Groundbreaking Event Held for Clarendale® at Indian Lake in Hendersonville, TN

Ryan Companies US, Inc., Life Care Services®, An LCS Company, and Harrison Street Real Estate Capital, along with government officials from Hendersonville, celebrated the start of construction of Clarendale at Indian Lake, a $48.5 million, 189-residence senior living community in Hendersonville, Tenn.

A groundbreaking event was held on Thursday, April 27 on the construction site, an 11-acre land parcel located at 195 Indian Lake Boulevard (at Indian Lake Boulevard and Maple Drive) in Hendersonville.

According to Ryan Companies, the development of Clarendale at Indian Lake will create nearly 500 construction jobs and approximately 85 permanent staff positions when it is fully operational. The 189-residence Clarendale at Indian Lake community will offer three lifestyle neighborhoods comprised of 115 independent living residences, 38 assisted living residences and 36 memory care residences all under one roof. This provides area seniors with greater, more modern options for a continuum of care in one location.

“This is a great day and a great story for Hendersonville,” said Hendersonville Mayor Jamie Clary. “With the development of Clarendale at Indian Lake we are creating jobs for and embracing investment in our community. Yet more importantly, we are supporting the seniors in our community by being able to offer them convenient and modern opportunities to remain in an area they are accustomed to. These are all very important, and we applaud Ryan, LCS and their extensive team in bringing us to this point.”

The Clarendale model brings a unique offering to the senior living marketplace.  With a focus on hospitality-based services, amenities are strategically chosen and designed to promote social interaction among residents and their families.  The goal is increased convenience, camaraderie, security and a greater sense of connectedness for its residents.  To that end, Clarendale at Indian Lake offers approximately 28,500 square feet of amenity space that includes restaurant-style dining, a bistro, a pub and billiards room, wellness center, including fitness and therapy, salon, movie room, cozy living rooms and a grand community room. There will also be outdoor dining seating, private courtyards, extensive landscaping and indoor parking. 

The development will benefit from views of Drakes Creek and Drakes Creek Park. Area features include signalized access and proximity to the retail, entertainment and services of Indian Lake Village, a significant mixed-use development. 

“As a company, ensuring quality of life of those who put their trust in us has always been essential to our operations,” said Peter Muhlbach, Senior Vice President/Director of Senior Living Management for the rental division at LCS. “With all that Clarendale at Indian Lake has to offer, residents will feel safe, supported, connected and cared for.” 

“As we expand our Clarendale brand across the country, Ryan, LCS and Harrison Street look for locations and markets where we can make a difference and deliver a lifestyle choice that is unlike any other. The continuum of care alongside the robust activities and high-quality amenities and finishes are important features that seniors are seeking today,” said Dan Walsh, Senior Vice President of Development, Ryan Companies. “Clarendale at Indian Lake will be a vibrant community where the residents will thrive in a setting that is unique to the Hendersonville area.”

Ryan Companies and its project partners LCS® and Harrison Street Real Estate Capital will develop, own and manage Clarendale at Indian Lake, with Ryan also serving as design-builder.   It will be the fourth community in the expanding Clarendale senior living brand.  The community is slated to open in fall 2018. Ryan and LCS have developed, constructed and operate senior living communities across the U.S. and are developing Clarendale at Indian Lake to offer a hospitality-based, amenity-driven full continuum of care that sets a new industry standard for senior lifestyle and care.

The community will be managed by Life Care Services, An LCS Company, of Des Moines, Iowa.  Life Care Services has been actively involved in providing senior living management services in Middle Tennessee since 2007.  Area communities currently managed by Life Care Services include The Heritage at Brentwood, Brentwood; Maristone of Franklin, Franklin; and Maristone of Providence, Mount Juliet.

There are three other Clarendale projects in varying stages of development and operation. Clarendale® of Mokena, a 156-residence development in Mokena, Illinois, opened in Fall 2015. Clarendale® of Algonquin, a 186-residence community in Algonquin, Illinois, opened in Fall 2016. Clarendale® of Schererville, a 177-residence development in Schererville, Indiana, is currently under construction and slated for a May 2017 opening.

Ryan Companies has developed, designed, built and provided capital management to over 3.3 million square feet representing 26 senior living communities in the past 10 years. That work has included age-in-place communities with independent living, assisted living and memory care options; large-scale, hospitality-oriented communities; affordable senior rental; and small-scale senior housing.

Members of the Clarendale at Indian Lake project team include HFR Design, a Nashville, Tennessee-based architecture and engineering firm and Bone McAllester Norton, a law firm with offices throughout Tennessee.

Photo L to R: Shawn Hunt (Consultant), Brandon Raymond (Ryan), Brian Lane (Life Care Services), Mayor Jamie Clary (City of Hendersonville), Dan Walsh (Ryan), Amy Weishaar (Ryan), Derek Retherford (Life Care Services), Tom Hughes (Harrison Street Real Estate Capital)

About Ryan Companies US, Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, builder, capital investment consultant, and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works.  Ryan’s market depth includes retail, industrial, healthcare, and senior living. Ryan’s development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. With a focus on bringing lasting value to its customers and the communities in which it works, Ryan has nearly 1300 employees in 13 offices and has completed projects in 38 states. For more information, visit ryancompanies.com.

About LCS®                                                                                   
Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Life Plan Communities, formerly referred to as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides a full-service real estate private equity enterprise, insurance, national purchasing consulting services and in-home care. The companies of LCS serve thousands of seniors across the nation. For more information, visit LCSnet.com.

About Life Care Services®
Life Care Services, An LCS Company, established in 1971 and based in Des Moines, Iowa, is the third largest manager of full-service senior living communities. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plan Communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. For more information, visit lifecareservicesLCS.com.

About Harrison Street
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment products across multiple risk/return strategies. Headquartered in Chicago, the firm employs a 90+ person team and has approximately $12.2 billion in assets under management. For more information, please visit www.harrisonst.com