We are pleased to announce that our Capital Campaign for The Legacy Midtown Park, our rental continuum of care retirement community under development in Dallas, has raised over $12 million in philanthropy toward our campaign goal of $15 million! The $15 million we raise in philanthropy plus $18.5 million we have obtained in other sources of revenue will total $33.5 million in equity to contribute toward financing the project. More than 100 families have participated in the campaign with many more prospective donors who have indicated an interest in helping us build this exciting new community for our Jewish seniors.
Under the leadership of Michael Ellentuck, Director of Project Development for The Legacy Midtown Park and building co-chairs Bruce Bernbaum and Mark Zale, the scope of the project has evolved since its inception allowing us to care for more seniors with better efficiency. Without increasing the common community spaces, we have added more independent living apartments, redesigned memory care so that a few additional apartments could be added, and have improved the flexibility and safety of the structure by going with post tension construction.
The updated community design will now have:
• 178 Independent Living apartments
• 50 Assisted Living apartments
• 34 Memory Care suites
• 54 Skilled Nursing suites
We anticipate breaking ground in June 2018 to begin construction of the skilled nursing building. At the same time, site work will take place and construction will begin on the remaining buildings. The skilled nursing building, with a 15 month build, will open in the fall of 2019 followed by the rest of the community opening in 2020.