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Nexus Development makes $250M bet on luxury senior living

Nexus Development makes $250M bet on luxury senior living

Nexus Development Corporation is answering the growing demand for luxury senior living options in the Turtle Creek neighborhood of Uptown Dallas.

The California-based developer is set to start construction in October on Vivante at Turtle Creek, a 20-story project featuring 164 assisted living units, 29 memory care units, and an array of upscale amenities designed to provide a high standard of living, the Dallas Business Journal reported.

The project at 2505 Turtle Creek Boulevard represents Nexus Development’s first venture in North Texas.

The $150 million tower, slated for completion in early 2027. It will span 375,000 square feet, costing about $400 per square foot, along Turtle Creek. The building will offer a variety of living spaces, including assisted living units ranging from 1,000 to 3,000 square feet, and memory care units offering private and shared accommodations.

Vivante at Turtle Creek will also provide residents with access to a library, movie theater, chauffeured Mercedes transportation, a ballroom, beauty salon, and a yoga and Pilates studio. The project’s design is being handled by HKS, with Andres Construction serving as the general contractor, both of which are based in Dallas.

The tower is in a prime location near top-tier hospitals, plus plenty of retail and entertainment.

“We see Turtle Creek as one of the most desirable areas in Dallas,” Alder said.

The company’s plans to integrate the tower into the surrounding community by incorporating wide sidewalks, tree-lined parkways and green balconies, Alder said.

Founded in 1981, Nexus has built a diverse portfolio of office, industrial, residential, senior living and mixed-use developments throughout California. The company is currently building a 125-room hotel project in Palm Springs.

The senior living tower is one of several high-rise residential developments planned for the Turtle Creek area.

Validus Development Corporation is developing with a 30-story, 104-unit tower north of Hood and Brown streets. Hannover Company is building two residential towers at 2525 Turtle Creek. UDR has proposed a 25-story multifamily tower at 2743 Turtle Creek Boulevard, set to begin construction next June and be completed by December 2026.

— Andrew Terell

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