Newspaper article The Florida Times Union

Vestcor's Getting into Senior Living

Newspaper article The Florida Times Union

Vestcor's Getting into Senior Living

Article excerpt

Byline: Roger Bull

San Jose Boulevard is getting another senior living center in Mandarin. Vestcor Cos., which is based in Jacksonville, is building a three-story, 104-bed facility that will have 46 independent living apartments, 34 assisted living beds and 24 memory care beds.

The $22 million project is going in at 12276 San Jose Blvd., just south of the Marbon Road intersection. It doesn't have a name yet, and Vestcor will be contracting with another yet-unnamed company to operate.

This is Vestcor's first venture in a senior living facility, but a spokeswoman Holly Hepler said it won't be the last. Construction should start next year with completion in 2017.

It's about 6 miles south of Watercrest at San Jose, which is under construction just south of Goodbys Creek. That will have assisted living, memory and, according to its website, wine-tasting and fine dining in its bistro.

By the way, Vestcor also has two other projects nearing completion. Residents will start moving into Caroline Oaks on North Main Street in December, Hepler said. Peyton Ridge off Atlantic Boulevard should be done in January.

Both are apartment buildings for low-income residents ages 55 and up.


Bartram Park continues to grow with a new five-story Marriott Residence Inn that's going in on Village Lake Drive off Bartram Park Boulevard. It will be 122 rooms and Vantage Construction has the $8.5 million contract. Construction has just started and is expected to take 12 months.

It's also right next door to Hampton Inn & Suites, and both hotels are owned by Impact Properties.

Kish Kanji, executive vice president, said the two hotels cater to a different audience. Hampton tends to have more transient guests, he said, while stays at the Residence Inn generally run six to 15 nights.

Most of the business there will be corporate.

Impact Properties, which is based in Tampa with offices in Jacksonville, develops and runs the hotels, also owns the Holiday Inn Express on Salisbury Road and the Castillo Real Resort Hotel in St. Augustine.

It also develops and owns franchises for Burger Fi and Firehouse Subs.

Kanji said the company is looking for other hotel sites in the area.

"Obviously the Town Center is an exciting place," he said. "But finding a site can be challenging."

He said he has talked with two developers who are putting new projects in across the street from the Town Center. But prices are going up quickly.

"It's pretty far from what they're talking about to what we would consider," he said.


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989 Imeson Park Blvd., renovation and addition to Star Fabricators, $1,120,446, 6,362 square feet, Stellar Group. …

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