Tuesday, July 09, 2013

Dallas Senior Housing Project Opens This Summer Near Turtle Creek

Developers who are building a luxury seniors housing project near Turtle Creek hope to have the project ready by August.
The Belmont Village Senior Living project is being built on a site overlooking Lee Park in Oak Lawn.
The seven-story building at 3535 N. Hall St. will have 201 apartments that offer independent living, assisted living and memory care housing. The community will include a fitness center, indoor swimming pool, technology center and dining facilities.
Photo 1 - Belmont Village Turtle Creek, 3535 N. Hall Street, Dallas, TX 75219
Houston-based Belmont broke ground on the project in January 2012. The senior housing builder bought the 1.6-acre development site in early 2008 after another developer canceled plans for a high-rise residential tower on the land.
Then the recession hit.
Belmont had hoped to start in 2008, but the project stalled for four years.
“We had to wait for the debt markets to reopen on terms favorable enough to permit us to go forward on this large, exquisite project,” Belmont Village founder and CEO Patricia Will said.
Belmont Village Senior Living has been in business since 1997 and has built projects in Georgia, Illinois, Tennessee, California, Arizona, Kentucky and Texas.
It began construction this year in Austin and Houston on two more projects that will open next year.
Belmont officials said they stuck with the Dallas construction site during the downturn because of the huge demand for seniors housing in this area.
They cited studies that show that North Texas is one of the top markets in the country for such developments.
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