When the Belmont Village Coral Gables opens in 2022, it will offer South Florida seniors a unique option: services from co-developer Baptist Health and proximity to the Shops at Merrick Park, with both independent and assisted living housing.
The 350,000-square-foot project Belmont Village Coral Gables is expected to start construction in late 2020, according to Belmont Village Senior Living Chief Executive Officer and Founder Patricia Will. The Houston-based developer, owner and operator is expecting the project at 4111 Salzedo St. to be completed by late 2022 after its $100 million build out.
The project consists of a 12-story building, with eight floors of rental units above a three-floor garage space and retail on the ground floor on 1.41 acres. The 232 units will range from a 400-square-foot studio with one bathroom to a 1,200-square-foot two bedroom, two bathroom apartment. Rent is expected to start at $6,000 per month; it includes meals, plus daily snacks, scheduled transportation and activities.
Residents will be 65 and over.
“Demand for senior housing is very strong right now in South Florida and will continue to be strong into the future as baby boomers become seniors,” Will said.
Baptist Health South Florida interviewed more than a dozen companies before hiring Belmont Village to co-develop and operate the facility, which will offer cognitive decline and memory care. Baptist will incorporate components of its Telehealth Center.
“The difficulty in our industry is that this is not just a real estate business,” Will said. “I do think there is a certain amount of development activity either out there or proposed that is thinking in terms of the real estate without fully internalizing how important it is to create value for the customer through the operating entity.”
The building will have multiple dining venues, a sports lounge, theater, gym, salon, music room, town hall center, a courtyard and a pool.
Baptist Health South Florida and Belmont Village Senior Living are exploring partnerships with the University of Miami and Coral Gables High School on “inter-generational opportunities with students,” Will said.
“Baptist Health’s partnership with Belmont Village Senior Living reflects the growing demand for high-quality home care within senior living settings,” said Ana Lopez-Blazquez, executive vice president, chief strategy & transformation officer, Baptist Health South Florida and chief executive officer, Baptist Health Enterprises. “This joint venture also reflects the deep commitment of both of our organizations to uniquely serve the health and wellness needs and improve the quality of life of the senior population in our community,” she said.
Baptist hired Corwil Architects to design the building and contractor Moss Construction Management to build the project.
Baptist Health South Florida announced the project in March 2019. It spent $37 million in January 2019 to acquire the three acres of land where Belmont Village Coral Gables and the Alta project are rising.
Several senior housing projects have either hit the market, including the Caribbean Village in Richmond Heights, or are in the pipeline across Miami.
“Seniors don’t want to leave the communities where they were living,” said Will. “They want to live close to their adult children and grandchildren.”
Read the complete article in the Miami Herald.