Fort Worth, Texas – Fort Worth’s senior community, particularly those residing at Ridgmar Place, is about to witness a significant transformation. A substantial makeover with a budget of $5 million has been confirmed for Ridgmar Place, as per a filing with the Texas Department of Licensing and Regulation. This renovation is aimed at rejuvenating the exterior of the living complex, with an expected completion date by the end of March.
The project, which commenced on December 29 last year, involves replacing weathered stucco, barriers, and windows across the 230,698 square feet of Ridgmar Place, located at 2151 Green Oaks Rd. Goleski Architectural Design of Carrollton is leading the design aspect of this project. Ridgmar Place, managed by Pegasus Senior Living, offers a range of living options including independent and assisted living. The establishment is known for its comprehensive amenities, including fitness programs and day trips, catering to a full lifestyle experience for its residents. The community boasts ten different floor plans and provides daily meals to its occupants.
The focus on senior living is not just limited to Ridgmar Place. The entire Fort Worth area, along with nearby Saginaw, is becoming a hub for senior living development. In Saginaw, Bonner Carrington, an Austin-based developer, is gearing up for a $65 million project in senior living. This interest in developing active adult communities is backed by a report from Grand View Research, as highlighted by The Dallas Express. Such communities are increasingly seen as lucrative investments.
The senior living sector is experiencing significant growth, with its value estimated at $588 billion in 2022. Projections indicate a compounding annual growth rate of 4% leading up to 2030. This growth is in line with demographic trends reported by the U.S. Census Bureau, which show that by 2030, the majority of Baby Boomers will have turned 65, making up 21% of the nation’s population.
