senior housing ALLEN, TX—The baby boomer generation, the largest US demographic group, turned 70 years old this year resulting in an increased need for senior rental housing. To meet the growing demand for moderately priced retiree rental housing or active adult rentals, construction is underway on the new 243-unit apartment property named Alders at Twin Creeks . It's aimed at baby boomers with a minimum age of 55. The developers are Drever Capital Management of Tiburon, CA and The Alder Group of Allen, TX. Drever Capital Management said the concept will have extensive activities, amenities, flexibility and a resort-like atmosphere. The first phase will be completed in December 2017, with the brand being rolled out nationwide. This jointly developed residential community is located off Highway 75 in the master-planned community of Twin Creeks. The location is adjacent to a six-acre park and within a half mile of both the Twin Creeks Hospital and Texas Health Presbyterian Hospital Allen . It is minutes away from The Village at Fairview with Walmart, Target, Macy's, Whole Foods and the Allen Premium Outlet Mall . Maxwell Drever , chairman of Drever Capital Management, tells GlobeSt.com: “Our goal is to create a thriving a senior living community that gives the baby boomer market choices, camaraderie and an individual, active lifestyle without rigid scheduling. Dallas has always been at the forefront of rewarding yourself for a job well done and a life well lived, and this community will recognize that cost effectively.” Noah Drever , senior managing partner of Drever Capital Management, believes the new brand exemplifies the firm's socially impactful commitment by helping solve the affordability crisis plaguing seniors today. “On average, our units are larger with better appliances, finishes and floor plans than traditional senior housing,” he says. “We are able to offer class-A living accommodations and location at a rental price point that is substantially below traditional independent living communities.” Alders at Twin Creeks will occupy eight acres and will feature an 18,000 square foot recreational area with an oversized pool, cabanas and commercial outdoor grill kitchen. Additional community amenities include a fitness spa, movie theater featuring SMART Board screening technology, arts and crafts studio, pet park, epicurean café and complementary shuttle service to and from the metro. Each unit has its own balcony and comes equipped with granite countertops, GE stainless steel appliances, side-by-side washer/dryers, energy-efficient lighting, and water heating and eco-friendly plank flooring. Competitively priced rental rates will start near $1,400 per month. Homes range in size from 730 square-foot one-bedrooms to 1280 square-foot two-bedroom, two-bath units. Co-developer Tim O'Hanlon , president of The Alder Group, says the apartments will be “vibrant and architecturally distinctive. Maxwell Drever and his team are the ideal partner. They've been buying, upgrading and redeveloping lifestyle apartments and senior communities for the workforce middle income resident for 45 years. We also specialize in high-end apartments and have the same mindset—develop lasting tenant relationships and make the everyday extraordinary.” Drever Capital Management and The Alder Group were introduced by Dallas apartment broker, Bryan O'Boyle , senior vice chairman of ARA, A Newmark Company , who says the “phenomenal location sealed the deal” for the partners. He contends Allen's explosive growth is ideal for active adult residents who want to be close to their children, grandchildren and great grandchildren. Allen, Texas has been described as the “jewel” of the Dallas metro. The city's median annual income is $101,000 compared to $58,000 for Dallas/Fort Worth. Some 62% of Allen's residents are white collar professionals and there's a wave of baby boomers flooding into the 55 to 75 demographic, according to local officials. The city of Allen is also experiencing strong growth in employers and in the workforce, says Dan Bowman , executive director of Allen Economic Development Corp. Toyota's North American headquarters is relocating there. State Farm Insurance's large Cityline development is underway. Kone Elevators and Escalators is moving in. The local workforce is projected to grow 16.9% annually through 2019, almost triple the national average of 5.9%. “Senior rental housing will do very well in Allen, especially if it is moderately priced,” says Bowman. Steve McCoy , president of Drever Construction Co. in Dallas, will oversee the addition of residential and recreational amenities, and will work alongside the general contractor, KWA Construction Co. of Dallas, which is building Alders at Twin Creeks. Architect Frank Polacio , principal of Architectura of Plano, TX, was commissioned to design the property. senior housing ALLEN, TX—The