A $250 million senior housing development is slated to break ground later this month, as a project of the Jewish Federation of South Palm Beach County called the Sinai Residences of Boca Raton.
The development is planned to include 237 units with a refundable entrance fee model. As of this month, more than 70% of units have been reserved.
As of December, the community was offering $50,000 or more in savings for those committing to a 95% refundable entrance fee, as well as custom options to those who committed in time.
“Upon completion, Sinai Residences of Boca Raton will be the centerpiece of our campus,” Federation CCRC Development President Wesley Finch, also the vice chair of the Jewish Federation, said in a press release. “Ultimately, it’s about creating an environment that will attract the active, future residents who will become a part of our vibrant community.”
The unit composition of the community includes 48 assisted living apartments, 24 memory care suites and 60 private skilled nursing suites, according to the Federation. The community is expected to open in 2015 with plans to employ a staff of 150 employees.
According to a South Florida Business Journal report, Dallas-based Greenbrier Development, Suffolk Construction, Perkins-Eastman Architects, and H.J. Sims & Co. are collaborating on the development and Life Care Services will serve as the management company for the new community.
Written by Elizabeth Ecker