Burton Station Veterans & Seniors Assisted Living Facility
Burton Station Village, Project Overview
The Burton Station Village Complex is a premiere mixed-use lifestyle and retail center situated in the strategic planned development on Northampton Boulevard near Wesleyan Drive and I-64 in Virginia Beach, Virginia. The Burton Station Village area is already home to Virginia Wesleyan College near Lake Wright and the planned development of the new outlet mall in Norfolk, Virginia by Simon Group. Burton Station Village is in close proximity to the Norfolk International Airport, Military Circle Mall, Janaf Shopping Center, Virginia Wesleyan College, Regent University, and the new 19-acre Town Center development.
Working in close collaboration with the City of Virginia Beach, PPL is well aware of the unique opportunity of the Burton Station Village site, truly a potential “jewel” that will strategically help grow the Northampton Boulevard/Lake Wright area.
Project Description:
Working with the primary developer, ALSENIOR Development, INC shall construct the Veterans Assisted Living Facility on approximately FOUR acres, of the sixty plus acre Burton Station Village mixed-use project site.
The 4-Acre site designated the Veterans Independent Living and Assisted Living Facilities, both of which is approximately 5- story buildings. The remaining 62 acres of Burton Station includes approximately 120,000 SF of commercial retail space, 100 multifamily luxury apartments, 64 garden apartments, 170 townhomes, single family homes, clubhouse/ community center and a Memorial Park. Provide a review of the master plan only in order to gain a better understanding of the capacity of the 4 acre site.
Existing Zoning: The Parcels for the Veterans Assisted Living Facility is currently zoned R5D. ADI and Providence Partnership, LLC (Development Team) will work together to have the 4 acre parcel rezoned if needed to accommodate the Veterans Assisted Living Facility.
Building-1: 200 unit. 4-Story Independent Transitional Housing Facilities: This facility shall be constructed adjacent to the proposed assisted living building on the same 4 acres. Units for the independent living facilities shall be designed for two bedroom units with two bathrooms per unit. Parking located around the both buildings, and a nearby parking deck. The design shall only include minimal parking spaces, primarily designated for ADA spaces with 24/7 on-site.
Building -2: 270-Unit Assisted Living Building: This multi-level veteran assisted living building includes 24/7 customized health care for veterans with a variety of mental and physical health care needs. Units will be One-bedroom units and One-bathroom.
STATS:
- Development Type: Veterans Independent and Assisted Living Complex
- Co-Developer / Development Consultant: ALSENIOR Development, INC.
- Development Location(s): Virginia Beach, Virginia USA
- Total Development (Maximum) Cost: $200 MM USD including finance fees
- Equity: $50 MM USD at 22% Ownership
- Joint Venture Partnership: Yes
- Status: Currently negotiating funding terms