Continuing Life Communities, a local retirement community management firm, has paid $18.5M for a 53-acre parcel of land in Scripps Ranch. The company plans to develop a retirement community at 10495 & 10410 Pomerado Road in San Diego.

“This is the last large undeveloped site in Scripps Ranch, which provides a spectacular location to develop a first-class community that is greatly needed for the Baby Boomer population nearing or already in retirement,” says Colliers International SVP David Santistevan, who leads the land team at Colliers San Diego. He, along with SEVP Gunder Creager, repped the buyer, The Glen at Scripps Ranch LLC, an affiliate of Continuing Life Communities, and the seller, Alliant Educational Foundation.

The Glen at Scripps Ranch will include 450 assisted living units comprised of apartment and single-family residences with attached garages, as well as 60 skilled-nursing beds. Among campus amenities planned are a fitness center and spa, tennis courts, a short-game golf course, walking and cycling trails, and a movie theater. The project will break ground soon.