AOG Breaks Ground on New Active Adult Community in Plano

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Oct 03, 2024, 08:25 ET

Firms Launches their First Development Project in the 55+ Market

HOUSTON, Oct. 3, 2024 /PRNewswire/ -- AOG Living has broken ground on a new active adult community, Novum Plano in Plano, Texas adding 147 units to its growing development portfolio.

Developed by AOG Living and financed by CRBE, the new community has the capital stack secured, both equity and debt committed, and has begun construction. The projected completion date is slated for late 2025.

Groundbreaking at Novum Plano. Pictured L to R: Michael Williams, Justin Hunt, Ricardo Rivas, Pablo Muxica, Andres Jarpa, Sergio Aguilar, and Alejandro Dabdoub

"We are thrilled to announce our inaugural active adult project in Plano and our first venture into this sector within our development portfolio; however, we are no strangers to active adult communities. Our management division already oversees several active adult properties, demonstrating our commitment and expertise in this market," said Ricardo Rivas, Chief Executive Officer of AOG Living.

According to Investment Associate for AOG Living, Justin Hunt, "We're expecting large growth in the senior demographic as well as a huge influx of this population segment moving to Texas to be closer to family. Novum Plano will provide a vibrant, active lifestyle – a new beginning to be alive and thrive."

Novum Plano will be located at the corner of Preston Road and Rasor Blvd in Plano, Texas and will have 147 units offering a mix of studios, one-bedroom and two-bedroom apartments. Designed by FK Architecture, the community will feature a saltwater pool with lap lane and ramp entry, pickleball court, fitness center, hair/nail salon, theater and game lounge, yoga/aerobics room, dog park, community gardens, outdoor kitchens, parking garage and air-conditioned storage units. There will be a full schedule of programming and activities. For more information visit aogliving.com.

About AOG Living

AOG Living is a leading fully integrated, multifamily real estate investment, construction, and property management firm headquartered in Houston, Texas, with additional offices in Denver, Dallas, and San Antonio. AOG Living has acquired, built, or developed more than 20,000 multifamily units with a total aggregate value of approximately $2.4 billion and has a growing portfolio of more than 35,000 apartment homes and 170+ properties under management throughout the nation. For more information, visit aogliving.com.

For More Information Contact:
Carrie Saks
[email protected]
713-622-5844

SOURCE AOG Living