LRT Company Unveils $17 Million Senior Living Investment
Exciting New Senior Living Opportunity by LRT Company
LRT Company, known for its innovative development strategies, has introduced a remarkable new project, the LRT Hardeeville Senior Living DST. This offering aims to raise $17 million in equity funds from accredited investors, highlighting the company's commitment to providing quality senior housing solutions.
Details of the LRT Hardeeville Senior Living DST
The LRT Hardeeville Senior Living DST will encompass 8.17 acres of undeveloped land that is leased on a triple net basis for an impressive 50 years. The project envisions the construction of a multi-level assisted living and memory care community which will feature 154 units, specifically designed and developed by LRT Development.
Location and Strategic Importance
This development is strategically situated within a growing community, making it a prime location for addressing the needs of the increasing senior population. Founder Lawrence LaBonte noted the substantial growth in population since recent census data, particularly due to relocating retirees. This rising demand signifies that Hardeeville is poised for thriving senior living developments.
Island Gateway: A Broader Vision
The Hardeeville project is a key part of the larger Island Gateway community, which spans 82.6 acres. This expansive development aims to incorporate a total of 600 multifamily residences, creating a care-continuum senior living campus, alongside 100,000 square feet dedicated to retail and self-storage facilities. Currently, LRT Company is managing approximately $150 million in various projects across the southeastern and northeastern regions of the country.
Community Impact and Future Prospects
Hilton Head Island and the surrounding areas continue to see an influx of seasonal visitors, bolstering the local economy. This area boasts a significant tourism figure, enhancing the overall quality of life and local business opportunities. LRT Company's development plan not only aims to improve housing for seniors but also enhances the community at large.
About LRT Company
Founded by Lawrence LaBonte in 2019, LRT Company specializes in ground-up development projects focusing on multifamily and senior living communities. With extensive industry experience, LaBonte has been actively involved in real estate transactions valued at over $600 million, shaping his strong reputation in the field. LRT’s leadership brings forth a wealth of knowledge and industry relationships, crucial for the firm’s ongoing success.
Frequently Asked Questions
What is the purpose of the LRT Hardeeville Senior Living DST?
The LRT Hardeeville Senior Living DST aims to raise funds to develop quality senior housing to meet increasing demands from the senior population.
How many units will the community provide?
The community will feature 154 units specifically designed for assisted living and memory care.
What is the size of the land for the development?
The project will utilize 8.17 acres of undeveloped land on a lease for 50 years.
Who founded LRT Company?
LRT Company was founded by Lawrence LaBonte, who has over 35 years of experience in commercial real estate.
What other developments is LRT Company involved in?
LRT Company is currently managing various projects valued at about $150 million in the southeastern and northeastern U.S.
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