After snagging almost $333 million in new financing, senior living operator Fleet Landing is developing a second community to meet current high demand from prospective residents.
Fleet Landing is a luxury life plan community (LPC). The Jacksonville, Florida-based senior living operator recently secured about $332,710,000 in financing underwritten by Ziegler Investment Bank and sourced from the Florida Local Government Finance Commission.
Fleet Landing is using that financing to build a new LPC community in Jacksonville, Florida, Fleet Landing at Nocatee, that includes 279 units and “modern amenities” such as a wellness and fitness center, a year-round heated pool, game rooms, pickleball courts and art and creative studios, according to a press release.
The new location comes after Fleet Landing’s original community garnered a waiting list of about 700 families, according to CEO Joshua Ashby.
“The second location is part of our strategy to grow our capacity to serve over the coming decade,” Ashby told Senior Housing News. “Our goal is to triple our capacity to serve seniors in Northeast Florida. Campus two is under construction, and we’re actively looking for locations for campuses three and four.”
In 2019, Fleet Landing acquired 35 acres of land in a master planned development called Nocatee in St. Johns County, which Ashby said was “one of the fastest growing master planned communities in the country at the time.” The master planned development is located near Mickler’s Landing in Ponte Vedra Beach and offers trails, fitness centers, a private community lake and easy access to airports, sporting events and cultural arts venues in Jacksonville and St. Augustine.
Fleet Landing’s forthcoming community hit its pre-sale goal within months, and the operator added 21 additional units to the design as a result.
Ashby attributed the new community’s popularity to the perceived quality of the operator’s original location, which offers seven distinct dining venues with “the very best” chefs and cooks from the region, along with creating a feeling of being the equivalent of a “top-notch country club.” The company even launched its own food truck called The Anchor in 2021.
Fleet Landing is in its Nocatee campus planning wellness programming and interior spaces ranging from unique dining venues to a performing arts center that is set to open to the public.
Units for residents include apartments, cottages and two-floor homes with private elevators.
Dining spaces include an upscale rooftop eatery called Sota restaurant that carries views of the nearby area. Other eating and drinking venues include an American-style restaurant, a poolside restaurant that slings burgers and pizzas and a coffeeshop and wine bar with coffee served in the morning, paninis in the afternoon and wine in the evening.
“We’ve also been very intentional about our dining operations on that new campus,” Ashby told Senior Housing News.
As designed, Fleet Landing at Nocatee will be the tallest building in the master plan community at 100 feet tall. While the community won’t have ocean views, it will allow residents to have “a wonderful perspective of a rising and setting sun at different times of day,” Ashby said.
Construction on the community is already underway. If all goes according to plan, the community’s first residents will move in during the summer of 2027.
Fleet Landing also is planning a second phase of construction that will add 110 units and a new spa offering full service spa amenities and services, such as massages, steam rooms, saunas and open spaces for vendors to sell personalized wellness products. Construction is slated to begin in 2030.
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