projects

Current Projects

Meridian at Stuart

US Global Development Investments, LLC (“US Global” or the “Company”) is developing Meridian at Stuart (the “Property”), a 145,504-square-foot, 179-unit 203-bed assisted living and memory care community located forty minutes from West Palm Beach. The to-be-built Property will be a premier, Class A community with 133 units (143 beds) devoted to assisted living and 46 units (60 beds) to memory care nestled in the city of Stuart, Florida.

Stuart is a city in and county seat of Martin County, Florida, the United States. Located on Florida's Treasure Coast, Stuart is the largest of four incorporated municipalities in Martin County. Along with fishing and other water-intensive pleasures, Stuart is famed for its historic and pedestrian-friendly downtown. Stuart has a fine assortment of accommodations, dining options and recreational opportunities and is frequently cited as one of the best small towns to visit in the US, in large part because of Stuart's proximity to the St. Lucie River and Indian River Lagoon Regional Demographic.

The Meridian at Stuart area is a beautiful growing market. There are low barriers to entry in this market. People in Martin County are older than their United States counterparts. The median age for Martin County is 51 years, while the median age for the United States is 38 years. Our analysis shows that the assisted living and memory care markets are under-supplied. This is supported by our occupancy survey which indicates a weighted average occupancy in the assisted living market of 97% and in the memory care market of 100%. Given the Property location, condition, and design, Meridian at Stuart should be capable of reaching and maintaining a stabilized occupancy in the near term.

Meridian at Stuart is designed to maximize resident socialization and well-being and will offer varying levels of care, a full-time nurse and attending physician. There are a variety of common-space features and amenities within the facilities, including dining rooms, libraries, indoor theater, internet lounges, salons, sundries store, aerobics and physical therapy areas, laundry, gaming and recreational areas, as well as outdoor lounges, seating and gardening areas.The community will feature a robust activities schedule and amenities package, on-call transportation, and a full service kitchen with all-day dining, as well as on-site management and marketing services. The site is completing its entitlement process, and all zoning approvals are on the way. Construction drawings are being finalized and civil engineering documentation is complete.

San Francisco North Bay

Gulf Coastal Management, Inc. (“GCM”) is planning to develop, entitle and build Meridian at San Francisco North Bay on a property consisting of approximately 8 acres of land at Jefferson and Adams, Benicia California 94510, and to make construction and equipping improvements. GCM intends to complete construction development of the facility, which will include 46 memory care units and 133 assisted living units (“Meridian at San Francisco North Bay” or the “Project”). This Project is designed as a two-building campus, with one three story building dedicated to assisted living and the other two-story building dedicated to memory care.

The first floor will include resident rooms, dining rooms, three kitchens, several administrative offices, laundry facilities, a medication room, a multi-purpose room, staff room and quarters, a salon, restrooms, and a library. On the second floor, there will be additional resident units, dining rooms, kitchens, an office, laundry facilities, a medication room, a television room, restrooms, a retreat room, and a library. The resident rooms will have private bathrooms and interior improvements will consist of vinyl, tile, and carpet flooring; drywall-covered ceilings and walls; and ceiling-mounted fluorescent and incandescent light fixtures. The facility will be fully fire-sprinkled and feature adequate monitoring equipment. The resident rooms will be furnished by the occupants.

Meridian at San Francisco North Bay is located at the city of Benicia,which is a waterside city in Solano County, located in the North Bay region of the San Francisco Bay Area (approximately 25 miles east of San Francisco).

The Meridian at San Francisco North Bay area is a growing market for senior housing. Meridian at San Francisco North Bay has been thoughtfully designed to be more appealing to potential clients than its competitors. As the newest area facility, it will offer state-of-the-art amenities and a trained and caring staff. The Project will also offer an appealing continuum-of-care model, allowing residents to develop and maintain relationships with each other over longer periods than they could at other facilities in the area. Meridian at San Francisco North should be capable of reaching and maintaining a stabilized occupancy in the near term.

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Previous Projects

Belcanto

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Catalina

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Jersey Gardens Mall

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La Jolla Village Towers

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Morgan Hills

Located at Morgan Hill, California, it is consisted of 115 lot single family home project and a 70 unit condominium site.

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Rancho Cordova Assisted Living

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Serenade At Regency Park

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The Estates

Located at Vacaville, California, it is consisted of 215 single family detached houses.

The Landings

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The Sand Castle

Located at the sand of Redondo Beach, California. This is a 96-unit apartment complex converted into stock cooperatives. This was the first state savings and loan financed stock cooperatives in California. On the beach, all units were sold in 30 days. The converted condominium overcame many legal issues re California Coastal Commission & the city of Redondo Beach.

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