Drever, Adler Begin Construction On Senior Living Community In Allen
Baby Boomers in Collin County will soon have one more place to call home. Drever Capital Management (you know, the same people who are redeveloping 1401 Elm, newly named The Drever) and The Adler Group began construction on a 242-unit active senior community in Allen.
The Adlers at Twin Creeks is within the master planned Twin Creeks off Highway 75 and will target Boomers around age 70, though minimum age to move in will be 55. The community will have loads of activities, amenities and a resort-like atmosphere. Phase 1 will deliver December 2017.
In comparison to the many other senior properties coming online in the area, The Adlers at Twin Creeks has committed to solving the "affordability crisis plaguing seniors today," Drever senior managing partner Noah Drever says. "Our price point will be lower, but our property will be just as nice," Noah tells us.
As for competing with traditional multifamily in the area, Noah says The Adlers will appeal to residents who want to live with like-minded people with a strong sense of community. They'll also offer programs specifically designed for Baby Boomers.
Units rates start at $1,400/month and range from 730 SF to 1,280 SF. All units will have a balcony, granite countertops, GE stainless steel appliances, side-by-side washer/dryers, energy-efficient lighting and water heating, and eco-friendly plank flooring. Co-developer Tim O’Hanlon, president of The Alder Group, says the project will be architecturally significant. Architectura principal Frank Polacio designed the property.
Drever Construction president Steve McCoy will oversee the addition of residential and recreational amenities, and will work alongside the general contractor, KWA Construction.