close
close

Erickson Senior Living buys Boynton Beach farmland for $54 million – Commercial Observer

Erickson Senior Living paid $53.5 million for farmland in Boynton Beach, Florida, where it plans to build a housing project, property records show.

The site covers 94 acres and is located just west of the Florida Turnpike and less than two miles from US Highway 441 at 8344 Boynton Beach Boulevard. The campground is located about 18 miles northwest of downtown Boca Raton.

ALSO SEE: Blue Suede Hospitality is buying another hotel in Miami Beach

The Baltimore-based buyer has had the land under contract since 2022, when it submitted a proposal to build a 1,262-unit senior living or nursing home across six buildings three or four stories tall, in addition to 1,097 parking spaces. Amenities include a swimming pool, fitness center, on-site medical center, classrooms and art studios.

In 2022, the sellers, trusts were bound to William Mazzoni And Howard W. Smith, bought the site for $2.6 million, according to property records. Representatives of the trusts and Erickson Senior Living could not be reached.

The sale on the outer edges of Boynton Beach is the latest agricultural purchase in Palm Beach County.

In fact, just west of Erickson’s new facility, located in Arizona BB Life purchased a 40-acre site for $24 million. It is approved for 314 residential units. Earlier this month, American Sugar Company purchased 1,811.3 acres of farmland on the west side of the county for $27 million.

The latest purchase also comes as Erickson Senior Living undergoes a $3 billion national expansion that began in 2021. McKnight’s long-term care news reported. In Florida, the company currently operates three properties, including a 26-acre complex in Palm Beach Gardens with 392 apartments.

Julia Ecikson can be reached at [email protected].

Back To Top