Solinity's first management project will address middle-market need
Solinity President and CEO Joshua Crisp, left, will lead the management team for Sierra Cove Group of Companies CEO Terry Scott’s newly acquired CaraVita Village community in Montgomery, AL.
Knoxville, TN-based Solinity has entered into its first management project, which is designed to fulfill a need in Montgomery, AL, for middle-market senior housing.
Solinity has partnered with Terry Scott, CEO of the Sierra Cove Group of Companies to manage Scott's newly acquired CaraVita Village community in Montgomery, AL. Joshua Crisp, founder, president and CEO of Solinity, will lead the management team.
“Right now, middle-class seniors do not have housing options that incorporate high-quality amenities, concierge services and the lifestyle they desire,” Crisp said. “Our industry needs to cater to this group — especially with more boomers retiring — and this is the first step toward reaching seniors who would not have these options otherwise.”
The National Investment Center for Seniors Housing & Care currently is assessing the national demand for middle-market seniors housing. Results of its study are expected to be released later this year.
NIC believes the information will be useful to capital providers and public policy experts and that public-private partnerships may be required to find solutions related to the housing and care needs of the “exploding” senior population, Robert Kramer previously told McKnight's Senior Living.
Solinity expects to renovate CaraVita Village, which has 168 independent living apartments, to add a spa and wellness center, new programming, healthcare coordination, concierge services and other changes. Floor plans will include single- and double-occupancy suites, the latter of which by design will foster new friendships and companionship in residents.
“In Montgomery, there is a tremendous need for affordable accommodations in an all-inclusive resort-style environment, much like a cruise ship that never leaves port. ...I am always looking for opportunities to acquire communities that need repositioning, and I hope to positively impact the lives of many seniors for years to come,” Scott said.