Senior living company Belmont Village and not-for-profit healthcare organization Baptist Health South Florida have formed a joint venture to develop, own and operate senior living communities in South Florida, the companies announced Friday.
“Our aim with this partnership is nothing short of reinventing wellness and quality of life for seniors in South Florida,” Belmont Village founder and CEO Patricia Will said. “Thanks to the richness of experience each team brings, we have the potential to change the paradigm for lifestyle and care for the extraordinary elderly population in this region.”
The area initially targeted by the partnership will include Miami-Dade, Broward, Palm Beach and Monroe counties.
The joint venture’s first project will be Belmont Village Coral Gables, construction on which is projected to start in mid-2020 and be complete within two years afterward. Belmont Village will manage development and operation of the community, which will offer independent living, assisted living and memory care.
Belmont Village currently has 29 properties, with a total of approximately 4,000 units, in seven states and Mexico City, Mexico. Projects under construction and projected to open this year include Belmont Village Lincoln Park in Chicago and Belmont Village Fort Lauderdale, Fort Lauderdale, FL.
Baptist Health has 10 hospitals, more than 40 physician practices and 50 outpatient and urgent care facilities.