Watercrest Senior Living Group is opening another seniors housing community in the Southeast just a couple of months after announcing the grand opening of its 107-unit community in Winter Park, Florida, and the groundbreaking of another 98-unit community in Myrtle Beach, South Carolina. To open a new community these days must be a difficult task, let alone two, so we hope lease-up is going smooth and steady.
The most recent project is located in Lancaster, South Carolina, on the outskirts of Charlotte, NC. It features 107 units, split between 75 assisted living and 32 memory care, and most of the amenities you would find at a Watercrest community: pool, spa, multiple dining venues and its Market Street Residence streetscape with a host of other services.
Watercrest developed the community in partnership with Shiel Sexton and Waypoint Residential. This was the second seniors housing development project Watercrest has actually completed with Waypoint, after the recent opening of their community in Newnan, Georgia.
We covered the groundbreaking two and a half years ago, back when this represented Waypoint’s entry into the sector. Since then, the vertically integrated real estate investment firm, focused on the multifamily and student housing markets, has made three other acquisitions in the seniors housing space, including two this year, for more than $93 million in combined investment.
