ALPHARETTA, Ga. — Holbrook CEO Al Holbrook has announced a $1 billion plan to expand the Alpharetta-based firm’s presence in the Southeast.
Holbrook develops, owns and manages distinctive active adult and assisted living communities including Holbrook Communities and Dogwood Forest.
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Holbrook Decatur, a 200-unit community, is set to open this month on Clairmont Drive near Emory, and Holbrook Acworth, which includes 207 residences and 10 cottages, is scheduled to open in October.
Plans are underway to open Holbrook Woodstock in the summer of 2020 with more than 300 homes and cottages.
The company is also searching for a site to open an upscale residential community in Nashville. Plans are already in the works for developments in Greenville and Charleston, South Carolina.
The market for senior living housing is trending upward as baby boomers downsize.
The U.S. retirement communities industry will realize $72 billion in revenue this year, according to market research firm IBIS World. The industry employs some 1 million workers in close to 50,000 businesses.
Earlier this year, the City of Alpharetta approved Village Park at Wills Road assisted living facility that will occupy a parcel at 1650 S. Main. Plans call for 130 residences on 7 acres, with building heights not to exceed 45 feet. It will include outdoor amenities and landscaping. Residential units, consisting of independent living units, assisted care units and memory care units in both detached and attached buildings.
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Alpharetta has recently seen an increase in interest for assisted living. The city currently has 10 assisted living facilities in operation, and another 425 assisted living rooms are under construction.
There are 21 parcels of land in the city where assisted living is permitted by right. These parcels are not exclusive to assisted living, however, and could compete with interests providing offices and many other low-impact commercial and retail uses.