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Hyatt, MGG Capital Plan Senior Housing Projects

MIAMI-The hotel chain will build a $140 million, 402-unit, 539,602 sf complex in Aventura, Dade County. MGG and Realplan are going ahead with a $30 million assisted-living facility in Miramar, Broward County.

By Harold Kelman | Updated on August 09, 2000

With all of its oldsters, South Florida would seem a natural for seniors housing ventures. Yet when it comes to congregate-care-type projects, smaller facilities are finding it harder to compete. Two developers, however, have projects coming off the drawing boards that may help fill the seniors housing gap.

One of the most ambitious is a new Classic Residence by Hyatt. The hotel chain, which has been rapidly growing its stake in the seniors market, has announced a 539,602-sf complex for six acres at 19333 W. Country Club Drive in Aventura, adjacent to the Turnberry Isle Resort & Club and across from Aventura Mall.

Construction cost is put at $140 million. Twin 23-story towers will provide 402 independent living units in addition to on-site assisted living, Alzheimer’s care, respite and restorative care, as well as long-term skilled nursing.

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