FOR IMMEDIATE RELEASE
Heartis Village Brookfield near Milwaukee was the firm’s third new senior living community in a row to win the magazine’s prestigious national award for excellence
BROOKFIELD, Wis. and DALLAS, Dec. 19, 2019 – Healthcare Real Insights™ (HREI) magazine has named the Caddis®-developed Heartis® Village Brookfield senior living community a winner of the 2019 HREI Insights Awards™. The development in Brookfield, a suburb of Milwaukee, won the prestigious national award for the Best New Post-Acute or Senior Living Facility.
This is the third consecutive year that Caddis, a national healthcare real estate firm headquartered in Dallas, has won the HREI Insights Award senior living category for its Heartis senior residences. This is unprecedented in the seven years of the HREI Awards. Last year, Caddis won the award for Heartis Village North Shore, also in a suburb near Milwaukee; and in 2017, the firm won for Heartis Clear Lake near Houston, Texas.
The annual awards, the first totally dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and executive leadership, are presented by HREI, a national digital and print magazine that covers HRE development, financing and investment. The awards were presented in nine different categories during the GlobeSt Healthcare Conference in Scottsdale, Ariz., Dec. 4.
Jason L. Signor, Caddis CEO and Partner, notes, “We faced many challenges developing Heartis Village Brookfield, but our team successfully took those challenges head on to develop a beautiful senior residence that is meeting the need for more senior living options in the community.”
He added, “It is very gratifying that year after year Caddis continues to win the sought-after HREI awards for our Heartis senior living communities, as well as medical office buildings and other healthcare properties. I congratulate our entire development team for their stellar award-winning work.”
Mr. Signor said that Caddis decided to develop a senior community in Brookfield after it identified a shortage of senior housing there. However, the firm faced a number of challenges. City officials were wary of the project because the public opposed multi-family housing and many didn’t understand the difference between multi-family and senior housing. Also, city restrictions on new development in some areas made it difficult to find a viable site.
Caddis initially investigated or made offers on six sites without success until finding the current site. To address the project’s many challenges, Caddis met with city staff to educate them on senior living and how it differs from multi-family; demonstrated a need for more senior living options in the community based on the firm’s research; explained how senior living improves residents’ quality of life; and learned about likely public concerns on zoning and the entitlement process. At the end of the meeting, the city director supported the project and also referred Caddis to a local landowner who owned a highly desirable site that was not on the market.
The seller of the site had tried unsuccessfully to entitle his land for multi-family use, which the city opposed, and was reluctant to give up on his preferred use. After a long deliberation and encouragement from the city, the seller agreed on a purchase price and Caddis secured the site under contract, with closing contingent upon obtaining entitlements. The entitlement process lasted several months and included community hearings and multiple meetings with city staff and departments.
Despite the city telling Caddis that the project would be an uphill battle, it passed the approval process with full support of the city and no public opposition. The new 98,660 square foot senior community, which was completed this summer, features 104 spacious assisted living and memory care apartments and a wide variety of first-class amenities, including large, secured courtyards; beautifully landscaped grounds with gardens and walking paths; activity rooms; libraries; media room; and a fitness center.
Heartis Village Brookfield also is in an ideal location that allows seniors to stay close to their family and friends while enjoying proximity to major transportation routes and nearby amenities and services, including the Milwaukee River, retail, restaurants, hospitals and open spaces.
In addition to benefitting the residents, the project is also benefiting the local community. The city requires residential developers to dedicate a portion of their land for a public park but exempts senior housing. So even though Caddis wasn’t required to do so, it donated a 2.9-acre parcel of land from the original 9.7-acre site to the city to create a new public park. Caddis also agreed to make significant aesthetic changes to the building exterior design, based on suggestions from city staff.
Caddis-developed projects and executives have been named Finalists a total of 16 times and Winners six times in the seven years of the highly competitive HREI Insights Awards.
Caddis® is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired nearly five million square feet of medical assets valued in excess of $1 billion. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 5th largest healthcare development company in the United States. For more information about Caddis, please visit www.Caddis.com.
Caddis®, a national healthcare real estate firm based in Dallas, launched the Heartis® senior living brand in early 2013 to reflect its mission of helping seniors live life to the fullest. Caddis is currently developing or has opened Heartis communities in Atlanta, Suwanee and Fayetteville, Ga.; Orland Park and Peoria, Ill.; Brookfield and North Shore, Wis., near Milwaukee; Yardley, Pa. near Philadelphia; and Venice, Fla., as well as numerous cities across Texas. Heartis communities provide high-quality, high-value services, programming and amenities; on-site personalized support; and inviting, caring home-like environments. For more information, please visit www.Heartis.com.
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News Media Contact: Stacey J. Robinson, Caddis, 469-547-5421, Stacey@caddis.com
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