The Aspens at Lantana

[Rosemary]

[admin]

:o

You found out about the same time I did Rosemary. The developer announced it at our FWSD meeting tonight. Will have an article posted shortly. In the meantime, from the HOA website:


NEW ACTIVE ADULT COMMUNITY IN LANTANA

Republic Property Group is excited to announce the contract for sale of 5.58 acres of property to Cadence Capital Partners, LP for a new active adult community in Lantana.

Cadence Capital Partners, LP. has contracted for the property near the corner of FM 407 and Copper Canyon Road for its latest age-restricted community. The Aspens at Lantana will be located at the south east corner of Lantana adjacent to the future CVS location (currently owned and land banked by CVS) and the Sonic in Lantana.

"Lantana has been one of the top selling residential communities in the DFW market for many years and we are proud to be able to bring an active adult component to this highly acclaimed development," said Barry Metcalf, Vice President of the company. "Our community will require residents be ages 62+ and will provide amenities for the active adult lifestyle."

The Aspens at Lantana will be designed to complement the Texas Hill Country architectural theme of Lantana and offer 102 residences. Amenities include a swimming pool and expansive courtyard as well as passive greenbelts with gazebos and walking trails. Floor plans will include one and two bedroom designs ranging in size from 690 sq. ft. to almost 1,100 square feet. The Aspens at Lantana and it's residents will not be members of the Lantana Community Association. Their amenities will be separate and private to the residents of The Aspens and targeted for the active adult lifestyle.

"Lantana has always been a multi-generational community with a wide variety of housing styles appealing to families and grandparents who want to live nearby," said Teresa Grawe, senior vice president of marketing for Republic Property Group. "We have been looking for the perfect match for senior housing and The Aspens at Lantana is the final piece for a truly multi-generational community."

Founded in 1989, Cadence Capital Partners, LP is a real estate and investment firm based in Fort Worth, Texas that is involved in the development of shopping centers, master-planned communities and active adult/senior housing in North Texas, Colorado and New Mexico.

Cadence Capital Partners' recent housing projects include:

- The Aspens at Twin Creek in Allen which opened in Spring, 2011,
- The Aspens at Central Park will be breaking ground this Fall in Grand Prairie with the opening planned for Fall 2012
- Lifestyle Communities of Texas - communities designed for empty nester couples ages 55+ include The Village at Prestonwood in Plano, Texas, The Villas of Hollytree in Tyler, Texas and Stonebridge Oaks in Grapevine, Texas.

Plans are underway for The Aspens in Lantana which is slated to begin construction in 2012 with an anticipated 2013 opening.

[jlbates]

Wow.

[JKTex]

Wow, less than 6 acres and 102 units? I guess they're not zero lot line town homes.

[slider701]

In looking at the website for the Aspens in Allen it appears they are 2 and 3 story apartment buildings

[Uther]

In looking at the website for the Aspens in Allen it appears they are 2 and 3 story apartment buildings

I guess "active adult" means they don't use zimmer frames up and down the stairs....

[Lantana07]

Oh, my gosh! Really?! This SUCKS!! A senior living apartment community...absurd. This is the first step to having a regular apartment community here. Book it.

[Lantana07]

Please tell me they won't have access to the amenities they won't be paying for. Right? Right?!

[Uther]

Please tell me they won't have access to the amenities they won't be paying for. Right? Right?!

Once you've stopped hyperventilating, you will notice that the announcement said "separate facilities."

The Aspens at Lantana and it's residents will not be members of the Lantana Community Association. Their amenities will be separate and private to the residents of The Aspens and targeted for the active adult lifestyle.

[slider701]

Look at the bright side...........more grayhairs driving 40 mph down 407 on their way to Walmart or for their free senior coffee at McDonalds

[JKTex]

Y'all are unbelievable.

[Brian]

Oh, my gosh! Really?! This SUCKS!! A senior living apartment community...absurd. This is the first step to having a regular apartment community here. Book it.

I really dont think its bad at all. I think its actually a very good move/idea. With so many families with young kids in Lantana, I am sure there is a market for retirees to live close to their grandkids. And for a way for older Lantanians to downside but not move far away.

And its not at all like a regular apt community. One, you have to be 55 and older. Two, that means the odds of kids cramming in there is much less. Three, its a completely different socio demographics between the two.

NOW - if they someday convert to regular apts, I am putting my home on the market.

[admin]

NOW - if they someday convert to regular apts, I am putting my home on the market.

Per the developer, The Aspens are deed restricted to active adults 62 and older so it won't be converted into anything else.

[Common Sense Al]

Per the developer, The Aspens are deed restricted to active adults 62 and older so it won't be converted into anything else.

What if someone claims they are an active adult but are really passive? How will they know to reject them? What is the test they will use to verify that they are indeed "active adults"?

[falcon999]

there's going to be a test, kinda like boot camp in the military.. 12 min run and 100 pushups timed