baby boomer generation, the largest US demographic group, turned 70 years old this year resulting in an increased need for senior rental housing. To meet the growing demand for moderately priced retiree rental housing or active adult rentals, construction is underway on the new 243-unit apartment property named Alders at Twin Creeks . It's aimed at baby boomers with a minimum age of 55. The developers are Drever Capital Management of Tiburon, CA and The Alder Group of Allen, TX. Drever Capital Management said the concept will have extensive activities, amenities, flexibility and a resort-like atmosphere. The first phase will be completed in December 2017, with the brand being rolled out nationwide. This jointly developed residential community is located off Highway 75 in the master-planned community of Twin Creeks. The location is adjacent to a six-acre park and within a half mile of both the Twin Creeks Hospital and Texas Health Presbyterian Hospital Allen . It is minutes away from The Village at Fairview with Walmart, Target, Macy's, Whole Foods and the Allen Premium Outlet Mall . Maxwell Drever , chairman of Drever Capital Management, tells GlobeSt.com: “Our goal is to create a thriving a senior living community that gives the baby boomer market choices, camaraderie and an individual, active lifestyle without rigid scheduling. Dallas has always been at the forefront of rewarding yourself for a job well done and a life well lived, and this community will recognize that cost effectively.” Noah Drever , senior managing partner of Drever Capital Management, believes the new brand exemplifies the firm's socially impactful commitment by helping solve the affordability crisis plaguing seniors today. “On average, our units are larger with better appliances, finishes and floor plans than traditional senior housing,” he says. “We are able to offer class-A living accommodations and location at a rental price point that is substantially below traditional independent living communities.” Alders at Twin Creeks will occupy eight acres and will feature an 18,000 square foot recreational area with an oversized pool, cabanas and commercial outdoor grill kitchen. Additional community amenities include a fitness spa, movie theater featuring SMART Board screening technology, arts and crafts studio, pet park, epicurean café and complementary shuttle service to and from the metro. Each unit has its own balcony and comes equipped with granite countertops, GE stainless steel appliances, side-by-side washer/dryers, energy-efficient lighting, and water heating and eco-friendly plank flooring. Competitively priced rental rates will start near $1,400 per month. Homes range in size from 730 square-foot one-bedrooms to 1280 square-foot two-bedroom, two-bath units. Co-developer Tim O'Hanlon , president of The Alder Group, says the apartments will be “vibrant and architecturally distinctive. Maxwell Drever and his team are the ideal partner. They've been buying, upgrading and redeveloping lifestyle apartments and senior communities for the workforce middle income resident for 45 years. We also specialize in high-end apartments and have the same mindset—develop lasting tenant relationships and make the everyday extraordinary.” Drever Capital Management and The Alder Group were introduced by Dallas apartment broker, Bryan O'Boyle , senior vice chairman of ARA, A Newmark Company , who says the “phenomenal location sealed the deal” for the partners. He contends Allen's explosive growth is ideal for active adult residents who want to be close to their children, grandchildren and great grandchildren. Allen, Texas has been described as the “jewel” of the Dallas metro. The city's median annual income is $101,000 compared to $58,000 for Dallas/Fort Worth. Some 62% of Allen's residents are white collar professionals and there's a wave of baby boomers flooding into the 55 to 75 demographic, according to local officials. The city of Allen is also experiencing strong growth in employers and in the workforce, says Dan Bowman , executive director of Allen Economic Development Corp. Toyota's North American headquarters is relocating there. State Farm Insurance's large Cityline development is underway. Kone Elevators and Escalators is moving in. The local workforce is projected to grow 16.9% annually through 2019, almost triple the national average of 5.9%. “Senior rental housing will do very well in Allen, especially if it is moderately priced,” says Bowman. Steve McCoy , president of Drever Construction Co. in Dallas, will oversee the addition of residential and recreational amenities, and will work alongside the general contractor, KWA Construction Co. of Dallas, which is building Alders at Twin Creeks. Architect Frank Polacio , principal of Architectura of Plano, TX, was commissioned to design the property.
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