Land Deal Paves Way For New Senior Housing in Walnut Creek
Continuing Care Retirement Community at The Orchards Will Be First of Its Kind in Contra Costa County
WALNUT CREEK, CALIFORNIA (June 20, 2015) – Northern California Presbyterian Homes and Services (NCPHS) announced today that it has officially closed on the multi-million dollar purchase of a 3.8 acre parcel of land from Terramar Retail Centers (TRC) at The Orchards development in Walnut Creek. NCPHS began negotiating for the land in late 2013 and the land deal officially closed on June 19, 2015.
The new senior community, Viamonté at Walnut Creek, will be a joint venture between NCPHS and Episcopal Senior Communities (ESC), two venerable, non-profit senior housing and services operators with decades of experience in the Bay Area.
The land for the new community has been purchased by Senior Services for Northern California (SSNC). SSNC is NCPHS’ s supporting foundation, which raises funds to support NCPHS’s mission of meeting the needs and improving the quality of life for seniors. SSNC will own the land during the development period. “We had several financing options available to us,” said Dave Latina, Vice President of Business Development for NCPHS. “We chose to borrow from SSNC because it created the opportunity to not only purchase the property immediately, but also provided our foundation with a solid investment.”
Viamonté will be the first Continuing Care Retirement Community (CCRC) in Contra Costa County, which will be part of a larger retail development led by TRC. When completed, the Orchards Development site will include shopping and dining, a new
Safeway Store, trails and outdoor community areas, along with the new senior housing community. The property was formally the site of Safeway Supermarket test kitchens.
“Walnut Creek is one of the top senior housing markets in the country,” said Latina. “We’re thrilled about the opportunity to build the first CCRC in Walnut Creek because it’s such an exciting location.”
The new community will include 173 units with an eye towards offering a dynamic, contemporary, urban lifestyle in spacious 1, 2 and 2+den bedrooms. The community will be located at the corner of Shadelands and North Via Monte along the northwestern edge of the Orchards mixed use development.
The design for Viamonté will incorporate the Heritage Oak trees on the site estimated to be several hundred years old. In a unique move, NCPHS has conducted several focus groups with local residents to have them weigh in on amenities and service offerings that seniors really want. This approach is helping to redefine the senior housing category by giving NCPHS and ESC critical consumer feedback long before a nail is hammered on the new community.
Reservations for the new community will start later this year. Viamonté has already begun the process of building a new information center, complete with a model unit, so interested seniors can get a sense for what life will be like in the new community.
Interested parties should contact Staci Chang at email@example.com or by phone at 415-351-3644.