Waterman Village first opened its senior living campus in 1989 in Mount Dora, FL, located in Lake County just northwest of Orlando. Through its decades of service, Waterman Village has expanded several times to keep up with demand — and the community has now obtained financing to start yet another expansion.
Waterman Village has secured $8.255 million via bond anticipation notes (BANs), with $6.005 million in Series 2018A and $2.25 million in Series 2018B. Proceeds from the BANs financing will go toward supporting pre-construction development costs associated with Lakeside at Waterman Village, an expansion planned for 37 acres adjacent to the existing Waterman Village campus.
The Lakeside expansion will include:
- 138 independent living units
- 24 memory support units
- Common areas
The current development timeline calls for a summer 2020 start of construction and a fall 2021 completion and opening. Greystone is serving as development consultant on this project.
See renderings and site plans for the expansion in the gallery below.