$10.35 Million HUD Loan Paves Way for Assisted Living Project in Missouri City, Texas

$10.35 Million HUD Loan Paves Way for Assisted Living Project in Missouri City, Texas

Outer Marker Properties LLC is developing Hampton Pointe Manor, an assisted living and Alzheimer’s care facility in Missouri City, Texas. Upon completion, the 53,000 sq. ft. project will contain 77 units, with 54 units dedicated to assisted living and 23 units allocated to memory care. The two-story facility, which will feature high-end finishes and Class-A amenities, is scheduled to open in July 2011.

The development is a joint venture between Atlanta-based Outer Marker and Wallace Bajjali Development Partners LP. The project will be managed by the 410 Group, a sister company of Outer Marker Properties.

The development of Hampton Pointe Manor is partially financed through a $10.35 million loan provided by Houston-based Davis Penn Mortgage Co. The loan is insured by the Department of Housing and Urban Development’s Section 232 program, which has been overhauled during the past 18 months to expedite the loan application and approval process.

Section 232 insures mortgage loans to facilitate the construction and substantial rehabilitation of nursing homes, intermediate care facilities, and assisted-living facilities.

Hampton Pointe Manor is part of Hampton Pointe, a 17-acre, mixed-use “transitional living” community that will also contain active adult patio homes and an independent living facility. Future plans call for a skilled nursing facility and commercial space to be added.

The assisted living and Alzheimer’s care facility under development will be situated on 3.42 acres of the mixed-use development and will feature private dining facilities, an arts and crafts center, a special events venue, library, lounge, and a beauty salon and barber shop. The developers emphasize that they have preserved many of the trees on the site in order to create a tranquil outdoor environment for residents to enjoy.

The structure also will include an access-controlled memory-care wing, featuring a private courtyard and dedicated full-time staff. Specialty services provided to residents will include transportation, a full-time concierge and activities coordinator, resort-quality food service, wellness programs, weekly linen, housekeeping and laundry service, and assistance as needed with activities of daily living.

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