A. Lee Graham
Construction continues on an 82-unit assisted living and memory care facility in Flower Mound.
When open, Elan Oaks at 3281 Long Prairie Road is expected to create more than 100 new jobs and mark the first of a property portfolio that StoneCreek Real Estate Partners has under development.
Elan Oaks will be owned and funded by a joint venture between StoneCreek and The Collin Fund with financing from NorthStar Bank of Texas.
Managing the community will be Civitas Senior Living under the leadership of Wayne and Misti Powell.
“Our small company platform allows us to provide large company services with the attention to detail of a local owner,” said Wayne Powell, president of Civitas Senior Living, in a news release.
Powell previously owned The Courtyards at River Park, an assisted living facility in Fort Worth. Together, the management team has more than 20 years of experience operating senior living communities in Texas.
Handling construction is Resource Commercial Construction Inc. When open, the property will feature 58 studio, one-bedroom, and two-bedroom assisted living apartments as well as 24 private and semi-private memory care suites.