Source: Adora Holdings / #Senior #Housing
DALLAS, TX - Adora Holdings recently awarded a contract to Adolfson & Peterson (AP) for the construction of a new Senior Living community in Dallas, named Adora Midtown Park. Construction commenced on the project on February 3, 2016.
Designed by Page and developed by a joint venture between US Freedom Capital and OnPointe Health Development, the 77,132 square-foot, three-story campus will offer 109 skilled nursing and assisted living suites. The project is located at 8160 Meadow Rd., near the intersection of Meadow Road and Manderville Lane in Dallas, Texas, immediately north of the Presbyterian Dallas Hospital.
“AP is excited to partner with US Freedom Capital and OnPointe Health on this important project,” said Corbett Nichter, Senior Vice President with Adolfson & Peterson Construction. “AP has arranged a veteran team of Senior Living experts to manage this project and our commitment is to deliver best-in-class construction services while serving as a strong community partner.”
“US Freedom Capital and OnPointe are excited to have AP on board as the general contractor for Adora Midtown Park,” said David Gunderson, a Principal of US Freedom Capital. “Adora Midtown Park’s innovative design and hospitality-style facilities will provide an unmatched level of transitional post-acute care and senior living accommodations for the discriminating residents of North Dallas.”
Funding for this project was provided in part by foreign investors seeking US residency through the EB-5 Investor Visa program. US Freedom Capital and OnPointe Health provided bridge capital to the project, helping to quickly launch a quality investment opportunity while the investors’ petitions work their way through the immigration process. Investors from China, Saudi Arabia, Canada, Brazil and India are helping to create over 290 new jobs in North Texas.
Substantial completion is slated for March 2017.
Once construction in completed, OnPointe Health Management will operate the facility.