AmeriCare Health & Retirement Acquires Land in Rancho Bernardo to Develop Its Third Silvergate Retirement Community

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Company plans to meet with community representatives to discuss plans for developing its newly acquired property in Bernardo Heights.

AmeriCare Health & Retirement, Inc., a privately held healthcare management company headquartered in Solana Beach, CA, announced Monday that it finalized the purchase of a 10.88 acre “Water Tower” site from the Poway Unified School District on Friday, December 20, 2013. The site is located at 16061 Avenida Venusto in the Bernardo Heights neighborhood in Rancho Bernardo.

AmeriCare plans to develop its third Silvergate Retirement Residence on the property, but will first meet with Rancho Bernardo community groups and City of San Diego planners to discuss how to best integrate local community interests into the development plan. The community has long expressed an interest for a park on the property but the City was unable to provide the funds to acquire the site. To accommodate this community interest, AmeriCare plans to develop the property with sufficient open space to provide a park-like setting that would be available to both the residents of Silvergate and the surrounding community.

“It is important that we work with the community to develop the land in ways that will benefit both the current Bernardo Heights residents, and the new Silvergate residents,” stated Matthew Petree, Director of Project Development for AmeriCare Health & Retirement. “We know there’s a need for senior housing in Rancho Bernardo and we hope to work with all interested parties to help make the new Silvergate Retirement Residence a wonderful addition to the area.”

For updates on community meetings and the project development, contact Alessandra Generoso, Marketing Communications Assistant for AmeriCare Health & Retirement, at ageneroso(at)americarehr(dot)com to be included on the news distribution list.

About Silvergate Retirement Residence
With two locations in Fallbrook and San Marcos, Silvergate Retirement Residences are full-service retirement communities offering independent living, assisted living and memory care services. Both Silvergate communities were recently voted “Top 10 Retirement and Assisted Living Communities in San Diego” in the Union Tribune’s annual San Diego’s BEST Readers Poll. Silvergate is locally owned and operated by AmeriCare Health & Retirement, Inc.

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About AmeriCare Health & Retirement, Inc.
AmeriCare Health & Retirement, Inc. is a privately held healthcare management company that owns, operates and develops in retirement communities and medical office buildings. Formed in 1984, the Company currently owns retirement communities in San Marcos and Fallbrook, and medical office buildings in Encinitas and Vista. AmeriCare focuses on the acquisition, development and ownership of healthcare real estate in the Southern California geographic area, believing strongly that local ownership enhances management’s ability to operate its properties responsively to tenant and resident needs.

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Alessandra Generoso
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