MIAMI – Feb. 14, 2020 — Global law firm Greenberg Traurig, P.A. shareholder Jorge L. Navarro represented AJP Ventures in obtaining approval from Miami-Dade County for a new mixed-use development, including both an adult living facility and medical offices.
Located at 9101 S.W. 24th St., MedSquare Place is expected to be the first senior living active lifestyle community built in Westchester. It also brings a new concept to Miami-Dade County by including medical offices in the same project. Alberto J. Pérez, President of AJP Ventures, plans to demolish and redevelop the existing building, which previously was owned by AT&T.
The MedSquare Place mixed-use complex will include 37,000 square feet of medical office space and 86 active adult, independent living dwelling units. Residents will have access to an amenity package designed entirely around a health and wellness lifestyle geared for individuals 55 plus, including fitness facilities, an outdoor vita-course, private dining with nutrition dining packages, transportation, concierge services and more.
“We are pleased to assist our client AJP Ventures with providing this necessary adult living and medical office project in the heart of the Westchester area,” Navarro said. “We worked closely with our client to obtain the necessary government approvals to make this project a reality, while also providing aesthetic improvements to the neighborhood.”
Perez expects the total project cost to be $29 million, and is working with Live Oak Bank, a Wilmington, NC-based lender, who has a dedicated senior living lending platform. The active adult units will range between 750 to 1,020 square feet and rent at MedSquare Place will start at $2,750 per month, which includes all day nutrition dining packages and utilities.
“After completing an in-depth market study on senior housing needs and wants in the Westchester submarket, we found an immediate demand for an active senior lifestyle community,” Pérez said. “As people age, feeling comfortable where they reside and having ties to a community are important factors. MedSquare Place will allow seniors to retire close to their adult children and stay in their hometown, where they also have access to healthcare and other necessary amenities.”
Pérez expects to commence demolition of the existing building by the beginning of April 2020. Construction is expected to begin by late summer 2020, with completion slated for summer 2021.
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