Ryan and Grand Living Management announce the financial closing and beginning of construction for Grand Living at Wellen Park. The luxury senior living community located in Venice, Fla. will be part of Wellen Park, a top-selling master-planned community on the state’s Gulf Coast.
According to a study conducted by Moore Diversified Services, Inc., the 75 and older demographic with income-qualified households in the Venice area is expected to increase by 35.8% between 2020 and 2025. The 235,267-square-foot building will bring nearly 200 apartments to Wellen Park to help fulfill the demand in the area.
"Ryan and Grand Living have a proven track record of delivering luxury, next-generation senior living communities where they are needed most," said Eric Anderson, senior vice president of senior living development, Ryan Companies. "Grand Living is the perfect addition to Wellen Park—with best-in-class retail, restaurants and entertainment just a stone’s throw away for residents.”
Residents at this new community will benefit from all that Wellen Park has to offer, including a robust downtown area featuring an 80-acre lake, entertainment venues, active parks, retail shops, waterfront dining and pedestrian-friendly trails and streets.
"We have been very mindful to select partners like Ryan Companies that can layer in the appropriate diversification of residential lifestyles with the level of quality people have come to expect at Wellen Park, said Rick Severance, president, Wellen Park. "The addition of a luxury senior living community provides options for both Wellen Park residents who want to age in place and their senior loved ones."
Ryan Architecture + Engineering designed the luxury-inspired, four-story building that supports Grand Living’s age-in-place model, which allows residents to remain in their original apartment even as their healthcare needs change. The building will include 156 independent and assisted living units, and 36 memory care units. Cottages built by Mattamy Homes, the master developer of Wellen Park, will also be available. The new world class community will incorporate key design features and amenities to promote a healthy lifestyle for residents including multiple dining venues; a library; wellness/telehealth center with fitness areas, spa and salon; club room; activity room and a large gathering space for community events and spiritual services.
“We are proud to be a part of the Wellen Park neighborhood and look forward to showing our future residents First Class Happiness, showcasing our extraordinary environment and remarkable programs and services,” said Dan Peterka, Grand Living’s president and CEO.
Ryan is the architect of record, developer, builder and capital markets partner for the project. Upon completion in March 2023 Grand Living Management will handle day-to-day operations and Ryan will provide asset management services.
Ryan Companies has completed 50 senior living communities across the country and has delivered over 500 units in Florida. This project will be the 10th project in partnership with Grand Living Management and the fourth in the state.