ODESSA, TX- Dallas-based Prevarian Senior Living has partnered with Sears Methodist Retirement System Inc. to expand the existing Parks Methodist Retirement Village.
The $20 million expansion will add 70 assisted living units including a dedicated wing with 30 memory care units and a four-story, 80-unit independent living apartment building. The partnership plans to break ground on the project in Spring 2011.
The expansion is the first project for the JV, according to Dodd Crutcher, president of Prevarian Senior Living, a new company that was launched earlier this year to invest in senior housing properties. Sears Methodist is the largest faith based not-for-profit provider of senior care services and retirement living in the Lone Star State, operating 13 communities in Texas.
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