Independent-living facility planned for Lakewood Ranch

LAKEWOOD RANCH — A national developer of senior-living communities has committed to revive a plan to build an independent-living facility in Lakewood Ranch.

Schroeder-Manatee Ranch, Lakewood Ranch’s developer, sold 4.43 acres of vacant commercial property off Natures Way on the north side of Town Center Parkway to an affiliate of Hawthorn Retirement Group LLC, a Washington-based company, for $1.3 million.

The March 4 sale, according to court records, requires the purchaser to use the property as an independent-living facility that must be used for one or more buildings, have a maximum of four stories and contain no more than 151,349 square feet. 

Pete Russell, who manages the nearby Reflections Memory Care Center and Windsor of Lakewood Ranch, an assisted-living facility, formerly had the property that Hawthorn purchased under contract. He planned to develop an independent-living facility there.

But Russell reneged on the deal a year and a half ago due to the economy, and because he thought a larger provider, such as Hawthorn — which has retirement communities in Canada, the United States and United Kingdom — could better deliver the product.

Russell sold the buildings for the Windsor and Reflections to an Ohio-based real-estate investment trust for $30 million in 2012 — but he still manages them.

He expects the independent-living facility to be a great feeder for them. 

“(This) is a lifestyle choice,” Russell said. “Once the independent-living resident requires more assistance, the next step is us.”

Rex Jensen, SMR’s president and CEO, said SMR will try to attract more senior-living facilities.

He said the company is working on deals for a facility just north of Rangleland Parkway, as well.

“We have so many multi-generational families who live in Lakewood Ranch now,” Jensen said. “You have to ask yourself, why would they have to leave the community just because their life circumstances change?”

A spokesperson for Hawthorn declined to comment, saying it is too early to speak about the project.

Reflections Memory Care Center to expand
Reflections Memory Care Center will soon have an additional 12 apartment units.

Pete Russell, who manages Reflections and Windsor of Lakewood Ranch — an assisted-living facility — said he hopes construction on the new units will begin in the next two weeks.

“We had this extra capacity for awhile,” Russell said. “It’s just enough land to do it. We’re excited to expand our service.”

Contact Josh Siegel at [email protected].