(Franklin, TN – November 28, 2018) – LifeCenters Communities, LLC announces the closing of the initial phase of Wellpoint at Hampton Cove located in Huntsville, Alabama. The Project is being co-owned and co-developed with DMK Development Group, LLC of Louisville, KY and includes the development of a mixed use senior living center totaling 190 resident units. These include independent living (114 units); assisted living (50 units); and memory care programming (26 units).
The senior living center capitalization totals nearly $40MM and includes development financing of approximately $28MM secured through Renasant Bank of Birmingham, AL. Equity capital of nearly $12MM was sourced from a consortium of investors led by DMK Development Group with the formation of Hampton Cove Health Partners, LLC. Construction development activities have commenced and are projected to be completed within eighteen (18) months.
The community master plan development led by LifeCenters extends to including a progressive wellness center; a residential village community; and a boutique hotel. “Our planned community prototype is uniquely responsive to emerging trends in senior living” cites Joseph McCarron, CEO of LifeCenters. “Our objective is to deliver a highly integrative community that remains connected to the broader community while fostering wellness through engaging lifestyle and service offerings – coupling hospitality with care”.
Leveraging “Best in Class” collaboration, LifeCenters has partnered with Charter Senior Living, LLC of Naperville, IL and Hutchison Consulting, LLC of St. Louis, MO. “Charter Senior Living’s mission and values align incredibly well with the elevated approach of Wellpoint at Hampton Cove, including high standards, a focus on living and loving life, and a personal care approach”, explained Keven Bennema, CEO of Charter Senior Living. Hutchinson Consulting will lead recruitment as well as the program integration of hospitality and wellness services across the Wellpoint Community campus. “As partners in the Wellpoint vision, Hutchinson Consulting will ensure the latest advances in wellness and the top talent in the industry are found at Hampton Cove, “said Michael Tompkins, Partner at Hutchinson Consulting. “My partners and I are thrilled to be part of such an innovative project.”
Situated on 20 acres in the picturesque mountain valley of Hampton Cove and adjacent to a Robert Trent Jones golf course, Wellpoint at Hampton Cove will be the first of a series of planned communities to be sponsored and developed by LifeCenters.
A successive Wellpoint Community project being sponsored and developed by LifeCenters is underway in Murfreesboro, TN with targets in other southeast regional markets.
About LifeCenters Communities, LLC:
LifeCenters is a real estate development company with extensive executive and associate experience in the Senior Living, Spa and Hospitality Industries. Our formative emphasis is on the emergence of Planned Wellness Communities anchored by the confluence of senior living, integrative medicine, boutique hospitality and residential neighborhood interests.