Multifamily Developer Lloyd Jones Launches Active Adult Brand

MIAMI — Lloyd Jones, a Miami-based real estate investment, development and management platform, has launched a new active adult multifamily brand named Aviva 55.

Lloyd Jones is aiming to create middle-market, 55-plus, age-restricted properties designed to allow seniors to age in place.

Lloyd Jones is not a newcomer to the senior living sector. The firm has developed seniors housing for 20 years, and currently owns more than 700 age-restricted apartments in Florida. Unlike the existing units, though, the Aviva 55 brand will offer services to help residents stay in their apartments as they age.

Aviva 55 buildings will have a health and wellness coordinator and an activities coordinator on staff to facilitate socialization and well-being. Lloyd Jones also intends to forge partnerships with local organizations to provide support services on an as-needed basis.

Aviva 55 plans call for buildings that are three to four stories tall, with surface or podium parking, and between 100 and 200 units. Development costs are estimated at $250,000 per unit. The company hopes to expand the brand into Texas, Georgia, South Carolina and North Carolina.

Lloyd Jones currently has three Aviva 55 projects under development — all in Southern Florida — with plans to eventually build at a rate of 10 communities per year. The company is also seeking acquisitions, possibly purchasing independent living or assisted living buildings and scaling them back to active adult strategies.