Independent Healthcare Properties Announces $25M Senior Campus for Franklin
- Sep 19, 2014
Independent Healthcare Properties, a senior healthcare services company, has announced plans to develop a 120-unit assisted living community in Franklin, TN under its Morning Point Assisted Living brand. Dubbed Morning Pointe of Franklin, the two-phase project will be located on 12 acres at the 1700 Block of New Highway 96 West, near Carlisle Lane, in the Greater Nashville Area. Morning Pointe is developing the $25 million senior campus with Chattanooga-based Independent Healthcare Properties, The Chattanoogan reported.
Excavation has already started on phase one, according to The Chattanoogan. Expected to complete in fall 2015, phase one will consist of a craftsman-style 73-unit building. Fifty-three apartments will be sizeable assisted living residences with several floor plan choices. The remaining 20 units will be part of The Lantern secure wing, catering to residents with Alzheimer’s and various other memory care needs. Amenities at phase one include restaurant-style dining areas, landscaped grounds, professional health and wellness services, life enrichment programs, housekeeping and salon services. Phase two, dubbed The Lantern at Morning Pointe Alzheimer’s Center of Excellence, will feature 44 apartments catering solely to memory care residents. Upon completion of phase two, phase one’s Lantern wing will be converted to assisted living residences.
According to The Chattanoogan, financing was provided by First Tennessee Bank of Chattanooga. The development team includes Chattanooga-based East Tennessee Specialty Builders and Nashville-based Ragan Smith Associates civil engineers and architects Hart Freeland Roberts, Inc. The latter has previous experience designing senior living communities for Morning Pointe, having been involved in the development of the 74-unit Morning Pointe of Brentwood.
Morning Pointe of Franklin will create 200 construction jobs and 125 permanent healthcare-related positions upon completion, the Nashville Business Journal reported.
Independent Healthcare Properties is the developer, owner and manager of 24 Morning Pointe assisted living and memory care communities in five southeastern states.
Image courtesy of Hart Freeland Roberts, Inc.