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JLL, as exclusive agent, is pleased to present a Seniors Housing development opportunity in West Covina, California. This opportunity can be structured in a variety of ways, including:
• Outright purchase of the site and entitlements
• Formation of a development JV with the land owner
• Turnkey development of the proposed seniors housing project by the land
The site offers exceptional visibility along the Interstate 10 Freeway, a short walk from Plaza West Covina. The land is fully-entitled for a senior housing facility, to include up to 92 assisted living and memory carte units (and 107 beds).
The City of West Covina, and the surrounding East San Gabriel Valley, have favorable community demographics and a limited supply of existing seniors housing. There is significant market demand for modern facilities with amenities
suitable for vibrant seniors. This rare opportunity to acquire a fully-entitled property affords the buyer the ability to quickly be shovel-ready following the design and permitting process.
• Rare, entitled opportunity: The seller has worked with the city for four years to earn the final entitlements received in August 2019.
• Located in the Los Angeles MSA – the second largest MSA in the nation
• Proximity to major thoroughfares and economic drivers
• Significant barriers to entry will limit additional competition
• Forecasted demand through 2021 within a 5-mile radius is expected to be 709 beds in excess of the current supply pipeline (2 communities, 207 beds)