Item 6 - SPIN Meeting Report
SPIN MEETING REPORT
SPIN Item Number: SPIN2024-01
City Case Number: ZA24-0051
Project Name: Forefront Senior Living
SPIN Neighborhood: 11
Meeting Date: January 9, 2024
Meeting Location: 1400 Main Street, Southlake, TX
City Council Chambers
Total Attendance: 14
Hosts: Douglas Lies
Applicant Presenting: Russell Jones
City Staff Present: Madeline Prater, Business Manager
Town Hall Forums can be viewed in their entirety by visiting http://www.cityofsouthlake.com and clicking on “I Want to” and “View”
“Video on Demand” – forums are listed under SPIN by meeting date.
FORUM SUMMARY:
Property Situation: 300 – 684 Davis Blvd.
Development Details:
• 501c3 Nonprofit faith-based organization
• Multiple levels of Living and Care
o Independent Living (IL)
o Assisted Living (AL)
o Memory Support (MS)
• Continuum of Care
o Satisfies residents’ life-long needs, enabling them to age in place
o Provides residents with guaranteed access to health care (peace of mind)
• Location Address: 300-684 Davis Boulevard
• Existing Uses: Single Family and Vacant
• Size
o Gross Acreage: 20.97 acres
o Net Acreage: 14 acres (approximate)
• Current Zoning: RE5 and SF1-A
• Concept Plan/Test Unit Counts and Density
o Independent Living Units:133
o Free-Standing Independent Living Homes: 20
o Assisted Living Units: 32
o Memory Support Units: 24
o Total Unit Count: 209
o Potential Density: 9.9 Units Per Acre
• Average Independent Living Unit Size: 1,300 square feet
• Free-Standing Home Size Range: 1,800-2,200 square feet
• Project Size: 280,000+ square feet, not including underground parking and free-
standing homes
• Building Heights: 1-3 stories
Presentation:
Online Comment, Questions, and Concerns Forms:
Question: Will these be a for-purchase property or lease property?
Answer: This is a continuing care retirement community that will have a one-time up-front
entrance fee. The entrance fee is refundable, about 90% refundability. A question might be how
we are financing this community – and how we raise funds through a municipal bond market.
This is financed over a long period of time, 30-year bonds. These refundable entry fees help pay
down the debt to keep the service fees lower. This is not a rental.
Question: The cottages – if you follow the Watermere model – you buy the cottage.
Hypothetically, do I buy the cottage then go to assisted living? Or do I rent the cottage?
Answer: There are few models where the homeowners actually own the real estate with the
independent living – it’s usually with the cottage model. In our model you pay a refundable
entrance fee and there is no actual ownership. The not-for-profit 501c3 owns the entire
community. We assist with the resale of the unit once the individual needs a step-up in care.
This removes the burden from the family having to resale the unit. Does the person own the
cottage or the villa? The answer is no; it is owned by the not-for-profit. The entry fee gives you
the right to live in the unit until you move to a higher level of care.
Comment: Based on the topography of the land, it appears that we will see a sizeable
development in height.
Question: What’s the caliber of people that you will be entertaining with a 501c3? Who is your
target market?
Answer: Age of 75 with an annual income of $75,000. The average entry fee (in Plano) is
around $500,000. The individuals who move into a community like this would typically have
assets of 2M, and an income of over $75,000 a year.
Question: Inaudible
Answer: When people move in, sometimes they decide they do want to move out and go to
another senior living community. On average, you typically see 10-15% of your independent
living units turnover each year. Probably 95% of those individuals are moving to a higher level of
care or have passed away on campus. What you see is a much longer length of stay with not
much turnover.
Comment: We think this development would be a perfect fit for the Southlake community.
Question: Timing – If you were to be successful and move forward with this, how much time
are we looking for this development to be built?
Answer: Once we know the city and the community is receptive to this concept, we will start
modeling and do engineering work. Once we get permits, we can open a sales office – probably
in the span of a year to a year and a half. After that, we can start construction which takes about
two years. So total, we’re looking at a three-and-a-half-year process.
Comment: This will be nowhere near an apartment complex.
SPIN Meeting Reports are general observations of SPIN Meetings by City staff and SPIN Representatives. The report is neither
verbatim nor official meeting minutes; rather it serves to inform elected and appointed officials, City staff, and the public of the issues
and questions raised by residents and the general responses made. Responses as summarized in this report should not be taken as
guarantees by the applicant. Interested parties are strongly encouraged to follow the case through the Planning and Zoning
Commission and final action by City Council.
Southlake Connect Results for the January 9, 2024 SPIN Town Hall Forum