StoneCreek Real Estate Partners Announces Development Plans for Flower Mound Facility
StoneCreek Real Estate Partners developed and owns the 82 unit Elan Oaks assisted living and memory care facility in Flower Mound, TX. It will be managed by Civitas Senior Living.
FLOWER MOUND, Texas, July 22, 2014 /PRNewswire/ -- StoneCreek Real Estate Partners began construction on Elan Oaks- an 82 unit assisted living and memory care facility on May 2nd, 2014. This community is the first of a portfolio of properties that StoneCreek has under development. Elan Oaks will be located at 3281 Long Prairie Road in Flower Mound, TX and it is projected to create over 100 new jobs.
Elan Oaks will be owned and funded by a joint venture between StoneCreek Real Estate Partners and The Collin Fund with financing from NorthStar Bank of Texas.
The community will be managed by Civitas Senior Living under the leadership of Wayne and Misti Powell. "Our small company platform allows us to provide large company services with the attention to detail of a local owner," said Wayne Powell, President of Civitas Senior Living. Powell previously owned The Courtyards at River Park, an assisted living facility in Fort Worth. Together, this management team has more than 20 years of experience operating senior living communities in Texas.
Resource Commercial Construction Inc. was founded in 1993 and has extensive experience in the construction of senior living communities. Their commitment to top-quality construction and customer service made them the ideal partner for the Elan Oaks development. The building's design includes 58 studio, one-bedroom, and two-bedroom assisted living apartments as well as 24 private and semi-private memory care suites.
Contact:
Joe Geer,
Managing Member
[email protected]
214-893-4202
SOURCE StoneCreek Real Estate Partners
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