KW Commercial and My ALF Consultant are exclusively offering Lumen Park at Baymeadows Assisted Living Development Opportunity.
View Offering Memorandum Click Here
Lumen at Baymeadows is a vacant parcel with an approved PUD Certification by the City of Jacksonville for a Senior Living Campus up to 135 units. The current campus plan unit mix includes 32 Independent Units, 65 Assisted Living Units, and 31 Units for Memory Care. The parcel is 4.6 acres in a great upper middle-class suburban Jacksonville market.
The Project is planned for a total of 116,000 square feet and was designed by Florida’s premier senior living firm, Architectural Concepts Inc., (“ACI”) (see www.archconcept.com). The innovative plan offers fresh designs for common areas and living spaces as well as value engineering for the entire project.
A comprehensive market feasibility study has been completed by the nationally recognized senior living consulting group, PMD Advisory Services, LLC. National lenders and investors accept and endorse market feasibility studies conducted by PMD and major credit decisions are based on this consulting group analysis. PMD Advisory Services has determined that, as of 2022, there is a need for up to 290 IL residences, 73 AL units and 137 memory care beds in the market. The Project is sized to meet the projected demand. The industry-leading design allows the stabilized residential population to “age in place” within the community. Due to the adaptive design, the community can continually adjust to changing market trends.
The Project will utilize a prime site at 4900 Baymeadows Road, Jacksonville, FL 32259 centrally located between the five largest Catholic parishes in the Catholic Diocese of Saint Augustine (the “Diocese”). The Project will be developed with the full endorsement of the Diocese, which encompasses the Greater Jacksonville area and 16 additional counties.
The community previously was endorsed by the Catholic Diocese of Saint Augustine, which encompasses the Greater Jacksonville area and 16 additional counties. The buyer can explore renewing or renegotiating this endorsement. The site is ideally located in the center of greater Jacksonville, between the five largest Catholic parishes in the Catholic Diocese of Saint Augustine.
The required environmental, land use, and related entitlements have been secured from the City of Jacksonville by Ordinance No. 2018-129-E approving a PUD for 128 units of senior living. There are no environmental issues on the site that preclude the Project as planned. The City of Jacksonville remains fully supportive of the Project. The City of Jacksonville and Duval County may offer financial incentives in the form of property tax deferral and other incentives to enhance the project’s competitive advantage.
