Active adult development activity continues at a steady pace. MedCore Partners announced the construction of the second phase of its senior living project in Cypress, Texas (Houston MSA), along with a new partner, ACRON USA. Opened in 2018 with the help of The National Realty Group, Phase I of Spring Cypress Senior Living includes 80 units of assisted living and memory care, but Phase II will include 138 new active adult and independent living units. The new units will consist of apartments, cottages and townhomes, plus a 12-unit expansion of the existing memory care portion.
MedCore is partnering with Orcutt Winslow for architectural and engineering services, Faulkner Design Group for interior design and Pacheco Koch for landscaping services. BOK Bank provided construction financing for the $93 million project, which is expected to be open by September 2024 with an earlier completion schedule of late 2023 planned for the cottages and townhomes.
Integral Senior Living currently operates the community. This project is the fifth senior living ground-up development for Dallas-based MedCore Partners, which has also acquired 16 senior living communities in six states.
