Harrison Street, a real estate investment firm based in Chicago, and Oppidan, a property development firm headquartered in Minneapolis.
The project will be managed by Watermark Retirement Communities based in Tucson.
Harrison has become a significant investor in San Diego County property.
The company in April bought two office buildings in Torrey Pines and one in Sorrento Valley for $31.3 million with plans to convert them to life science and the company said at the time that it was looking for additional investments in San Diego County.
A year earlier, Harrison acquired two Sorrento Mesa life science buildings in Bioscience Properties for an undisclosed price.
Oppidan and Watermark previously developed The Watermark at Napa Valley in Napa, a senior living community.
Watermark by itself lists senior living projects in several California cities, including Dana Point and Riverside.
The Hacienda Mission San Luis Rey is designed to fit in with the Mission, with an exterior architecture and color palette “that will be complementary with the authentic mission styling,” said Michael Gordon, global chief investment officer at Harrison Street.
“This includes arched colonnades, deep set windows, clay roof tiles, white wash plaster walls and authentic mission style lighting,” Gordon said.
The Hacienda Mission San Luis Rey will have 213 apartments, 10 of which will be reserved for friars with Mission San Luis Parish, Gordon said.
The friars will have their own wing in the building with their own community kitchen and living area, Gordon said.
The project will offer independent living apartments, assisted living and 24 private and semi-private apartments designated for memory care.
Studio, one-bedroom, and two-bedroom apartments will range from 350 square feet to 1,200 square feet.
Monthly rents were not disclosed, but Gordon said they would vary depending on the size of apartments and the level of care tenants need.
All independent living and assisted living apartments will have kitchens but there also will be a common dining room.
Courtyards and Virtual Reality
The project also will have a 982 square-foot library, a 570 square-foot chapel, an 850 square-foot garden, and a 154 square-foot virtual reality lounge.
Gordon described the virtual reality lounge as “an area with computer generated simulation in which a tenant can interact with an artificial three-dimensional environment using electronic devices, such as special goggles with a screen or gloves fitted with sensors.”
The project will have three interior courtyards, including a main courtyard of 9,000 square feet.
The main courtyard will have an area for outdoor dining, a gas fireplace, and a heated swimming that will be used for exercise classes and recreation, Gordon said.
The also will be a 6,500 square-foot interior courtyard and a 2,250 square-foot courtyard designated for tenants in memory care apartments.
Gordon said there also will be two exterior courtyards of 1,250 square-feet each on the south side of the site that can be accessed without entering the community.
“We also feature a 5,000 square-foot area that contains two pickle ball courts with a seating group covered by a wooden trellis, and a 1,700 square-foot dog run to the north,” Gordon said.
The developers were drawn to Oceanside because “Oceanside is an underserved market for senior housing with limited comparable options that are in demand by modern seniors,” Gordon said.
Rev. Anthony Garibaldi of Mission San Luis Rey Parish said “The inspiration for this senior living community on the grounds of Mission San Luis Rey began 34 years ago and is a dream coming true.”
CEO, chairman and co-founder: Christopher Merrill
Annual revenue: $60 million
Company description: Real estate investor/manager
Notable: Harrison has acquired more than 3 million square feet of life science lab, research and innovative space since 2018.
Headquarters: Excelsior, MN
CEO: Joe Ryan
Annual revenue: $9 million
Notable: Oppidan has developed more than 550 projects valued at more than $4 billion in 39 states and Canada