MedCore Partners and TNRG recently issued a press release announcing the start of construction on The Hacienda at Georgetown, a 230-unit senior living community on the northwest corner of Williams Drive and Del Webb Blvd. in Georgetown, Texas. The community sits on a 13.15-acre tract situated at the south entrance to Sun City Texas, an extensive master planned active adult community. The resort-style senior living campus will offer 125 Independent Living residences, 81 Assisted Living apartments and 24 Memory Care units.
The $85 million project is the first part of a two-phase, $115 million campus. The second phase will offer another 84 independent living residences and additional upscale amenities. The campus will feature multiple dining venues, a resort pool with cabanas, outdoor restaurant and entertainment pavilion, a wellness concept complete with a spa, salon and fitness center, theater, pub, bistro, walking paths, recreation areas, and more. The primary restaurant, bar, as well as the salon and spa, will be open to the public.
Watermark Retirement Communities will manage the property, which is similar in design scope to several other resort-style senior living campuses successfully managed by the Tucson-based group. Watermark will oversee all programs and services to include valet and concierge services. The fee structure is rental-only. The project is slated to open in late 2022.
“This project has been several years in the making, and we are pleased to begin construction on what we feel will be the premier senior living destination in the Hill Country,” said Michael Graham, Partner at MedCore. “Under Watermark’s management, The Hacienda at Georgetown is committed to offering a lifestyle in a senior living destination that directly matches what its residents have come to expect.”
The Hacienda at Georgetown is being financed by BOK Financial with LP Equity provided by Tulsa-based ACRON USA. REES Architects provided the architectural and engineering services for the project. Austin-based Studio Six5 is the interior design firm, with landscape services by Pacheco Koch.
The project is the fourth senior living development for Dallas-based MedCore Partners and Houston-based TNRG. The group also owns thirteen senior living communities in Texas, Arizona, Utah, California, and Washington State by way of acquisition.