HHHunt acquires senior living community in Henrico County
HHHunt, a regional real estate developer, has acquired a senior living community in western Henrico County for $11.5 million.
The former New Dawn Memory Care facility will be the company’s third community in the Richmond area and seventh in Virginia. Its new name will be Spring Arbor Cottage of Richmond.
HHHunt plans to make $700,000 in improvements to the facility and open it this winter.
The 28,600-square-foot facility will serve 48 residents in three cottages. Each cottage will have 16 residents and be designed exclusively for residents with Alzheimer's and other forms of memory loss.
Each cottage features a living room anchored by a stone hearth, kitchen, dining area and other areas for activities and events.
“We believe this ‘small-house’ model enables us to offer a totally different service that’s unique to the industry and meets a growing demand for innovations in the care of those with Alzheimer’s and memory care needs” Rich Williams, senior vice president of HHHunt Senior Living, said in a statement. “We have been researching this type of new memory care model for years, so the ability to purchase this existing community, already designed and built for memory care, in a great location, will be a wonderful complement to our current senior living portfolio.”
Spring Arbor Cottage is located approximately two miles from HHHunt’s Spring Arbor of Richmond community. Spring Arbor of Salisbury, located in Midlothian, is developing a 48,275-square-foot, freestanding memory-care community, which is scheduled to open by the end of the year.
HHHunt opened its first Spring Arbor senior-living community in North Carolina in 1992. It now owns and manages 22 communities in Virginia, North Carolina and Maryland, with more in various stages of development.