OKLAHOMA CITY--(BUSINESS WIRE)--On August 17, 2015, WholeLife Companies, Inc. received from the Texas Bond Review Board, Certificates of Reservations for $212 million in tax-exempt bond financing to provide capital for the eligible costs of the acquisition, construction, installation and equipping of three WholeLife Communities in the State of Texas. The bonds will be issued by the New Hope Cultural Education Facilities Finance Corporation, New Hope Texas.
The three projects receiving approval are:
WholeLife Craig Ranch, LLC:
- Approximately 7 acres in the 6000 block of Alma Road, McKinney, TX,
- 176 units in 11, five-story buildings (ground floor is parking), plus clubhouse; 4 units per floor in each building
- Average of 1,800 sq. ft. per unit
- Amount approved $80 million
WholeLife Cibolo Canyons, LLC:
- 23909 Resort Parkway, San Antonio, TX, approximately 33 acres
- 156 units, single level, average of 1,800 sq. ft. per unit (4-plex), plus clubhouse
- Amount approved $62 million
WholeLife Frisco, LLC:
- Total development is approximately 122 acres; located southwest of the Witt Road and King Road intersection in Frisco, TX
- There will be 2 phases of building, 176 individual bungalows in phase 1, plus clubhouse; average of 1,800 sq.ft. per unit; single-level buildings
- Amount approved $70 million
New Hope Cultural Education Facilities Finance Corporation is the intrastate, multi-district issuer and is a public nonprofit corporation created by the Town of New Hope, Texas and exists as an instrumentality of the Town pursuant to the Cultural Education Facilities Finance Corporation Act. The Act grants the Issuer, among others, the powers, authority, and rights to issue revenue bonds for the purpose of aiding the development of senior housing within the State of Texas.
“We are thankful and profoundly honored to have received these approvals,” said John B. Lowery, Founder and CEO of the WholeLife Companies. “We look forward to working with New Hope as well as the Towns of McKinney and Frisco and Bexar County in seeing these exciting communities come to fruition.”
WholeLife Companies, Inc., headquartered in Oklahoma City, OK, develops, builds and manages lease-based communities that fulfill market preferences for healthy living, integrated fitness and wellness in a maintenance free environment, without requiring a large capital outlay for purchase. WholeLife communities are a decidedly upscale lease-based concept designed to support a better, smarter, healthier and more convenient lifestyle.
All three communities will have homes averaging 1,800 square feet and all will feature open floorplans, state-of-the-art appliance packages, granite counter-tops and the highest levels of interior finish and detailing. Each home will have excellent storage and will be energy efficient.
Each community is designed to be totally harmonious with the surrounding area; landscaping, sidewalks, and streetlights complete the look. Communities include an expansive and functional WholeLife Club as a focal point for neighborhood life; containing space for gatherings and events, a state-of-the-art fitness center, pool, game room and community services such as the concierge and the on-site WholeLife Cares Wellness Coordinator…all included in monthly rental fees.
“Our goal is to offer exemplary service and superior value to community residents by providing teams of highly skilled and motivated professionals, who truly care,” said Russell Criminger, Executive Vice President and Chief Marketing Officer of WholeLife Companies. “We understand the value of caring for the resident, the home and the community and we strive to identify and perform from our resident’s perspective and let that perspective guide us in all that we do.”
WholeLife’s bond counsel is Mark Malveaux of McCall, Parkhurst & Horton L.L.P. in Dallas, TX. The Company’s real estate counsel is Michael Rubenstein, Managing Partner, Rubenstein & Pitts, in Oklahoma City, OK.
ABOUT WHOLELIFE COMPANIES, INC.:
WholeLife Companies, Inc. is the developer of a trademarked concept in luxury rental living communities. WholeLife ground-breaking communities are designed for those who wish to integrate the concepts and practices of a healthy and enriching lifestyle into their daily lives.