The last large, undeveloped parcel in Scripps Ranch has been sold for construction of an assisted-living community totaling 450 units.
Colliers International announced Thursday the sale of the 53-acre parcel for $18.5 million to Carlsbad-based Continuing Life Communities, which plans to develop The Glen at Scripps Ranch at 10495 and 10410 Pomerado Road.
The seller was the Alliant Educational Foundation, a nonprofit associated with nearby Alliant International University.
“This is the last large undeveloped site in Scripps Ranch, which provides a spectacular location to develop a first-class community that is greatly needed for the baby boomer population nearing and already in retirement,” said David Santistevan, executive vice president at Colliers International San Diego Region.
Plans for The Glen at Scripps Ranch include apartment and single-family residences with attached garages as well as 60 skilled nursing beds. The campus will have a fitness center and spa, tennis courts, short-game golf course, walking and cycling trails and a movie theater.
Continuing Life Communities plans to break ground on the project this month.