Senior Housing: `Resort-style senior living’ comes to McKinney
by Sam Hodges for the McKinney Blog
The economy may continue to sputter, but Craig International and Mad Mag Development have announced plans for a new seniors community in McKinney.
Details in the press release below:
McKinney, TX) Craig International and Mad Mag Development announced today the purchase of 24 acres in Craig Ranch (www.craigranchtx.com) to develop a resort-style senior living project. Tuscarora at Craig Ranch will be the first full-service Continuing Care Retirement Community (CCRC) in Collin County that offers the full continuum of care for active seniors.
“We are proud to officially welcome Tuscarora to Craig Ranch,” said David Craig, Founder and developer of Craig Ranch. “We’ve been working to finalize this deal for two years. In an environment where projects are being scrutinized more than ever, it is a real testament to our team and Tuscarora that we made it over the finish line in this economy. I especially applaud the perseverance that Jeff Yates showed in making this deal come together.”
Tuscarora is located on the north side of Collin McKinney Parkway just west of Stacy Road. It will primarily focus on independent living with a mix of apartments and villas. It also features an onsite healthcare facility, which will include assisted living, skilled nursing, rehabilitation and memory care units. The Community Commons will include a medical clinic and senior related retail including audiology, optometry and an on-site pharmacy. It will also include a variety of dining venues, retail shops, a dry cleaners and a bank. In addition to an on-site wellness center, residents will also have access to the world-class golf and fitness amenities at Craig Ranch.
“When seniors see our concept, we want them to say, ‘we never dreamed we could live life like this,’” said Jeffery C. Yates, President and CEO of Mad Mag Development. “We want to surround our residents with ways to stay active in life along with the best medical care. Tuscarora is unique in that we have some of the best physicians in the region investing in the community, and they will be active in the programs for our residents. Further, being part of Craig Ranch gives our residents access to all of its state-of-the-art amenities. It’s a combination like no other CCRC around.”
Life Care Services (www.lcsnet.com), an industry leader in the management of senior living facilities, will oversee development, marketing, management and operations of Tuscarora. Life Care currently manages more than 100 communities across the country and has been doing so for nearly 40 years.
Yates says construction is scheduled to begin on phase one of the project in the first quarter of 2011 and includes the assisted living, skilled nursing, memory care and rehabilitation facilities. Pre-sales for the independent living apartments and villas will begin this summer with an estimated start of construction in 2012. Once completed, there will be 500+ residents at Tuscarora. An estimated 200 jobs will be created from the development once it is fully operational.
