Lantana developer, Republic Property Group, recently announced the sale of land to Fort Worth-based Cadence Capital Partners for a 102 unit age-restricted residential development. This senior housing community will require residents to be 62-plus years of age and will be rental housing. This is the same company that wanted to build senior rental housing at Orchard Flower in Flower Mound but was denied by our town council which decreed that the housing must be for sale and not for rent. When a senior becomes unable or unwilling to maintain his/her home and sells it, the senior does not want to buy another house. The senior wants to put the money in the bank for future expenses and to rent size and cost appropriate housing. This is another example of Flower Mound’s unfriendliness towards senior rental housing.
Flower Mound, TX