Senior living apartments break ground
Avenida Watermarq at Germantown, a senior living community, broke ground Thursday.
The building will take up the remaining space of the former Walmart behind Chick-fil-A. It will be adjacent to the Baptist Memorial Rehab Hospital near Wolf River Boulevard and Germantown Road. The property will overlook Neshoba Lake and sit close to the Wolf River Greenway.
“What better spot to have a facility like this — by the beautiful water feature and beautiful greenway?” Germantown Mayor Mike Palazzolo said, adding it is close to the suburb’s medical district. “What a perfect place to have this type of residential (housing) for our residents.”
The community will include 161 apartments to be leased to individuals 55 and older. While Germantown has an apartment moratorium until July 2019, senior living was not included in it, according to Patrick Lawton, Germantown city administrator.
Although Alderman John Barzizza has spoken out against apartments, he said Avenida is “definitely not the same as apartments.” Barzizza said he knows people over 55 who are looking to downsize to a place like the project and stay close to family.
“We have quite a bit of (three generations families) in Germantown,” he said. “I think it’s a good thing, and it helps in perpetuation of a really good city — a family city.”
Avenida Watermarq was approved by the Germantown Board of Mayor and Aldermen in September, but the approval process took more than two years, according to Bob May, founder of Avenida. May said he has wanted to be in Germantown for more than four years.
“We try our best to pick communities as valued and as desirable as Germantown,” May said.
The property is one of several in the area, but May said the culture and many entertainment opportunities offered by Avenida set it apart from the “area competition.”
Avenida Partners, LLC is based in Newport Beach, California, but has a Nashville office. The company has partnered with Nashville’s Hardaway Construction as the contractors for the facility.
The company has two senior living facilities open in the United States and four under construction. Germantown will be its seventh facility. The closest facility, Avenida Cool Springs, is under construction in Franklin.
The apartments will feature unique modern amenities and appliances, according to Robert Muirhead, the Germantown facility’s project manager. They will have one- and two-bedroom options. May said they have various floor plans they are exploring.
May said leases will be one to two years, which is an “attractive option” to those 55 and older. Avenida hopes to begin pre-leasing next year and open with a ribbon-cutting ceremony in 2020.
Abigail Warren covers Germantown for The Commercial Appeal. Reach her at abigail.warren@commercial
appeal.com or follow her on Twitter @aewarren3.