TrinityCare Senior Living, Inc. (OTC Bulletin Board: TCSR) recently announced the execution of a strategic agreement with ATOM, LLC for the development of a new senior living facility in Gulf Shores, Alabama. Funding for Trinity Sands, an 82-unit, $12 million senior living facility, is anticipated to occur during the summer of 2010 and completion of construction is anticipated in the summer of 2011.
"Trinity Sands will be our first project with this developer, ATOM, LLC, which has broad experience involving diverse investments," stated Donald W. Sapaugh, Chairman and Chief Executive Officer of TrinityCare Senior Living, Inc. "ATOM, LLC has obtained a Market Acceptance Letter from HUD, which will expedite development on the Alabama Gulf Coast, and its lender is known for financial strength and leadership in senior lending."
"We are pleased to have this amazing opportunity to work with TrinityCare and its leadership in the development of not only a senior living facility, but a community that cost-effectively provides for its residents’ personal and healthcare needs in a high quality living environment," stated David Stewart, member of ATOM, LLC, the land contributor and partner in Trinity Sands. Mr. Stewart and three other partners contributing the land are experienced developers in the region and plan additional senior-related amenities on the site.
