The Georgian Lakeside – Joint-Venture Group Begins Construction of New Senior Living Community in Atlanta Submarket
October 22, 2015
ROSWELL, GA – Griffin Real Estate Management, a California-based real estate developer with a Division office in Atlanta, and Canyon Partners Real Estate, a real estate investment firm, announced the commencement of construction of The Georgian Lakeside in Roswell, Georgia. The Georgian Lakeside will be a 95 unit assisted living and memory care community. Thrive Senior Living of Atlanta will provide operating and consulting services to the property.
The Georgian Lakeside is scheduled to open in spring of 2016, and will be a uniquely designed, highly desirable upscale assisted living/memory care residence set in a pristine location overlooking a tranquil five acre lake. The distinctly regal three-story Georgian architecture – a look rarely seen in new senior living communities – will feature 70 assisted living and 25 memory care units. The design takes maximum advantage of the vistas over the water by strategically locating common areas, dining facilities, and expansive outdoor terraces.
“As a family operated business, we understand the importance of continuing to develop best in class facilities for our country’s senior population,” said Paul Griffin III of Griffin Real Estate Management. “We are pleased to partner with Canyon on another transaction as they have proven to be a trusted and flexible financial partner in complex transactions.”
The Georgian Lakeside is the second property Canyon will develop with Griffin Real Estate Management. In 2013, Canyon provided a senior construction loan to finance the construction of a multifamily community, Viano at Riverwalk, in Riverside, CA. Construction of the 264 unit development was completed earlier this year.
“We have the utmost confidence in Griffin Real Estate Management’s ability to develop outstanding communities and are excited to complete another deal with them,” said Charlie Rose, Canyon Senior Director. “Given the aging of the US population both nationwide and in this specific submarket, we look forward to helping fill a need for high quality, luxury senior housing in the Roswell community.”
Residents of The Georgian Lakeside will enjoy first class features, such as multiple dining options, including a private dining room, glamourous theater room, private hair salon, library, physical therapy and private doctors’ examination rooms, along with numerous activity rooms and an exercise facility. The use of state-of-the-art technology will benefit the residents and their families in the primary care, safety and administration for each resident.
Jeremy Ragsdale, Founder of Thrive Senior Living, stated “Roswell is a very dense suburban market in which we have seen continued residential growth, but more importantly we’ve seen the existing population age and create a higher statistical demand for senior living. The Georgian Lakeside will carry the new Georgia Assisted Living License, which very few existing facilities hold. This will allow us to provide a higher level of care in a more accountable environment.”