$25 million senior living community in Clarksville’s future
December 21, 2016 | News & Updates
CLARKSVILLE — A yearlong string of newly announced senior living communities in Clarksville continues with word Friday that the city is gaining a $25 million development on Professional Park Drive.
PGM Properties, LLC, a Brentwood-based developer; Coro Realty Advisors, LLC, an Atlanta-based developer; and Guest Services, Inc., of Fairfax, Va., plan to develop a 140-room-for-rent senior independent-living community at 811 Professional Park Drive.
PGM and Coro said in a news release they will oversee the development of the facility, to be called “The Aster at Clarksville,” and Guest Services will be the operating partner managing the facility. This will mark Guest Services’ first venture in Middle Tennessee.
Site work is expected to commence in the spring of 2017 with an estimated completion of summer of 2018. When completed, the community will feature what developers called Friday a “first-class restaurant,” health club, heated aerobics pool, library and media center, and multiple indoor and outdoor social areas, including a coffee bar, lounge and craft rooms.
Transportation and a full schedule of lifestyle activities will also be available.
Developers say the apartment homes will be spacious, open-concept living spaces with one- and- two-bedroom floor plans including full kitchens with modern, full-size appliances and washers and dryers in each apartment.
“The oldest baby boomers still aren’t 70-years-old,” said PGM partner John McReynolds, but we are at the foothills of real demographic expansion of the 75-plus, 80-plus, and 85-plus age that are driving demand for senior housing. The demographic boom people expected for this age group has finally landed.
“The Aster and other communities we have planned in Middle Tennessee are going to service this group dubbed ‘the silver tsunami.’ The Clarksville location is conveniently located adjacent to the largest regional hospital, Tennova Healthcare – Clarksville, and the Governor’s Square Mall,” McReynolds said.
Corcoran-OTA of Atlanta will perform the project’s design and architecture work and the project’s engineering phase will be led by McKay-Burchett and Company Engineers of Clarksville, officials said.
Besides The Aster, other senior living communities confirmed in the past year for Clarksville include the $40 million Villages at The River Club on Warfield Boulevard, and The Arcadia on Chesapeake Lane, and there are indications of still others to come.
Jimmy Settle, email@example.com 3:58 p.m. CST December 16, 2016
Reach Business Editor Jimmy Settle at 931-245-0247 and on Twitter @settle_leaf.