The Village of River Oaks a luxury senior housing community is currently under construction at 1015 S. Shepherd. The community is a Joint Venture between Houston-based Owner/Developer Jim Gray of Bridgewood Property Co. and Harrison Street Real Estate Capital. Mr. Gray has focused exclusively on developing senior living communities for more than 20 years. In addition to the development, Mr. Gray’s management company (Retirement Center Management), will be responsible for the operations of the community upon completion of construction.
The Village of River Oaks will have eight floors of apartment homes with three levels of garage parking. The luxury community is expected to be completed in Spring 2017 bringing independent living, assisted living and memory care options to an area in need of these.
“It’s unique to have a senior’s site in the densely populated urban core, particularly within a well-known area minutes from established retail, medical services and religious institutions,” said Mr. Gray. “When we looked at the five-mile radius around the site, it was clear that this long-established Houston submarket in close proximity to Houston’s Fine Arts, Theater District and one of the top Medical Centers in the U.S. was very much underserved in quality senior living options.”
The Village of River Oaks amenities will include an indoor heated pool, a fitness center, a movie theater and outdoor terrace.
“We’re been receiving calls and emails for the past several months from prospective residents in the area who are looking for a seniors’ facility in close proximity to their longstanding neighborhoods, friends and families,” Lynn Wallace, Regional Director of Sales & Marketing said. “We are pleased to announce that our Information Office is now open and located in the BBVA/Compass Bank Building at 2001 Kirby Drive, Ste. 370, on the corner of San Felipe and Kirby. Priority Reservations are now being taken so future Residents can select a premium home and lock-in special pre-opening pricing”.
“Baby Boomers began turning 65 in 2011 and are now turning 65 at a rate of more than 10,000 per day,” Integra Realty Resources said in its 2016 Seniors Housing Outlook. “This ‘graying of America’ will lead to significant demand over the next few decades.” The report stated that 49,000 units — independent living, assisted living, memory care and skilled nursing — were in the construction pipeline in the top 100 U.S. markets as of the fourth quarter of 2015.
This current wave in design of independent living facilities reflect consumers’ changing tastes, the report said. “In an effort to lure Baby Boomers, many projects boast modern architecture with larger units featuring premium finishes such as granite countertops, stainless steel appliances, and upgraded flooring. Another emerging trend is that many new projects are being built in infill locations, where residents have the ability to walk to restaurants, shops, and cultural attractions.”
Both trends apply to the planned Village of River Oaks. Most units will have designer kitchens with granite counters and stainless steel appliances, plus balconies and floor-to- ceiling glass windows.
Other amenities will include an indoor heated pool, a fitness center, a movie theater, an arts and crafts studio, a salon, library, Town Hall, Bistro/Lounge and numerous additional living areas to encourage socialization and active living.
The location will put residents close to shops and restaurants on W. Gray and the River Oaks area as well as nearby walking trails, the Theater & Museum districts, Houston Medical Center and other services.
To learn more please contact The Village of River Oaks Information Office at 713-952-7600.