Belmont Village, Greystar Start Construction of 17-Story Seniors Housing Project Near San Diego
LA JOLLA, CALIF. — Belmont Village Senior Living and Greystar have broken ground on Belmont Village Senior Living of La Jolla.
The development is Belmont Village’s 32nd community and its third in San Diego County. The project is Belmont’s first in partnership with another developer.
“A mutual colleague brought us together — Greystar had sourced a terrific location with an entitlement history that made it a perfect opportunity for licensed seniors housing,” says Patricia Will, Belmont Village founder and CEO. “We saw the potential of the site, and of bringing our mutual expertise together to create something really unique in independent and assisted living.”
Belmont Village and Greystar jointly purchased the land in March and closed on a construction loan in April. The partners have collaborated to develop the project since late 2017.
Belmont Village La Jolla will be a 17-story high-rise with 180 units of independent living, assisted living and memory care.
The architect on the 209,000 square foot building is Joseph Wong Design Associates and project contractor is Suffolk Construction, both based in San Diego. The development is Belmont Village’s seventh project with equity partner Harrison Street Real Estate Capital.