$180M senior living project planned for Kiawah Island near Charleston | Real Estate

A $180 million senior living development is coming to Kiawah Island and, as the cost and location suggest, it will be upscale in nature.

The newly formed Kiawah Life Plan Village Inc. recently bought 9 acres next to Freshfields Village Shopping Center from Kiawah Partners to develop Seafields at Kiawah Island.

The new 62-plus luxury community at 200 Farm Lake Road fronts onto Seabrook Island Road and will offer 98 one- to three-bedroom independent living residences and 16 assisted living and continuing care units. Independent living quarters range from 903 square feet to 2,856 square feet.

Seafields residents will have the option to purchase contracts with a 90 percent or zero percent return of equity. Entry fees for units range from $435,000 to about $3 million.

The project is scheduled to break ground by early fall and be completed by the fall of 2023.

The development is meant to help meet the demand of the nation’s aging population and in response to requests from Kiawah and Seabrook property owners who want to age in place.

Beverly Hills, Calif.-based Big Rock Partners will develop the property. It will feature an in-house medical clinic operated by the Medical University of South Carolina.

Kiawah Island Real Estate will manage sales and marketing for Seafields. Reservations are already being taken.

“Over the next five years, it is anticipated that there will be about 31,000 additional 65-plus residents in the sea islands area,” said Richard Ackerman, managing partner of Big Rock Partners.  

In the fall of 2023, the Sea Islands Freestanding Emergency Department, the result of a 5-plus year venture between Kiawah Partners and MUSC Health, will open within walking distance of Seafields.

It will provide 24-hour lifesaving care in its emergency department with trauma rooms, an onsite lab, four exam rooms, imaging technology and a helipad for faster transfers. Primary and specialty care will also be offered for those residents who are looking for more convenient alternatives to their current providers.

New homes

A new housing development is sprouting off Jedburg Road near Summerville.

Mungo Homes is developing Petterson Meadows, a development with more than 170 one- and two-story homes about one mile north of Interstate 26 between Nexton and the Volvo Car campus.

With prices starting in the low $300,000 range, the homes will measure between 1,700 and 3,000 square feet. They’ll come in 10 floorplans with three to six bedrooms and two to four bathrooms. Some designs feature a primary bedroom on the first floor.

Most plans include a designated home office, flex or bonus room or extra bedroom. The latest features and designs in the natural gas community also include a comprehensive energy-efficiency package.

Planned future amenities include walking and biking trails, a three-acre park, playground, activity fields and an oyster shed and fire pit.

Carolina One New Homes is marketing Petterson Meadows.

Acquisition

Mount Pleasant-based Ziff Real Estate Partners recently acquired Fishers Crossing, a 29,569-square-foot retail shopping center in what it described as an affluent Indianapolis suburb of Fishers.

The purchase price was not disclosed.

The property was 100 percent occupied at the time of purchase. It is shadow anchored by a recently renovated Kroger supermarket and houses national tenants such as Pet Supplies Plus, Great Clips and Papa John’s.

It’s Ziff’s second recent acquisition near Indianapolis. In mid-August, the company acquired a 215,100-square-foot industrial property called Directors Row. Major tenants include Fiserv, Rocore Thermal Systems and Evens Time.

Reach Warren L. Wise at 843-819-9269. Follow him on Twitter @warrenlancewise.