NASHVILLE, TN - In keeping with its long term growth strategy, Maristone Senior Living, headquartered in Nashville, has established a division to raise capital for future construction projects of senior living facilities in the underserved areas around Middle Tennessee.
Nationally Middle Tennessee is seen as an attractive place for retirees because of its amenities, natural beauty, low cost of living and no income state tax. Just last year US News and World Report named Nashville one of the best places to retire.
"With the great opportunity that exists today, as part of the explosive growth of seniors needing adequate housing to serve their special needs, we are seeking additional capital for Maristone," says Gaius Hill, director of real estate and development for Maristone. "Economists project that, even in this downturn, 2-4 million baby boomers will resettle in Middle and Eastern Tennessee in the next ten years and they will all need housing. This is the best time in history to build and operate these facilities."
Maristone is on schedule to open the first of its properties, The Maristone of Franklin (Tennessee), later this year and is currently breaking ground on a second community, The Maristone at Providence, in Mt Juliet. These two communities are already completely funded. However, negotiations are in the works for five other projects which have capital needs.
Individually properties will range in price from $6.5 million to $8.25 million. Square footage will vary from 36 thousand feet to 48 thousand square feet with the ability to expand. They will offer luxury living in 54 to 64 suites, a secure Alzheimer's/memory Care Community and adult day services. Each property will offer exclusive programs for residents.
Mr. Hill adds that Maristone's management approach is to work within each community to offer the best possible care for residents of each facility.
Maristone Senior Living was honored this summer with the prestigious "Best Of The Best Award" from the Assisted Living Federation of America (AFLA). The company was recognized for its outstanding marketing and community outreach program through uniquely designed and executed On Modern Age media platforms.
Source: Maristone Senior Living