LCS Announces New Senior Living Community in Bridgewater, New Jersey
December 3, 2018
DES MOINES, Iowa–LCS announced today the closing of financing and start of construction for The Delaney of Bridgewater. The community will be a 262,000-square-foot Class A senior living community located in Bridgewater, NJ, that will provide a full continuum of care to its future independent, assisted and memory care residents. The community is slated to open in the Fall of 2020. Financial terms were not disclosed.
“We conducted extensive market research and believe the Bridgewater market area is well suited for this type of senior living community,” said David Laffey, EVP/senior managing director for LCS Real Estate. “The Delaney of Bridgewater is the fifth community in the portfolio, and we are thrilled to partner with BMO Harris on another opportunity.”
The Delaney of Bridgewater will be located on Frontier Road just north of the I-287 and Route 22 intersection. The community will feature 224 residences including 122 independent living apartments and—in response to consumer desire—15 free-standing villas. The Delaney will offer a continuum of care and include 56 residences for assisted living and a memory care neighborhood that will accommodate 32 residents. Community amenities include concierge services, café/bar, clubroom, expansive multi-purpose room, exercise studios, wellness suite and dining rooms.
“We find these communities have been well-received by the consumer,” said Chris Bird, EVP/director of rental. “The thoughtful design that includes a continuum of care in one location fuels the market acceptance. Additionally, the unique programs offered by Life Care Services are the foundation of our promise to residents: Extraordinary Impressions®, Heartfelt CONNECTIONS – A Memory Care Program® and Health and Wellness Navigation Program™.”
A demonstration of the depth of LCS, LCS Real Estate™ facilitated the acquisition and debt placement. LCS Development® is the developer, and Life Care Services® will provide management services. All three are LCS companies. Four additional Delaney communities are located in Texas in the cities of Georgetown, Waco, Richmond, and League City.