Ryan Companies USA Inc. expects to break ground within 30 days on Grand Living at Tamaya, a $40 million, 171-unit independent, assisted-living and memory-care development at northeast Kernan and Beach boulevards.
Eric Anderson, Ryan Companies vice president of development for senior living, said construction should start by the end of November and be completed in spring 2019.
Anderson said Ryan hasn’t begun marketing to residents, but has been talking with equity groups about investment and received “significant interest.”
Anderson said the almost $3.3 million purchase of 6.08 acres closed Friday.
Ryan Companies US Inc. bought the property from Tamaya Loan Acquisition Group LLC, whose managing member is associated with ICI Homes.
Tamaya is an ICI Homes community.
Ryan Companies is a builder, designer and developer. It owns one-third interest in Grand Living Management, which is its strategic operating partner.
Both are based in Minneapolis.
Ryan Companies will build and develop the project and Grand Living will operate it. Anderson said Ryan will partner with an equity group to be part of the ownership.
The site is next to ICI Homes’ Tamaya development and is near Jacksonville Golf & Country Club as well as the traffic along Beach and Kernan boulevards.
Anderson said the location is about visibility. Commuters may drive by many times and not think about it.
“You will remember where it is when you do need it,” he said.
Anderson said marketing senior living usually means “marketing to the oldest daughter.”
He said adult children often prefer to move aging parents near them rather than relocate.
“We have had great success around gated communities,” he said.
Grand Living at Tamaya is designed as an age-in-place community for its 137 units for independent and assisted-living residents.
“We bring the care to where you are,” Anderson said, explaining residents won’t have to move when they need more assistance.
However, memory-care residents would move to the 34-unit secure environment designed for those living with dementia.
Amenities include five dining venues with multiple menu offerings; a “Grand Spa” featuring personal fitness and a fitness trainer, group fitness, massage and an outdoor pool; a performance theater; a library and club room; and pet grooming.
“Boomers want choice,” Anderson said, referring to the generation reaching retirement age.
He said the performance theater will be available for youth recitals.
“We are going to partner with colleges and schools and we want to be a recital center,” he said.
“Seniors love that. They will be the biggest cheerleaders for the kids.”
Grand Living will maintain a registered nurse 24/7 as well as licensed practical nurses.
Anderson said the group will market the property eight to 10 months before opening.
Four elevators will serve the four-story, 200,000-square-foot building.
Units comprise studio, one- and two-bedrooms, with dens available for the one- and two-bedroom apartments.
Rental rates have not been determined, Anderson said.
Dan Peterka, president and CEO of Grand Living, said he was working through the pricing structure.
“Our philosophy is we will be in line with the market, but we plan to have higher value,” he said.
“You are going to feel like you are a very high-end resort,” he said.
The sizes will range from 450 to 1,200 square feet. Some units will have decks and fireplaces, and the 137 independent and assisted-living units will have kitchens with appliance packages and granite countertops.
Grand Living will hire 80-90 employees to provide care, food service, maintenance, activities and other functions by the time the community is full.
Anderson said they will work across three shifts and account for a payroll and benefits of $3.5 million.