A residential development for seniors planned to one day total 1,400 units is about to open to its first residents.
Erickson Senior Living is polishing off phase one of construction on its planned $500 million, 94-acre Avery Point retirement community at 12000 Avery Point Way in eastern Goochland County near Short Pump.
Phase one consists of 216 independent living apartments in one- and two-bedroom configurations. Construction wrapped up in recent weeks on one residential building and a clubhouse. Still on tap for the first phase of construction is another independent living building to be completed in February, according to Avery Point Executive Director Todd DeLaney.
The first residents are expected to move into Avery Point next week.
Phase two of construction, which is underway and slated to be completed next year, includes another independent living building of 107 units.
The company said in a news release that it has filled up the residential buildings in the phase-one segment and that apartments to be built in the next construction phase are “filling up fast.”
The company plans for the development to feature 1,160 independent living apartments, with continuing care units rounding out the planned total of 1,400 units alongside various amenities such as a theater, restaurants and a fitness center on its campus.
There isn’t a specific timeline for the completion of the development. Work on the project started in 2019.
“The construction timeline will be based on demand in the senior living marketplace, which is strong in the Richmond area,” he said in an email last week.
Moseley Architects is designing the project. The general contractor is Brinkmann Constructors.
The anticipated cost of the development as envisioned has increased from $300 million in November 2019 to the current estimate of $500 million, though the scale of the development hasn’t changed.
“Both of these numbers are estimates and subject to revision based on a number of factors, including changes in design as well as construction labor and material costs, which have increased since our original estimate,” DeLaney said. The project was originally estimated at $200 million.
Avery Point currently has 85 employees, DeLaney said. It would have 500 employees if built out as envisioned.
Erickson is both the developer and manager of Avery Point. The Maryland-based firm operates retirement communities in 11 states. It has three in Virginia, with the other two (Ashby Ponds and Greenspring) in Northern Virginia. The company started construction this summer on a fourth Virginia development, Woodleigh Chase, in Fairfax.
Erickson held a ribbon-cutting ceremony for the Avery Point development earlier this month.
Avery Point’s monthly service package, which includes utilities, meal plans, home repairs and other services, range from $1,970 for a one-bedroom, one-and-a-half bath unit with patio/balcony up to $3,746 for a two-bed, two-bath corner unit with morning room and patio/balcony, per its website.