Pacific Retirement Services announces new projects, contracts
Pacific Retirement Services has entered into an array of new consulting and management contracts to go with expansion plans at several of its retirement communities.
"The senior market is strong and most of the country is coming out of the recession," said CEO Brian McLemore, whose firm oversees, develops, operates and manages 50 senior facilities, including Rogue Valley Manor.
PRS has 3,000 employees, including 100 in its corporate offices in Medford, making it the 14th-largest not-for-profit, multi-site senior living organization in the LeadingAge Ziegler 100 rankings.
Pacific Retirement has signed a new management contract with Moldaw Residences, in Palo Alto, Calif., owned by a previous client, Jewish Senior Living Group. PRS will perform on-site management and provide support in all areas of operation.
PRS has also ramped up its development operations, contracting with Holladay Park Plaza in Portland, a continuing-care retirement community. The organization is finishing construction on a six-story residential building, Holladay Place, adding 19 apartments, a lobby and additional parking. It's scheduled to open in September.
PRS is developing 23-story River Tower at its Trinity Terrace operation in Fort Worth, Texas. The project will add 100 apartments and healthcare beds to Trinity Terrace. Construction is set to begin later this year.
In Eugene, PRS is adding a new residential building called 29th Place at Cascade Manor. The project, with construction starting this summer, includes 30 apartments and a new dining area.
In Napa, Calif., PRS is planning a new residential building and an aquatic and wellness center at Meadow of the Napa Valley. The project adds 53 apartments and new dining facilities with a target construction date of spring 2015.
— Greg Stiles