A joint venture broke ground for construction of a 95-bed memory care facility in Coconut Creek called Clarity Pointe.
The developers formed a company, CP-Coconut Creek Development I LLC, and obtained a $13.8 million construction loan for their project in Coconut Creek from an Arkansas-based lender, Centennial Bank.
CP-Coconut Creek Development I LLC is a joint venture between AIG Global Real Estate Investment Corp and Clarity Pointe Development Partners.
The developers recently paid $2.5 million for the 5.1-acre development site at 5461 Johnson Road in Coconut Creek. Crystalis Inc., managed by Louise Brunner, sold the land, which formerly was the site of a plant nursery.
The two-story memory care facility in Coconut Creek will have 60,972 square feet of space and will feature an interior courtyard, a salon and spa, a butterfly garden and an artificial lake.
The Clarity Pointe facility would provide nursing care and assisted-living services to residents with Alzheimer’s disease and other memory disorders.