Carlsbad-based Continuing Life Communities has acquired a 53-acre land parcel in San Diego’s Scripps Ranch neighborhood for $18.5 million, with plans to develop a new continuing care retirement community.
According to brokerage firm Colliers International Group Inc., which represented the buyer and seller Alliant Educational Foundation, the new community will be developed on land at 10495 and 10410 Pomerado Road. It will be called The Glen at Scripps Ranch.
The buyer was recorded as The Glen at Scripps Ranch LLC, an affiliate of Continuing Life Communities. The transaction was brokered by Colliers’ David Santistevan and Gunder Creager.
Brokers said this is the last large undeveloped site in Scripps Ranch. The buyer plans a community that will include 450 assisted-living units comprised of apartment and single-family residences with attached garages, as well as 60 skilled-nursing beds.
The campus will include a fitness center and spa, tennis courts, short-game golf course, walking and cycling trails and a movie theater, among other amenities. Continuing Life Communities plans to break ground by the end of August.