Bridgeview Completes $21M Community in Fredericksburg, Texas

FREDERICKSBURG, Texas — Bridgeview Realty Capital, in collaboration with ACRON USA, Tulsa OK and First Capital Bank of Texas, has completed construction of a seniors housing community in Fredericksburg, located west of Austin and north of San Antonio.

Development costs were estimated at $21 million for the 73,000-square-foot property. The community, which was not named, offers 60 assisted living units and 24 memory care units.

The facility is slated to obtain full licensure by the end of March and is 50 percent pre-leased.

Bridgeview is already planning Phase II of construction, which will add independent living units on an adjacent plot owned by the partnership. Pre-development activities for the expansion are expected to start this summer.