WhiteStone in Greensboro, North Carolina, announces $75M project
October 06, 2020 20:45 ET | Source: LCS Development
Des Moines, Oct. 06, 2020 (GLOBE NEWSWIRE) — LCS Development, An LCS Company, will begin construction on a $75 million major expansion at WhiteStone: A Masonic and Eastern Star Community in Greensboro, North Carolina. The project includes the addition of 67 independent living units, a building with 36 private suites for assisted living/memory care, and an extensive renovation of the existing skilled nursing facility.
“We’re looking forward to enhancing our services with this expansion,” says Mark Lewis, executive director of WhiteStone. “The addition of the assisted living suites will complete the continuum of care for residents and allow our community to serve more seniors.”
The well-established 100-year-old community is located on a 43-acre campus and is managed by Life Care Services, An LCS Company.
“Our relationship with LCS Development has been instrumental in bringing this project forward,” says Gene Jernigan, chair of the WhiteStone Board of Directors. “With their leadership and design expertise we are able to expand our community and bring additional services to the residents we serve.”
The bond financing for the expansion, underwritten by Cain Brothers, a division of KeyBanc Capital Markets, closed on September 9. Construction began September 22.
“Our relationship with WhiteStone began about 10 years ago when the community undertook their last expansion,” says Ted MacBeth, senior vice president and director of life plan development, LCS Development. “More recently, an updated master plan was drafted showing how the remainder of the community will be renovated and developed.” MacBeth says, “The exercise helped the community set their sights on the future and the current expansion is the result of the master planning process. It’s exciting to see how the vision of these leaders is being put into action and benefitting residents at the community.”
Todd Shaw, director of development services at LCS Development, will serve as project manager for the expansion. “We recognize WhiteStone’s unique history and this project will further distinguish the senior living community and the services it provides to residents.”
The project scope calls for LCS Development to coordinate planning, lead development, and provide oversight of design and construction services. In addition to LCS Development and Cain, the project team includes SFCS Architects, Frank L. Blum Construction Company as general contractor, and Stimmel Associates, PA, serves as civil engineer/land planner.
About LCS Development
LCS Development, An LCS Company, is a full-service third-party developer of Life Plan and rental communities solely dedicated to designing and developing senior living communities since 1971. It has experience in helping owners and sponsors develop highly complex projects in markets throughout the United States. Utilizing four decades of in-house expertise and single-source precision ranging from master planning and design to construction management, sales, finance and more, LCS Development has helped develop more than $2.6 billion worth of projects in the last 10 years. At LCS Development, Experience Is Everything. For more information, visit lcsdevelopmentLCS.com.
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