$26.7 million development expected to be complete in late 2016
Construction of a $26.7 million seniors housing and care facility in Conroe, TX, is expected to be complete in late 2016, according to Lancaster Pollard.
Woodhaven Village will be a 140-unit community consisting of 60 independent living units, 60 assisted living units and 24 memory care beds. The company's proprietary private equity program, Propero Seniors Housing Equity Fund, recently partnered with a joint venture mainly consisting of Paradigm Senior Living, the land owners and passive individual investors for the development. Propero is the sole owner of the project.
“We have been working on the Woodhaven development for almost two years, and we appreciate the input, resources and industry expertise that the Propero team brought to the table,” said Lee Cory, president of Paradigm Senior Living. “We couldn't be more pleased to be partnering with them on this development.”
Construction on the entire facility began in summer.