McFarlin Targets Secondary Markets
Orchard Park at Victory Lakes is open. The League City property features 60 assisted living units and 40 memory care units. Developer McFarlin Group principal Matt Johnson, principal Dustin Pridmore, and VP Josh Rosen tell us the firm is targeting secondary markets like League City to build this type of product because the major metros have seen a lot of this development over the last few years and are in danger of overbuilding. (Many multifamily and MOB developers have moved into building assisted living and memory care recently.) Along these lines, Matt tells us his firm has its sights on our suburbs for its next development.
Orchard Park at Victory Lakes (pictured here) serves 136 residents and was completed in 12 months. Matt says McFarlin chooses its sites for proximity to other medical users and retail (they want adult children to be able to pick up their parents and take them out for shopping and lunch). This year it's focusing on building up that medical component--Matt tells us McFarlin is considering partnering with independent living developers to build adjacent to each other and create seniors housing campuses. (McFarlin is facilitating such a partnership now for its existing Pearland community.) The rest of the Victory Lakes team includes Stroud Development, Meridian Senior Living, GTF Design, Arthur Shuster Interiors, and Weis Builders.
