ATLANTA—The healthcare commercial real estate sector is still plowing through the recovery with dollars to invest in both acquisitions and development. The latest example is comes via The LaSalle Group.
The LaSalle Group is known for developing specialized, assisted living communities for people living with Alzheimer’s and other forms of dementia. The firm just announced plans to develop an Autumn Leaves-branded facility, its first memory care community in Northeast Atlanta. Constant Care Family Management will manage, design, and operate the senior housing facility.
There will be more than 140,000 individuals diagnosed with Alzheimer’s and in need of memory care across Georgia by 2020, according to the Alzheimer’s Association. The LaSalle Group developed strong partnerships with Frost Bank and Silverado Interests to get the nearly $10 million project underway in Gwinnett County. The project is also creating more than 200 jobs.
“Approximately 155 construction contractors touch our site during the community’s lifecycle, while 45 Autumn Leaves caregivers, nurses and care staff round out the total,” Jason Dupont, financial director of The LaSalle Group, said in a statement. “All of these individuals have a strong commitment to our mission for providing a memory care community of passionate people, understanding hearts and open arms to the Sugarloaf area.”
The LaSalle Group plans to break ground on the Sugarloaf Autumn Leaves community in the next few weeks and expects a grand opening in early 2013. The Autumn Leaves standard is 26,000 square feet.
“While the common belief that the real estate sector is in poor health, the commercial sector is tightening rapidly and demand for large spaces is on the increase,” Jones Lang LaSalle managing director Chris Butler tells GlobeSt.com. “While all sectors seem to be rebounding, we are seeing a great deal of activity from the healthcare sector.”
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