$100M SENIORS

As if “you know who” in human resources wasn’t enough reason for you to crave retirement, check out what awaits you. The $100M Tuscarora at Craig Ranch resort-style senior living project will begin pre-sales for the independent living accommodations in June, Craig Ranch real estate brokerage VP Karen “KK” Taylor (who brokered the deal for Craig Ranch) tells us. Mad Mag Development prez Jeff Yates says phase one construction should start 1Q11 on the assisted living, skilled nursing, memory care, and rehabilitation facilities with a 1Q12  targeted opening. “Pre-sale results will drive when the apartments and cottages will be built,” KK says. Life Care Services will oversee development, marketing, management, and operations of Tuscarora.

We snapped Craig ranch developer David Craig and KK in the welcome center. The senior market is booming, KK says, and will continue to grow, thanks to baby boomers. The continuum of care concept is a small facet of a 2,200-acre master planned development (which has a wellness focus, with the Cooper Fitness Center and Spa, the Michael Johnson Performance Center, a hospital, medical facilities and sports venues), she adds. David says “in an environment where projects are being scrutinized more than ever, it’s a testament to our team and Tuscarora that we made it over the finish line.”

Craig Ranch was born in the far southwest corner of McKinney along SH 121; the Tom Weiskopf-designed Tournament Players Club at Craig Ranch, the first project in the development, opened five years ago. The Dr. Pepper Star Center, a public/private partnership and the Craig Ranch Hospital with a 24-hour emergency room (for golfer’s elbow, or golfer’s torn meniscus) both opened this past fall.

We found the Craig Ranch OB/GYN (fortunately, we didn’t require an appointment) owned by Dr. Andrew Shimer— one of the first physician offices in the development. Having medical facilities within the confines of the project adds to quality of life for residents, which the development has in abundance. One residential area, Craig Ranch North is fully developed with 1,600 homes; K. Hovnanian Homes just bought 88 lots (home prices in the $300k to $500k
range) in The Villas at Craig Ranch making it the  first major buyer of
single family lots in the Metroplex since the downturn, KK says.