June 14, 2011
McFarlin Group and its development partner, Stroud Development, are pleased to announce the planned development of Orchard Park at Victory Lakes, a senior assisted living and Alzheimer's community in League City, Texas, just 20 miles south of Houston. The community will be located off Victory Lakes Drive just East of I-45 South behind the Victory Lakes Town Center which consists of over 750,000 square feet of complimentary retail services. Upon completion of construction, Orchard Park at Victory Lakes will serve 60 assisted living residents and a separate secured wing will serve 40 Alzheimer's and dementia care residents. The 70,000 square foot Orchard Park at Victory Lakes building will be situated on 5 acres of land behind JC Penny's and the Victory Lakes Town Center. Orchard Park at Victory Lakes also plans to offer three internal and beautifully landscaped courtyards, fitness and wellness areas and a therapy room. The daily operations for the community will be performed by Meridian Senior Living, the 7th largest assisted living provider in the country. The community is designed by experienced senior assisted living and award winning architect Galier, Tolson and French out of Bedford, Texas.
"Situated just south of downtown Houston, League City has a strong economic base, and it's in close proximity to much of the region's aerospace, petrochemical and medical industry. The area is in desperate need of a new, state-of-the-art assisted and memory care facility such as Orchard Park at Victory Lakes," said Veta Redmond of Stroud Development. "Orchard Park at Victory Lakes is going to offer first class amenities and design, a highly experienced operations team, and due to our financing terms, it will be able to do so at a very competitive price level when compared to other providers in the area."
Orchard Park at Victory Lakes is sponsored by McFarlin Group (www.mcfarlin-group.com) and Stroud Development. Stroud Development is an affiliate of Stroud Properties, Inc. (the "Stroud") (www.stroudpropertiesinc.com) which enters its third decade as a privately-owned senior living and real estate company headquartered in Dallas, Texas. Stroud and its affiliates entered the senior living field in 1990 and have since been active in the development of 23 senior communities comprising 3,586 units and acquiring an additional 45 communities comprising 6,392 units. Stroud is privileged to have served as a founding member of National Investment Center for Senior Housing and has served in a leadership role for numerous trade associations. Stroud has been inducted to the Stifel Nicolaus Senior Housing Hall of Fame.
McFarlin Group is a developer and owner within the senior housing industry. The McFarlin Group has senior living experience that includes the planning, financing and development of over $1.7 billion in total project costs over the last 10 years and the development of 4,900 senor living units which includes the recently opened Orchard Park of McKinney. The team has years of hands-on experience creating value in senior living real estate projects.
For more information call (877) 902-8929.