Fort Worth's senior community at Ridgmar Place is set for a substantial makeover with a $5 million price tag, confirmed by a filing with the Texas Department of Licensing and Regulation. This renovation, touted to refresh the exterior of the living complex, is expected to wrap up by the end of March.
According to the Texas Department of Licensing and Regulation, the project kicked off on December 29 last year and will substitute weather-worn stucco, barriers, and windows with new ones across the 230,698 square feet of Ridgmar Place, situated at 2151 Green Oaks Rd. Goleski Architectural Design of Carrollton has taken the helm as the project's design firm.
Managed by Pegasus Senior Living, this establishment provides both independent and assisted living options replete with an array of amenities like fitness programs and day trips. A comprehensive lifestyle appears to be a centric value to Ridgmar's operation, offering ten distinct floor plans and serving daily meals to its occupants.
Meanwhile, as Fort Worth's mature demographic finds itself at the center of real estate development, another senior-living community is set to break ground in nearby Saginaw. Bonner Carrington, an Austin-based developer, is prepping for a $65 million project. Citing a grand analysis by Grand View Research, "Active adult communities have gained tremendous market appeal from investors, which is believed to be one of the most opportunistic investments in recent years", as reported by The Dallas Express.
This sector's heat is far from cooling off, with estimations suggesting a value of $588 billion in 2022 and projections forecasting a compounding annual growth rate of 4% through to 2030. Echoing the U.S. Census Bureau's mid-year figures, the majority of Baby Boomers will have turned 65 by 2030, representing a solid 21% of the nation's populace.
