Senior housing operator Belmont Village and apartment developer Greystar announced Monday the groundbreaking for a 17-story tower on Nobel Drive in the Golden Triangle area.
Belmont Village Senior Living of La Jolla at 3880 Nobel Drive will be the Houston-based company’s 32nd project nationally and third in San Diego County.
“A mutual colleague brought us together — Greystar had sourced a terrific location with an entitlement history that made it a perfect opportunity for licensed seniors housing,” said Patricia Will, founder and CEO of Belmont Village. “We saw the potential of the site, and of bringing our mutual expertise together to create something really unique in independent and assisted living.”
Belmont Village and Greystar purchased the land together in March and closed on a construction loan last month. “This is really a situation where two strong developers have joined forces and 1 plus 1 equals 3,” said Jerry Brand, South Carolina-based Greystar’s executive director for the western United States, adding that the partners are already at work on a second development in the San Diego area.
The high-rise will have 180 units divided among independent-living, assisted-living and memory-care sections. The building will feature a fitness center, full-service salon and spa, private screening room, arts and crafts studio, bistro for casual dining and full-service dining room, as well as personal wine storage.
The architect for the 209,000-square-foot building is Joseph Wong Design Associates and the contractor is Suffolk Construction, both based in San Diego.
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