SAN DIEGO, CA - Douglas Wilson Companies (DWC) has announced the opening of Sienna at Otay Ranch, a $32 million project that is the company’s first in a new series of senior housing communities planned for the Western Region over the next 10 years.
Located at 1290 Santa Rosa Dr. in Chula Vista’s popular Otay Ranch, Sienna is a 111-unit, two-story building comprised of 85 apartments for assisted living and 26 units for memory care.
“With our entry into senior housing, Douglas Wilson Companies has launched a business platform to meet the needs and aspirations of America’s aging population,” said Douglas Wilson, chairman and CEO of DWC, who noted that Sienna’s to-date occupancy has outpaced expectations, likely due to the market leading resort-like design and amenities provided.
“Today’s generation of healthier, more independent-minded seniors is unwilling to settle for facilities built 20-30 years ago. Their expectations are higher, and the range of care they need fluctuates dramatically. To meet this demand, we’re planning more properties like Sienna, which we’ll add to DWC’s build-and-hold portfolio.”
Sienna offers studio, one- and two-bedroom floor plans from 500 to 800 square feet, with monthly rents from $3800 to $5500, including meals and housekeeping. In addition to many upmarket resident amenities, services available through Sienna’s Wellness Center include geriatric care, optometry, dentistry, podiatry, rheumatology, lab services, and a regularly scheduled onsite Nurse Practitioner.
Now entering its 30th year in the real estate business, DWC prides itself on a quick response to market changes. After completing San Diego’s mixed-use Symphony Towers in 1989, Wilson emerged as a leading developer of high-end condos in support of downtown San Diego’s new Petco Park baseball stadium. When real estate faltered, he pivoted to become one of the nation’s leading Receivers, handling more than $15 billion in troubled properties across all asset classes.
“We pride ourselves on our ability to respond to market changes, whether it’s a real estate boom or bust, or a looming demographic shift like today’s aging population,” said Wilson. “Knowing that older Americans will outnumber kids by 2035, we are laser focused on needs and opportunities associated with what I like to call the ‘Silver Tsunami.’”
DWC is joined in the Sienna joint venture by Milestone Retirement Communities, who handles management responsibilities.