Discovery Senior Living developing second Discovery Village

BUYER: Discovery Village at Naples LLC (principals: Thomas Harrison, Richard Hutchinson, Jeff Henning and Todd Carlson), Bonita Springs
SELLER: Sierra Meadows LLC
PROPERTY: 8417 Sierra Meadows Blvd., Naples
PRICE: $1.79 million
PREVIOUS PRICE: $3.4 million, January 2011
ATTORNEY ON DEED: John M. Morgan, Fort Myers

PLANS, DESCRIPTION: An affiliate of Discovery Senior Living purchased a 6.9-acre lot south of Rattlesnake Hammock Road for $1.79 million.

The price equated to $260,000 per acre.

The Bonita Springs-based assisted-living company plans to develop its second senior living rental facility, Discovery Village at Naples, on the property. The project calls for a three-story wing of 30 apartment units for independent living, a two- and three-story wing of 60 apartments for assisted-living and a one-story wing of 30 memory care suites. The project also calls for a clubhouse building, indoor therapy pool, ice cream parlor, wellness center, movie theater and two dining venues.

Johnston, Iowa-based Henning Construction Co. is the general contractor for the project, and Bo Russ of Architectural Concepts Inc. of Largo designed it.

Groundwork is scheduled to start soon with vertical work beginning in September. The 120,000-square-foot project is expected to take a year to build.

“We saw it as the window to Marco Island, which has no senior-living facilites,” says Thomas Harrison, Discovery Senior Living's CEO. “It's also across from Physician's Regional Medical Center. That area of southeast Naples is pretty well underserved [for senior housing].”

Jerry Messonnier, Bob Johnston and Derek Bornhorst of Lee & Associates' Naples-Fort Myers office handled the transaction.