LIG Assets, through a non-wholly owned subsidiary, World SeniorCare Services, Inc., announced this week that it has entered the senior care industry with plans to grow.
The new subsidiary has entered into a contract to purchase all lots in a 13-plus acre subdivision in Burleson, Texas, to be created specifically for senior care living. The project, upon completion, will include 10 assisted living or memory care buildings and a common kitchen, and has projected costs totaling near $20 million over two years.
“LIG is going to bring its real estate experience to bear on developing smaller, easier to manage, cost effective resident homes for the rural community,” said Jeff Love, president and CEO of LIG. “And with our team, we are confident that this project will be efficient, wholesome and profitable. Our approach will set us apart from the competitors in this $35 billion dollar per year industry.”
The development in Texas will serve as a start to the growth of LIG, he said.
“The Burleson project will prove the effectiveness of our model,” Love said. “Assuming the evidence is as positive as we believe it will be, expansion will be right around the corner.”
Written by Elizabeth Ecker