NEW BRAUNFELS, TX – Imprint Property Group (IPG), a premier, boutique developer and operator of active adult communities, today announced it has broken-ground on its third active adult recreational community in Texas.
Larkspur at Creekside, a spacious 184-unit, amenity and activity-rich community being created in the San Antonio suburb of New Braunfels, signifies the first of a series of projects in a joint-venture partnership with Batson- Cook Development Company (BCDC), an Atlanta-based subsidiary of Kajima Corporation, one of the oldest and largest developers in Japan.
“We are excited to launch Larkspur at Creekside, our third generation Larkspur 55+ branded community with Batson- Cook Development Company, says Noah Drever, founder and CEO of Tiburon, CA-based IPG. “Our vertically integrated partnership is well-positioned to build out our immediate development pipeline and further elevate “Larkspur” as a premiere boutique 55+ active adult national brand that is a total departure from the senior living sector as we know it today.”
The 9-acre community will be a major anchor of the master-planned New Braunfels Town Centre, a 400-acre community located 32 miles northeast of San Antonio and 48 miles southwest of Austin. Larkspur at Creekside sits directly next to a 1.81-acre green space and is adjacent to the $150 million Resolute Health Hospital and Wellness Center campus, and has direct access to over one million square feet of Class A retail.
Larkspur at Creekside will feature 32 two-bedroom private cottages as well 152 apartments in the main building. “Designed for people 55-years-old and up who want a carefree lifestyle in a location that’s ‘close-to-everything-important,’ it is a highly flexible, amenity-rich community that could easily be mistaken for a five-star hotel that also has innovative resident engagement programs that focus exclusively on research-based wellness, health, and enriching social experiences,” explains Drever.
In line with IPG’s “Larkspur” strategy, the property will boast Class-A finishes and 15,000 square feet of amenity space including a Great Room, a Display Kitchen for weekly “food network” inspired events, oversized 7-foot wide corridors, three elevator banks, individual fitness center, group fitness center, arts and crafts room, pub, game room, movie theater, salon, conditioned corridors, lap pool with water aerobics section, hot tub, pickleball court, and bocce ball court.
The average unit size is 1,000 square feet and each unit features full kitchens, quartz counter tops, glass walk-in showers, oversize oval tub, décor LED lighting, designer cabinetry, vinyl plank flooring, noise dampening walls to eliminate noise transfer, and a private balcony with a view.
“Just 10 miles north of Larkspur is Kissing Tree, Brookfield Residential’s luxury, high-end, for-sale 55+ housing development consisting of 3,200 homes. We aim to provide our residents with the same amenity-rich lifestyle but at an affordable rental price for those who no longer want to take on the burden and responsibility of home ownership, property taxes, mortgage, maintenance, landscaping, etc.,” says Drever.
IPG currently owns and operates two other Larkspur communities in Allen, TX and Pearland, TX which the firm also developed from the ground-up. With an in-house property management team, IPG prides itself on expertise in the niche asset class of active adult rental communities.
“We are always searching for the next progressive resident activity to add to our tried, true and tested program. Our goal is simply to provide the most exciting and enriching lifestyle at a financially comfortable price point,” Drever adds.
Larkspur communities offer rents that are a percent discount to traditional independent living. “Our residents are asked to choose between continued homeownership and full-service independent living. Larkspur 55+ is the economic option among this realistic set of choices and it also allows them to take advantage of our rich programming, amenities, and activities.”
Larkspur at Creekside is expected to open its doors in the summer of 2022. IPG is already in pre-development on its fourth Texas Larkspur community in Round Rock, TX with plans to expand Larkspur communities into New Mexico, Arizona, Nevada, and Georgia.
“We at Batson-Cook Development Company are excited about the opportunity to partner with Imprint Property Group in the development of what is to be a special project in New Braunfels,” said Litt Glover, president and CEO of BCDC. “The Larkspur projects created by IPG are premier 55+ active adult communities and the location for this new offering is perfect for the product. We have been extremely impressed with the professionalism and talent of our new partners, and we look forward to a long programmatic relationship with the IPG team.”
Amegy Bank and Fast Preferred Equity are providing financing, along with IPG and BCDC. HEDK Architects of Dallas is the architect, and Godfrey Construction Company of College Station, TX is the general contractor.