Dogwood Forest of Acworth, a senior living community developed by Solomon Development Services and completed in 2014, recently celebrated 100% occupancy for the second time in less than two years after it’s opening. The assisted living and memory care community was the seventh community to join the Dogwood Forest family of communities located in the Atlanta Metropolitan Area.
The 92 unit community consisting of 68 assisted living and 24 memory care apartments had 50% preleased before opening. The community was full by August 2015. The community has also outperformed in other fiscal areas. The projected development budget for the project was $21,765,086 and was developed $2.8 million under the projected budget. Projected budget for 2016 revenues was $5,401,404 and annualized results from January – April 2016 was $5,408,043. The original basis was $18,993,452 and is currently under contract to be sold for $34,250,000.
The 93 unit, three story, 87,000-square-foot property opened in July 2014 and held its official grand opening fall of 2014. Along with offering both assisted living and memory care services, the community’s other offers also includes respite stays, adult day services, and post-operative care.
A 181 unit Independent Living community is planned to begin construction fall 2016 on the same campus joining The Holbrook Independent Living family of IL communities. Solomon Development Services will serve as the developer for the project.
MORE ABOUT SOLOMON DEVELOPMENT SERVICES:
Solomon Development Services is an Alpharetta, Ga. based developer focused in senior living housing. When designing, SDS takes into careful consideration the ever-changing discretionary customer, top trends and focused needs of seniors. SDS strives to create unique and health based senior living environments where senior adults can thrive. The company is experienced with the complexity of senior care operations, state specific regulatory requirements and fully understand the importance of residential appeal. As lead development and management consultants to over $1.9 billion of real estate development in this sector, our award-winning communities and their respective high occupancy levels are a testimony to our ability to create appealing, unique living arrangements.