Luxury home builder Gregory “Skip” Gozzo and investor Dr. George Peck are teaming up to build a Courtyard Gardens assisted living facility in Boynton Beach.
Property records show the partnership scored about $11.5 million in construction financing and broke ground on an 80-unit facility at 3005 South Congress Avenue. Peck owns a Courtyard Gardens assisted living facility in Jupiter, while Gozzo, of Gozzo Estate Homes, is a resort and home builder.
Branch Banking & Trust Co. was the lender. Records show Courtyard Gardens of Boynton Beach LLC, led by Gozzo and Peck, paid $2.55 million for the site in November.
Once complete, the Courtyard Gardens of Boynton Beach, designed by Boca Raton-based AW Architects, will feature 150 beds and will specialize in memory care. Design plans show the development will total more than 50,000 square feet.
The nearly 4.5-acre property sits on the northwest corner of Congress Avenue and Charter Drive North, just east of the Barrier Free Park, a city-owned park and tennis center.
The partnership is one of many delving into senior and assisted living real estate amid increasing demand from aging baby boomers.
Retirement community operator and developer the Palace Group is building a luxury senior living complex in Weston. Health care real estate investment trust Welltower also recently paid $130 million for a senior living community in Boca Raton.