June 16, 2014
-- Amish Gupta (AG) Ventures, LLC, a Dallas-based development company, announced today plans to develop a new senior living facility located on the northeast corner of the service road of Texas State Highway 121 and Creek Valley Boulevard in Carrollton, Texas. The approximately 120,000-square-
foot facility sits on nearly 4.5 acres and is planned to consist of two separate wings totaling 135 units. Construction is scheduled to begin late 2014.
“The land was originally purchased in 2006 before the Texas State Highway 121 construction was completed and was originally zoned for retail. Over time, we realized that retail would not be the best use, and after extensive market research we found an unmet demand for senior living facilities,”
said Amish Gupta, president and founder of AG Ventures. “The location on the service road gives us great visibility and is easily accessible from the highway, which we believe will extend our demand radius further than normal, encompassing the neighboring Carrollton, Lewisville, Plano and Frisco communities. We are excited to break ground in late 2014.”
The look and feel of the facility will be residential in nature and designed to blend with the single-family community surrounding it. Moreover, the entry feature/signage will welcome residents and visitors to the neighborhood to maintain the natural community feel of the area. The landscaping will enhance the curb appeal while providing the appropriate sound/visual buffers where necessary.
Plans for the first wing of the senior housing facility will be three stories and will include 100 units with a mix of assisted living space and potentially a number of independent living units. The second wing is designed to be dedicated to memory care with 35 units.
Pre-leasing is anticipated to begin in the fall of 2015 with move-ins beginning in early spring of 2016.About Amish Gupta Ventures, LLC
Amish Gupta Ventures, LLC was established in 2014 by Amish Gupta. Gupta has developed a deep understanding of real estate finance and investing and previously worked as an investment professional for the private equity firm, The Carlyle Group. While there his duties included the acquisition and asset management of $500 million in real estate assets, and he also managed a JV partnership of class A multi-family properties in the southeastern regions with 5,000+ units. Gupta also worked extensively on all other major asset types including office, retail, and hospitality, as well as ground-up development. Additionally, Gupta is a board member of the Ashford Hospitality Trust .