MISSOURI CITY, TX-Wallace Bajjali Development Partners has broken ground on Hampton Pointe, a $50 million, master-planned project for seniors.

Situated on 21 acres at the northeast intersection of Murphy Road (FM 1092) and Hampton Drive near Highway 6, the project includes three phases: an assisted living/memory care facility, an independent living facility and patio homes. Wallace Bajjali partnered with The Kalikow Group and Outer Marker Properties to develop and operate the first phase, a 78-bed assisted living facility that will also include an Alzheimer’s unit.

Construction on the $13 million assisted living project is underway, according to Costa Bajjali, CEO and co-founder of Wallace Bajjali Development Partners. Dubbed Hampton Pointe Manor, the facility represents The Kalikow Group’s first investment in the assisted living arena. The Westbury, N.Y.-based firm provided a portion of the equity for the project, while Atlanta-based Outer Marker Properties offers more than 15 years of experience in designing assisted living facilities and senior care projects.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.