Collierville senior living community eyes 2023 completion
A $280 million senior living community in Collier- ville is still more than two years away from completion, but about 75% of its homes and apartments are already reserved.
“Scarcity is beginning to set in, and the campus won’t be fully done until 2023,” said Mary Cross, sales director for The Farms at Bailey Station, a notfor-profit Lifecare community at 3382 Grand Central Circle East..
The Farms at Bailey Station, developed and managed by Retirement Companies of America, is a 37acre development for adults 55 and older that includes 63 garden homes, 176 apartments, a clubhouse and a health campus with a nursing home.
Retirement Companies of America also manages Kirby Pines Lifecare Community, a retirement neighborhood similar to the Collierville project.
Cross said 41 of the 63 homes were reserved, and 137 of 176 apartments are held for residents. She said 12 families currently live on-site, and by 2023 all homes and apartments will be occupied.
Michelle Vincent, senior vice president of Retirement Companies of America, said people will move into the apartments through four phases, expected to begin in summer 2021 and end in May 2022.
The apartments, seen from Houston Levee, sit near “Central Park” with an outdoor kitchen, fire pits, croquet and bocce courts, a dog park and an event lawn with a stage. The apartments also connect to the clubhouse, which features amenities including restaurants, a theater, a hair salon and a gym.
“This is what we call an adult playground,” Vincent said. “It’s for people to have a great time and enjoy all the amenities.”
The campus also includes the Jordan River Health Center, a nursing home with 60 private suites expected to open in summer 2021. The health center has private assisted-living suites, memory care suites for patients with dementia and Alzheimer’s, and an inpatient and outpatient rehab facility.
Vincent said the health campus will be open to the public, but members of The Farms at Bailey Station have priority.
When the campus is completed, Vincent said they expect to have 250-275 new employees.
Local companies including Linkous Construction, Landon Homes and Dalhoff Thomas Design Studio worked on the development
“There are a lot of locals touched by this project,” Cross said. “It’s a major project for Collierville and for jobs, but what’s been wonderful is the fact that we’ve been able to use so many local contractors.”
To live at The Farms at Bailey Station, members pay an entrance fee beginning at $275,000. They also pay a monthly maintenance fee depending on the size of the apartment or home and the number of people, along with an individual plan and fee schedule.
“Members make a one-time investment in this community with the entrance fee and with that investment they have the ability to live on this campus for the rest of their life,” Vincent said. “They don’t actually own the real estate, it’s a Lifecare lease, and that allows them to move around the campus and access the health campus at a discounted price.”