Arcadia Senior Living Clarksville: Live Life on Your Terms
In early 2015, the Arcadia Communities team began planning for a new facility that would sit on beautiful farmland and serve as a place where seniors could live life on their own terms. Fast forward two years and that community is now part of an emerging development that is set to open in the spring of 2018.
The vision for Arcadia Senior Living Clarksville was to create the premier senior living community in middle Tennessee that provides seniors with the best lifestyle opportunities including independent living (IL), assisted living (AL) and memory care (MC) services. Its scenic location is conveniently close to local churches, shopping centers, health care facilities, restaurants and other entertainment options. From the team’s first discussions, the primary goal was to operate the business with honesty, integrity and compassion in an environment where residents are encouraged to live active, fun and fulfilling lives.
Financing the Clarksville Facility
Arcadia Communities, headquartered in Louisville, Kentucky, was founded in 2008 and owns and operates three seniors housing and care properties in Kentucky, Louisiana, and Michigan. After deciding to expand its footprint, Arcadia sought funding to construct a new 79-unit seniors housing and care community. The project is located approximately 50 miles northwest of Nashville in Clarksville, Tennessee.
“I’ve long thought this property was a superb location for a retirement community with its rolling hills and beautiful scenery along with its proximity to shopping centers, health providers and other local amenities,” said Brian Durbin, president of Arcadia Senior Living. “Our team has been working for quite some time to make this project a reality.”
Arcadia is a repeat client of Lancaster Pollard and its Propero® Seniors Housing Equity Fund and was seeking an equity partner to fund hard and soft construction costs totaling approximately $12.1 million for the Clarksville facility. The Propero structure offered Arcadia an equity solution that allowed them to minimize the amount of upfront capital and provided a clear path to ownership.
“We were excited to continue our partnership with Arcadia Communities in their development strategy. We’ve thoroughly enjoyed assisting with the organization’s growth over the years,” said Chris Blanda, senior vice president at Lancaster Pollard. “Our fund has allowed them to stretch their capital, accelerate their development plans, and get out in front of competition with a great product in some underserved markets.”
Below are a few of the areas that residents and their families will be able to enjoy at Arcadia Senior Living Clarksville:
- Community baking kitchen and art studio
- Senior friendly fitness and rehab center
- Chapel and prayer room
- Coffee and internet lounge
- Happy hour pub and café
- Theatre room
- Beauty and barber shop
- Game room and poker lounge
The team intends to support the residents in leading a healthy and enjoyable lifestyle in every way possible, including physical, mental, emotional and spiritual wellbeing. The facility will offer programs and services each day for residents, including exercise and fitness classes, card games, happy hours, music and entertainment, computer classes, walking groups, book clubs, wine tastings and various guest speakers that will educate them on the latest in health and wellness. The goal is to support the residents’ desire to engage life, have fun, remain independent and continue to contribute to their community.
The facility is planning on opening in spring 2018 and is currently accepting applications for residents. More information can be found at: www.arcadiaclarksville.com.