REDICO, a Michigan-based real estate development and investment company, announced its next American House project, called Coconut Point, in Estero, Florida. The project is the second for REDICO in southwest Florida and will include 54 independent living units, 76 assisted living units and 64 memory care units. It’s in a prime location, as across the street is a 140-store mall, and just north of Coconut Point will be Lee Memorial Health System’s planned $140 million Estero healthcare village, which is scheduled to open in 2017. American House is based in Michigan and currently has over 40 communities open in that state, mostly in the Detroit metro area, and after it became an affiliate of REDICO in 2008, it began to look southward. Last year, it started construction on the 130-unit American House Bonita Springs, which when it opens this Spring will be the first American House community outside of Michigan (while Coconut Point will be the second). The company did not disclose the development cost of either property. The Estero area, located in between Fort Myers and Naples, seems to be on the mind of many senior care developers these days. Discovery Village broke ground in December 2013 on its Discovery Village in Naples, with 30 IL, 60 AL and 30 MC units, which will cater to a higher income bracket than American House, which aims to provide for middle income retirees, largely from the Midwest, with rents ranging from $3,000 a month for IL up to $5,490 for a one-bedroom memory care suite. Watercrest Senior Living also recently broke ground on Pelican Landing in Bonita Springs, a $17 million, 89-unit assisted living community with 26 units for memory care. There are also three other assisted living communities in Estero alone currently going through the zoning process. With a busy Sarasota market too, southwest Florida is the place to watch.