Author Archives: Alex Pichon

The Village at the Triangle in Austin, Texas was recently selected as the winner of the ‘Best CCRC Design’ award for 2018. The Bridgewood-developed community opened its doors to residents in the fall of 2018 and offers independent living, assisted living, and memory care options. The project was a joint-venture between Bridgewood and Austin-based W2 Real Estate Partners, was designed by House+Partners, and built by Harvey-Cleary builders.

More than ninety communities were nominated for this year’s Senior Housing News (SHN)’ Architecture & Design awards which evaluates amenities, integration into the surrounding community, and unique design elements. The Village of the Triangle was selected for its timeless design, multitude of offerings, and its upscale amenities located in the heart of Austin’s mixed-use Triangle development. 

A link to the full article at Senior Housing News can be found here.

The Village at the Triangle is managed by Retirement Center Management (RCM), To learn more about other RCM communities near you, please visit Retirement Center Management’s website.

About Bridgewood Property Company

Bridgewood Property Company develops and manages premier senior living communities in carefully selected markets. The Bridgewood team has developed more than 4,700 independent, assisted living, and memory care units, representing more than $1.1 billion in asset value. Known for caring professional staff and providing excellent resident care, the company’s overarching goal is to enable our residents to Live Life Well®. For more information, visit https://www.bridgewood.us.

Village at Southampton to Set Pace in Urban Senior Living Innovation

Bridgewood Property Company today launched construction on the company’s newest luxury senior living property, the innovative high-rise Village of Southampton. Located in the historic, prestigious Southampton Place neighborhood, the newest addition to Bridgwood Property Company’sindustry-leading senior community housing portfolio is one block from Houston’s best-in-class Rice Village shopping and dining district.

The Village of Southampton is expected to be completed in Spring 2020, bringing independent living, assisted living, and memory care services to the neighborhood.

High-rise senior living is an emerging trend in the senior living market. The model enables more senior living communities to locate in areas with costly urban real estate, allowing urban seniors to stay in the city in which they have always lived. High-rise senior living also provides residents with high-quality apartment homes and amenities, highly personalized services, and opportunities for ongoing connection with their communities.

“One of our primary considerations in identifying an appropriate location for a new senior community is enabling prospective residents to stay in the neighborhoods where they have always lived,” said Jim Gray, President and Founder of Bridgewood Property Company. “We saw that this well-loved, long-established Houston enclave was very much underserved in quality senior living options. The Village of Southampton will fill a distinct gap in this market, enabling seniors to Life Life Well® without having to relocate away from neighbors, friends, churches, or families.”

The Village of Southampton will primarily serve residents of Southampton, West U, Bellaire, Rice University, and Braes Heights. The project will deliver 17 floors of luxurious apartment homes with beautiful skyline views of downtown Houston, Rice University, Herman Park, and The Texas Medical Center. Amenities include an indoor heated pool and spa, fitness center, movie theater, full-service salon, outdoor terraces, secured garage parking for residents and guests, valet and concierge services, formal and private dining, Bistro, and sky lounge. Residents can take advantage of shuttle service to local destinations.

The Village of Southampton’s premier location and proximity to Rice University will give residents the opportunity to engage in the university’s academic and athletic programs. The location is just steps away from Rice Village and close to the Texas Medical Center—the world’s largest medical center. The Village of Southampton will be managed by Retirement Center Management.

The Village of Southampton joins Bridgewood Property Company’s portfolio of prestigious senior living communities in Houston—The Village of Meyerland, The Village of River Oaks, The Village of Tanglewood, and The VIllage of the Heights—as well as the innovative The Village at the Triangle in Austin’s eclectic Triangle area, and properties in Spring, Denton, Richmond and other communities in Texas.

About Bridgewood Property Company

Bridgewood Property Company develops and manages premier senior living communities in carefully selected markets. The Bridgewood team has developed more than 4,500 independent, assisted living, and memory care units, representing more than $1 billion in asset value. Known for caring professional staff and providing excellent resident care, the company’s overarching goal is to enable our residents to Live Life Well®. For more information, visit https://www.bridgewood.us.

Media Contact

Lynn Wallace, Sr. VP of Sales & Marketing
Retirement Center Management
(281) 996-0101
lwallace@rcmseniorliving.com

Senior Living for Less
(article originally featured in Plante Moran Living Forward, Senior Housing News)

Existing developers like Drever Capital Management and Bridgewood Property Company have developed a less-expensive senior housing option in major markets like Austin and Atlanta.

Among development companies, there are few actively targeting the void for middle-market senior housing by offering a “light” version of the existing model.

This off-price housing looks and feels a lot like the high-end senior housing that runs about $3,600 per month on average, but is offered at 10% to 20% less by controlling development costs and operating costs.

For some, the model has worked well, but developers agree that controlling costs to the extent needed in order to offer the product widely is a great challenge.

Houston-based Bridgewood Property Company recently completed its first lower-cost senior living community, located in the greater Austin, Texas, area. The company has three additional projects of this type in various stages of development—with success so far in its completed community—as well as numerous high-end developments completed and in progress in the sector.

Monthly rents for consumers in the off-price communities are roughly $1,000 to $1,500 less than for the developer’s high-end urban properties.

“It’s still not what I would call ‘inexpensive,” says James Gray, Bridgewood’s founder. “It’s still a challenge to get the price down, but we are certainly renting for a lot less [than the high-end communities].”

A focus on independent living may be one key to success. The community has 80 independent living units, 24 assisted living units and 22 cottages, all on nine acres in greater Austin, Texas.

The company has reduced construction and operating costs by roughly 20% in a variety of ways, Gray says.

“We find there’s a lot of space not utilized except for two hours per day,” Gray says of the traditional model. Capitalizing on that finding can help reduce the building footprint by 20% across common areas, he says.

The initial success of the property already developed will serve as a prototype for the middle-market program going forward—in which there are several communities in various stages of development.