Nexus Plans $190M Luxury Senior Living Tower in Dallas
Turtle Creek project is developer's first community outside California, first tower.
Nexus Companies, a California-based developer of luxury senior living communities, has unveiled plans to build its first luxury high-rise—and its first senior multifamily project outside the Golden State.
Nexus has acquired a 1.3-acre parcel in the affluent Turtle Creek neighborhood of Dallas where the company plans to build a 20-story senior living community that will be known as Vivant of Turtle Creek.
The $190M project, which will be designed by the Dallas office of HKS, is expected to break ground in Q2 2023. The luxury tower will include 168 assisted living units and 30 memory care units.
Vivant of Turtle Creek will rise at the vacant corner of Turtle Creek Boulevard and Fairmont Street just north of Big D’s Uptown District. The site was previously owned by a Canadian firm that received approval to build luxury condos.
Newport Beach-based Nexus has a diversified development portfolio including multifamily, office, storage and hotel properties as well as senior living assets.
Nexus has developed several senior living communities in California under the Vivant brand, including Vivante On the Coast and Vivante North, both operated by Integral Senior Living.
The company is expected to cut the ribbon on its third senior living community in Newport Beach, to be called Vivante Newport Center, on November 1.
The luxury facilities for seniors in the Newport Beach boast some of the highest senior living rents in the nation—with some units having rents as high as $20K/month; with one-bedroom units starting at $5K/month.
Vivante Newport Center, which will encompass 99 assisted living and memory care units, offers amenities including a movie theater, golf simulator, bowling alley, salon and spa.
After the financial crisis of 2008, Nexus shifted its focus from retail and offices to hotels and senior living communities. The company’s first Vivante on the Coast facility in Costa Mesa in 2013. The campus was expanded in 2020.
The Vivante brand—the name means “alive” in Latin—is marketed as an upscale senior living community with up to 200 independent living, assisted living and/or memory care units per community along with luxury amenities.
According to the company’s website, the Vivante communities spend more on food than the industry standard, offering one meal per day from each community’s kitchen to frontline staff, who also get performance bonuses.