Construction is set to begin now that Orlando, FL-based ZOM Senior Living; Wilmington, NC-based Liberty Senior Living; and funds managed by an affiliate of Ares Management Corp. have closed on construction financing for the development of Wellington Bay in western Palm Beach County. It’s the first rental senior living community for ZOM and the first community in Florida for Liberty.
“We formed ZOM Senior Living to capitalize on this growing segment of the renter pool, and we plan to offer the same thoughtfully designed living spaces, amenities and broad array of services to our senior residents as we provide in our traditional market-rate rental communities,” ZOM Living CEO Greg West said.
The property is a 46-acre lakefront parcel. The first phase of the senior living community will include 283 independent living, assisted living and memory care units.
“This project represents a huge milestone for our entrée into the senior living space,” ZOM Senior Living Vice President Brett Gelsomino said. “Wellington Bay is our first senior living project to break ground within our growing national pipeline.”
The centerpiece of the community will be a two-story, 65,000-square-foot clubhouse and amenity building with multiple dining venues, indoor and outdoor swimming pools, spa, salon and wellness center, billiards and cards room, and a theater. The rental senior living community will offer single-story villas with attached garages, three-story garden flats, and residences within a six-story building, attached directly to the main amenity building. At full build-out, the project is expected to include 424 units.
Operating partner Liberty Senior Living is a subsidiary of North Carolina-based Liberty Healthcare.
“The large size of the Wellington site gives us the opportunity to create a unique, resort-style seniors community in close proximity to well-established retail shops and dining venues,” Liberty Healthcare Chief Development Officer Will Purvis said. “We have the ability to create a number of different residential formats and levels of healthcare services, and to maintain significant green space for the enjoyment of all of our residents.”