior Living's 14th property to develop or manage.
Read more at Globe St.
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