Green Cay Life Plan Village announced plans for a $250 million development in Boynton Beach, Florida. The 15-acre site at Jog Road and Flavor Pict Road will be developed by BRP Senior Housing Management LLC (an affiliate of Big Rock Partners) and Greenbrier Development LLC. The resort-like CCRC will comprise around 170 independent living, 16 assisted living and 16 memory care units in a three-story, 340,000-square-foot building. That puts the development cost at more than $1.2 million per unit. Amenities will include multiple dining options, a bar and bistro, fitness and wellness centers, yoga studio, salon, movie theater, multi-purpose spaces, a pool, patios and outdoor areas, as well as access to the adjacent Green Cay Nature Center.
The community’s buy-in costs are expected to begin in the mid-$600,000s. It is expected to break ground in 2024 for completion in 2026. Chicago-based investment bank Ziegler underwrote a $36 million bond anticipation note issued through the Palm Beach County Health Facilities Authority for the $18.6 million land acquisition and soft costs.
