Summerplace at Stockton announces current status of the Stockton Assisted Living Facility

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Summerplace at Stockton, LLC announced today that the site grading will commence in October, 2016.

Woodcrest Construction Management, Inc., the project’s construction management company, announced that once the foundation pad has been formed as part of the site work, the utility conduits will be placed and the foundation itself will be poured. Woodcrest Construction Management, Inc., stated that the foundation work is expected to be completed in December, 2016. Woodcrest will then start underground improvements, with completion and Certificate of Occupancy planned for the last quarter of 2017. The City of Stockton is expected to defer permit fees.

“We are pleased to be making substantial progress as we proceed with construction. Summerplace at Stockton is a premier property giving us the opportunity to service senior citizens as their living needs change. Summerplace at Stockton anticipates having this project fully financed, permitted, and under construction in first quarter of 2017" said Neil Huettenhain, the President of Woodcrest Construction Management Inc.

When completed, Meridian Senior Living will be the manager and operator of the senior living facility. “As a national operator of Senior Housing projects, we're very excited about the opportunity to manage the Summerplace at Stockton facility “said Bob Sweet president of Meridian Senior Living, and added that, “we think this facility is a great fit for this location, and expect a successful launch when built," Mr. Sweet further stated: “Meridian prides itself on providing the resources, experience and individual attention to help make aging related decisions easier.

Summerplace at Stockton is also pleased to announce that it has signed an agreement for MCC Overseas, Ltd. to provide the build-out components for the project.

About Summerplace at Stockton : Summerplace at Stockton is a planned 136 Unit, 154 Bed Assisted Living & Memory Care Facility located in Stockton, CA. : The Assisted Living and Memory Care Facility consists of a 121,825 square foot two-story building situated on 5.90 acres.

  • Stockton is in the county of San Joaquin located in the Northern portion of California. It has been referred to as “an extension of the bay area.” The facility operations will include assisted living, memory care, inpatient and outpatient rehabilitation services and an in house pharmacy. There will be a variety of amenities offered for residents and guests including but not limited to restaurant style dining, a bistro café, theater room, various activities areas and exterior courtyards and walking paths.

About Meridian Senior Living: Meridian Senior Living owns and operates senior housing communities across the United States and provides outstanding care and services for its residents in comfortable home-like settings within its communities. With more than 10,000 beds, Meridian is currently the fifth largest Assisted Living provider and third largest Memory Care provider in the United States. “Exceptional accommodations, within your means, beyond your expectations”: Meridian Senior Living. http:// http://www.meridiansenior.com/

About MCC Overseas: MCC Overseas Ltd (MCCO) is an international engineering service company wholly owned by Metallurgical Corporation of China Ltd (MCC), a Fortune 500 company. MCC is China’s leading multidisciplinary multinational company well known for its experience and strength in EPC contracting, resource development, equipment manufacturing, real estate development and papermaking.
http:// http://mccoverseas.com/

Important Cautions Regarding Forward-Looking Statements:
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "plans," "intends," "anticipates" and variations of such words or similar expressions, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements reflect management's beliefs and assumptions and are based upon information currently available to management and involve known and unknown risks, results, performance or achievements of Summerplace at Westgate, which may differ materially from those expressed or implied in such statements. Such statements include, but are not limited to: adverse economic conditions and the impact on the real estate industry, including healthcare real estate; our ability to finance our assets on terms that are acceptable to us, if at all, including our ability to complete securitization financing transactions; understanding of our competition and our ability to compete effectively; market and industry trends; our financing needs; and, our expected leverage and the effects of our current strategies. Our ability to predict results or the actual effect of plans or strategies is inherently uncertain, particularly given the economic environment. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results in future periods to differ materially from those forward-looking statement. Except where required by law, Summerplace at Westgate undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

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Neil Huettenhain
Woodcrest Development, LLC
+1 9492758761
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