A new senior housing operator based in Texas has launched with an eye toward high-end independent living, assisted living and memory care development within the state, and beyond.
The new operator, Avanti Senior Living, is led by senior living veterans Tim Hekker and Lori Juneau Alford, who bring a combined 50 years of experience spanning work with national organizations and operators including Marriott, The Forum and Hearthstone Senior Living.
Avanti and an unnamed equity partner expect to break ground in the first quarter of 2014 on the first two of about a dozen properties planned for their portfolio. The first two properties will be located in The Woodlands, Texas, and Cypress, Texas. Future expansion is planned for the Dallas market and into additional states.
“There are a lot of new senior housing providers getting into the space,” says Alford of the launch. “We’re a new company, but we’re not new to the senior housing business. That sets us apart from a lot of other companies.”
Avanti’s main focus, Alford says, is assisted living and memory care with a mid- to high-end target demographic, to which the company aims to bring a slightly different approach.
“The data’s there – there is a need for our aging population,” Alford says. “There hasn’t been a lot of development for a few years and the need is great in areas we are strategically targeting. We’re really passionate about wanting to get out there and create an innovative product. Thus far the areas we are targeting have welcomed us with open arms.”
Avanti is mum on the investment value of its development pipeline, but says it anticipates 10 to 15 communities to be launched under its brand in the near term.
“We’re going to be different and not just a cookie cutter model,” Alford says. “The design and aesthetics are important but we also recognize the carpet and wallpaper don’t take care of your mom. We’re thoughtful in the services and amenities we will provide, how we will provide them and in an environment that is innovative and friendly for our residents and team members.”
Written by Elizabeth Ecker