Watercrest to Build 128-Unit Assisted Living Community in Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Watercrest Senior Living Group has announced plans to construct Watercrest of St. Lucie West Assisted Living and Memory Care Community, a 128-unit seniors housing community in Port St. Lucie, located along the east coast of Florida midway between Orlando and Miami.

D2 Architecture designed the luxury community, which Walker & Co. is building. It is scheduled to open in fall 2017.

When completed, there will be 102 assisted living units and 26 memory care units in a 112,000-square-foot building on a 5.3-acre plot. Watercrest, the developer, will operate the community.

HFF helped finance the project, arranging $11.2 million in joint venture equity capital through an unnamed lender, as well as the $21 million construction loan through Wells Fargo. Ed Coco, Ryan Maconachy and Chad Lavender of HFF represented Watercrest in the financing transaction.

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