A group of senior living industry entrepreneurs has launched what they term the “anti-traditional senior living company,” designed to better meet the needs of baby boomers.
Wellness Enhanced Lifestyle Living will be a collection of wellness-centric senior living brands, designed with the varying senior population in mind. The firm has plans for four distinct real estate development profiles: an Aura brand, which will be made up of luxury mixed-use continuum communities; a Varcity brand, which will be university-based continuum communities; a Cogent brand, for the middle-market active adult and co-living communities, and a Perennial, which will be middle-market continuum communities.
The firm’s Varcity brand is currently working with a Big 10 university for its inaugural development and is in discovery with three additional colleges, WELL reported Wednesday. The firm also has plans to announce its first two Cogent hub-and-spoke markets in the Southwest and Mountain West early next year. Each will feature five separate developments across the metropolitan areas.
WELL’s leadership team includes Dave Mazurek, formerly founder of Sterling Bay’s senior living platform and part of real estate investment trust Ventas’ development team; Mandy Serrano, formerly with Holiday Retirement, Avamere and Atlas; Ryan Haller, who most recently was Avamere’s chief development officer and founded Ovation and Point Development Co.
“Demography is destiny,” Mazurek said in a press release announcing the firm’s launch. “It’s no secret that baby boomers will enter senior living in masses between 2025 and 2035, but what’s unique are their preferences. Our brands are individually designed to serve unmet needs, such as affordability, without compromising a wellness lifestyle.”
WELL expects to announce its board of directors, capital partners and additional development plans in the first quarter of next year.