High-end rental housing for seniors is coming to Lantana. Lantana developer, Republic Property Group, announced Thursday the sale of 5.58 acres near FM 407 and Copper Canyon Road to Fort Worth-based Cadence Capital Partners for a 102-unit age-restricted residential development.
The Aspens at Lantana will be located behind the future CVS and Sonic, with access from Copper Canyon Road.
“Our community will require residents be ages 62-plus and will provide amenities for the active adult lifestyle,” said Barry Metcalf, Vice President of Cadence Capital Partners.
The Aspens at Lantana will be designed to complement the Texas Hill Country architectural theme of Lantana, according to Teresa Grawe, senior vice president of marketing for Republic Property Group.
She said that the gated community will contain two to three story homes with attached garages below. Floor plans will include one and two bedrooms ranging in size from 690 to almost 1,100 square feet.
Grawe said that amenities will include a swimming pool and expansive courtyard as well as greenbelts with gazebos and walking trails.
The Aspens at Lantana residents will not be members of the Lantana Community Association, explained Grawe. Their amenities will be separate and private from the rest of Lantana 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 Grawe.
“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.”
The Aspens is slated to begin construction in 2012 with an anticipated 2013 opening.
Founded in 1989, Cadence Capital Partners, LP is a real estate and investment firm 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, which will break ground this fall in Grand Prairie; and Lifestyle Communities of Texas, for empty nester couples ages 55 and up, including The Village at Prestonwood in Plano, The Villas of Hollytree in Tyler, and Stonebridge Oaks in Grapevine.
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