AUSTIN, TX—Ryan Companies US, Inc., Grand Living and Castletop Capital announced earlier this week the start of construction for Grand Living at The Grove. Located at The Grove—central Austin’s dynamic mixed-use development—Grand Living at The Grove will provide an age-in-community, which allows residents to reside in their original apartment, even as their health care needs change. According to ESRI, Austin’s age- and income-qualified households—age 75 and older, $75,000 and up—is expected to grow nearly 70% by 2027.
“Demand for senior housing will continue to grow in Austin and there’s no better time to start building than now,” said Hunter Barrier, south central region president of Ryan Companies. “Grand Living at The Grove will not only provide high-quality living options, but it’s located in an amenity-rich community just minutes away from downtown Austin.”
Located at the corner of Bull Creek Road and Jackson Avenue, the five-story senior living community will be approximately 348,353 square feet with 186 independent and assisted living units, as well as an entire wing dedicated to 36 memory care apartments. Residents will have the option to choose from studios and one- and two-bedroom apartments, and some apartments will include dens. Living spaces will range from 450 to 1,600 square feet.
Amenities will include a Grand lounge and legends club; Grand library; formal, casual and bistro dining; a performance theater; Grand spa and fitness center featuring a full-service salon, pool and courtyard; therapy rooms; game rooms; a gift shop; chapel and outdoor amenity spaces. There will also be 180 underground parking stalls.
“We are driven by our passion to provide remarkable personalized experiences for residents and their families, and by our unparalleled commitment to exceptional service,” said Dan Peterka, Grand Living’s president and CEO. “We are proud to be a part of the Austin community and look forward to showcasing our extraordinary environment and remarkable programs and services.”
Ryan is the co-developer and builder, and Ryan A+E, Inc. is the architect of record. Castletop Capital is the master plan developer and Grand Living will operate the community upon completion. PACE Loan Group and Bankers Trust provided financing for the project.
“We are very excited to be partnering with Ryan Companies to bring a class A for-rent senior living project to The Grove,” said Alan Topfer, co-founder and managing director of Castletop Capital. “Grand Living at The Grove is going to be a highly amenitized community that will provide a high quality home for senior citizens to live in, which will enable them to take advantage of the expanding restaurants, services and retail that The Grove has to offer.”
Ryan and Grand Living have partnered on three other senior living developments in Texas, including Grand Living at Georgetown, Grand Living at Riverstone in Sugarland and Grand Living at Tuscan Lakes in Houston.
Grand Living at The Grove’s anticipated completion is late 2024.