Craig International and Mad Mag Development recently announced the purchase of 24 acres in Craig Ranch to develop a resort-style senior living project. Tuscarora at Craig Ranch will be a full-service Continuing Care Retirement Community (CCRC) in Collin County that offers senior living services from independent to assisted living. Tuscarora will primarily focus on independent living with 165 apartments and 24 villas and will have an onsite healthcare facility, which will include assisted living, skilled nursing, rehabilitation and memory care units.
Construction is scheduled to begin on phase one of the project in the first quarter of 2011 and includes the healthcare center, assisted living, skilled nursing and rehabilitation facilities. Pre-sales for the 24 independent living villas will begin this summer with an estimated completion date of 2012.
“We are proud to officially welcome Tuscarora to Craig Ranch,” said David Craig, Founder and developer of Craig Ranch. “We’ve been working to finalize this deal for two years. In an environment where projects are being scrutinized more than ever, it is a real testament to our team and Tuscarora that we made it over the finish line in this economy. I especially applaud the perseverance that Jeff Yates showed in making this deal come together.”