A relatively new developer in seniors housing, but founded by owners (Lori Alford and Tim Hekker) with plenty of experience in the industry, Avanti Senior Living is continuing its development pipeline, announcing its next project in Covington, Louisiana. Designed with the local style in mind, the planned community will resemble a large manor house, featuring 60 assisted living units and 50 memory care units. Rents will begin at $3,800 per month and go up based on care levels. At a development cost of $21 million, or 190,900 per unit, the community is on the higher end in terms of cost (the average for AL/MC new construction projects in the Southeast, excluding Florida, is approximately $156,800 per unit). Currently, Avanti has one community open, in Cypress, Texas, but has three projects in progress (or in planning) in Texas and three in Louisiana (including in Covington). In addition, the developer has its eye on the Arizona, Georgia and Florida markets.
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