SLIG and W Designed Developments Team Up For Senior Housing Development Venture
|LA-based Strategic Legacy Investment Group Inc and W Design Developments have formed a partnership called We Strategic Development Corporation to design, build, and maintain seniors housing facilities. The two entities initially created We Strategic LLC, for senior living operations, and hired veteran seniors housing and management executive, Elsy Ayache, as the Chief Operations Manager of their seniors housing development projects. We Strategic Development Corporation will design and build while We Strategic LLC will operate the seniors housing neighborhoods.
W Design Developments was founded by Weston Harmer, a second-generation developer for the past 23 years, who entered the seniors housing market in 2014. Weston teamed with SLIG in 2017 to form the joint venture partnership under the We Strategic brand. This was the initial step for the partners to create a platform that will design, build, own, and manage multiple portfolios of Continuing Care Retirement Communities (CCRCs) across the United States. These will be comprised of Independent Living (IL), Assisted Living (AL), Mild Cognitive Impairment (MCI), as well as Memory Care and Hospice facilities. Ms. Ayache, with more than 20 years of experience in the seniors housing field, will be leading the operations team.
We Strategic Development Corporation currently has three projects in its development pipeline. The first, called Diamond Living Estates, is in the city of Vista, CA and is expected to be operational as of the fourth quarter of 2019. The next project, located in the city of Encinitas, CA, is named La Costa Living Estates and is expected to be operational in the first quarter of 2021. The third and latest project, Carmel Pacific Living Estates, is located in Carmel Valley, CA. This project’s expected opening date has yet to be announced. The developments will offer private residential living within their own boutique neighborhoods. Each neighborhood is designed for approximately 100 residences and will offer high-end, high-tech amenities.
Commenting on the vision of the We Strategic brand, Weston Harmer, President of We Strategic Development Corporation, said, “Each generation creates its own demand and our senior generation is demanding change. Change in design, accommodations and service. Giving back to the generation that gave us everything is our commitment.”
Abraham Mehrian, Co-Founder of SLIG, a private placement investment firm primarily focused on real estate development, noted, “In this venture, we will seize on the opportunity now present in the seniors housing sector to create greatly improved seniors communities with new levels of service and integrity. It is our goal to develop properties that will never be thought of as merely places where people go to pass time but rather to enjoy the remainder of their lives.”