KANSAS CITY, MO – March 5, 2018 – Hunt Midwest Real Estate Development has acquired a 6.4-acre site in Royal Palm Beach, Florida, advancing plans to build its first senior housing community outside the Kansas City metro.
The Capstone at Royal Palm, an assisted living and memory care community, will feature 84 well-appointed studio and one- and two-bedroom suites with accommodations for up to 114 residents. The two-story, 76,200 square foot community will exhibit a resort-like feel with Mediterranean architecture and lush, tropical landscaping throughout its expansive grounds. Residents will enjoy an assortment of spacious and inviting indoor and outdoor amenities designed to promote an engaging, social lifestyle including a great room, formal dining room, fitness center, bistro lounge, sunroom, walking trails, gazebo and dog park. The Capstone at Royal Palm’s memory care neighborhood will offer specialized care in a secure environment.
“To continue our growth in the senior housing space, Hunt Midwest began looking at dynamic markets in the southeast to develop first-class assisted living and memory care communities,” said Ora Reynolds, president and CEO of Hunt Midwest. “About that time, the Village of Royal Palm Beach recognized a desire to provide its senior population with assisted living and memory care services in quality projects or risk losing their residents to neighboring communities. The timing was ideal for us to meet that need, which led to our purchase of this highly desirable infill site right on Okeechobee Boulevard just three-fourths of a mile west of Highway 441 / State Road 7.”
With this expansion into the southeast comes a new partnership for Hunt Midwest, who has aligned with Integral Senior Living (ISL) to operate The Capstone at Royal Palm. “We know that having an accomplished operating partner is paramount to the success of our senior housing communities,” said Reynolds. “ISL has set the benchmark nationally with the superior level of care it provides to its residents. ISL’s upstanding reputation and history of sustainable property management is consistent with the values and goals set by our team at Hunt Midwest. Its knowledge and experience in the senior housing industry will make The Capstone at Royal Palm a premier community for seniors in Palm Beach County.”
Construction will commence on The Capstone at Royal Palm in the fall of 2018 with an anticipated project completion in late 2019. Hunt Midwest utilized Rocky Goins and Associates, LLC as land acquisition consultant and has selected Pi Architects to lead the overall design. Proctor Construction will serve as the general contractor.
In addition to the purchase of the Royal Palm Beach site, Hunt Midwest recently signed contracts to purchase land in Mt. Juliet and in Gallatin, two high growth suburbs of Nashville, Tennessee for the construction of additional Capstone senior housing communities.
About Hunt Midwest
Hunt Midwest is a full-service real estate development company with a focus on industrial, commercial, retail, mission critical, multifamily, seniors housing and master planned communities. Its portfolio is anchored by SubTropolis, the world’s largest underground business complex. Hunt Midwest is a Kansas City-based, privately held company owned by the Lamar Hunt family. The Hunt family business is a diverse portfolio of entities involved in real estate, sports/media, energy/resources, private equity and investments. Marquee entities include the Kansas City Chiefs, Hunt Midwest, Hunt Southwest, FC Dallas Soccer Club, Toyota Stadium, Chicago Bulls and United Center. More information at HuntMidwest.com.
Integral Senior Living (ISL) manages a progressive selection of more than 85 senior residences to meet the growing needs of today’s aging population. It manages independent, assisted living and memory care properties in more than 18 states. Ranked among the nation’s largest senior living providers, according to Senior Living Executive, ISL is founded on a care philosophy that fosters dignity and respect for residents and promotes their independence and individuality. The dedicated associates at each community are trained to maintain the highest standards of senior care services. For more information about ISL, visit Integral Senior Living’s website, blog and Facebook page. ISL’s sister development company, ISL Ventures, LLC, works nationally with strategic partners to identify, create, evaluate, design and secure development and acquisition opportunities which will thrive under ISL’s management.