ROUND ROCK, TX-Locally based Remington Medical Resorts is on its way toward reaching a goal to develop 15 resort-style skilled-nursing facilities in three to five years. Construction on the first project is underway in San Antonio and the second one has just broken ground in Richardson, TX.

The $11-million, 60-unit Remington Medical Resort-San Antonio will open in early 2009 at the intersection of Babcock and Hamilton Wolfe roads. The 90-unit Remington Medical Resort-Richardson at 1350 E. Lookout Dr., also a 2009 completion, is going vertical for $12.5 million.

According to company CEO Mark Fritz, the company also has the go ahead for a third facility in Sugar Land, TX, and the permit review process is underway for one in Lone Tree, CO. The company also has just closed on land in Southlake, TX. “We have other pieces of property that are in due diligence,” he tells GlobeSt.com.

Fritz says Remington Medical Resorts is looking for land in major metropolitan markets, with at least one million people. The ideal land size is 2.5 acres, and if the acreage is near a medical center or hospital so much the better.

Fritz’s goal in creating the resorts is to provide skilled nursing and rehabilitation services for transitional patients, such as those requiring knee or hip surgery. “There is a growing population needing to come in for rehab for two, three or four weeks, then going home,” he says.

The problem is many nursing facilities are geared toward long-term care of older people. “I’ve seen companies out there attempt to convert a wing of an already existing nursing facility to try to accommodate the younger, short-term population,” Fritz explains. “It’s not a great experience for the patient.” Unlike many longer-term facilities, Remington Medical Resorts feature private rooms, complete with private bathrooms.

Greg Daspit, division manager for Dallas-based architect Mayse & Associates Inc., says the design was geared toward providing the practicality of a skilled-nursing center with the look and feel of a resort. “This kind of operates halfway between a hotel and a medical therapy center,” he explains. “There are the therapy rooms for rehab and pool therapy and hallways wider than a standard hotel. Otherwise, it has the resort feel.”

Fritz, who co-founded Trisun Health Care in Austin, TX with Lou Little some years ago, says once the 15 medical resorts are built, the plan is to stop and re-evaluate the next step. He points out that he and Little acquired six homes with Trisun Health Care and grew it to 30 during a five-year period. “After we got to that point, we had to evaluate and ask if we wanted to take that next step up,” he says. “We’ll do the same thing with these.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.