Rendering of Clarity Pointe in Coconut Creek

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.

Destin-based Clarity Pointe Development Partners, led by C. Rick Olson, also is planning to develop an assisted-living facility in Palm Beach Gardens. [South Florida Business Journal] — Mike Seemuth