3586 Airline Hwy
Hollister, CA 95023
Land For Sale · 7.00 AC

Approved entitlement assisted living housing, Ridgemark Heritage, a state of an art full service senior living that offers memory care, assisted living, and independent living. It is in Hollister California next to a country club with over 1000 houses and 18-hole golf course. It sits on 7 acres with 136,000 sqft of living (heated) space. It offers 155 units with 185 beds with the following configurations: Number of units Configurations Number of Floor Plans Square footage 125 1 bedroom 4 Up to 413 30 2 bedrooms 3 Up to 564 Within 2 years, this property will be valued at $48M - $50M with estimated cost of $36M: acquiring, developing and building the property (25% equity). Entitlement Over the past 10 years, the property has undergone entitlement. Entitlement required: Zone change Traffic study Geological study Site planning Archeology study Biological study Architectural design Utility (water, sewer, electricity) analysis. Sewer and water access are right at the property. Application submittal 3 rounds of reviews and enhancements to the plan by county and all agencies, i.e. fire department. Neighborhood hearing Etc. The grading permit was issued in Dec 2019. It is projected that the entire project can be completed within 2 years. Marketing can start 15-18 months into the project.