JKM Developers and affiliate Lotis Group will soon break ground on an assisted living facility west of Boynton Beach after obtaining a $27.45 million construction loan.
Locust Point Senior Housing Debt Fund and Bank Hapoalim provided the mortgage to Lotis Boynton ALF Owner LLC, an affiliate of the Boca Raton-based development firm led by John Markey.
It covers the 4.33-acre site at 11810 S. Military Trail, next to the golf course at the Delray Dunes Golf & Country Club. The developer has been working on plans there since 2017.
Markey said they will break ground on HarborChase of Boynton Beach, a Lotis Community, on May 6. It will have 140 assisted living beds, on-site dining, and resort-style amenities such as a tavern, a beauty salon and a wine bar. He expects the two-story project to be completed in June 2022. Straticon is the general contractor.
The lobby at Harbor Chase at Boynton Beach senior living.
This continues the boom in senior living construction in South Florida as the region attracts more seniors.
Red Bank, New Jersey-based Locust Point Capital announced in early April that it raised $428 million for a fund that would provide loans to senior housing projects across the United States. This appears to be one of the first such loans funded in that round.
KM Developers and affiliate Lotis Group will soon break ground on an assisted living facility west of Boynton Beach after obtaining a $27.45 million construction loan.
Locust Point Senior Housing Debt Fund and Bank Hapoalim provided the mortgage to Lotis Boynton ALF Owner LLC, an affiliate of the Boca Raton-based development firm led by John Markey.
It covers the 4.33-acre site at 11810 S. Military Trail, next to the golf course at the Delray Dunes Golf & Country Club. The developer has been working on plans there since 2017.
Markey said they will break ground on HarborChase of Boynton Beach, a Lotis Community, on May 6. It will have 140 assisted living beds, on-site dining, and resort-style amenities such as a tavern, a beauty salon and a wine bar. He expects the two-story project to be completed in June 2022. Straticon is the general contractor.
The lobby at Harbor Chase at Boynton Beach senior living.
This continues the boom in senior living construction in South Florida as the region attracts more seniors.
Red Bank, New Jersey-based Locust Point Capital announced in early April that it raised $428 million for a fund that would provide loans to senior housing projects across the United States. This appears to be one of the first such loans funded in that round.