Senior Quality Lifestyles Corporation Announces Completion of Land Purchase, Groundbreaking Date for The Stayton at Museum Way

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Senior Quality Lifestyles Corporation (SQLC), in conjunction with Greystone Communities, Inc., announced the completion of the $4 million land purchase for The Stayton at Museum Way life care retirement community. The Stayton at Museum Way will be constructed on 2.5 acres of land located at Stayton Street and Museum Way in the Fort Worth Cultural District. The announcement was made by Charles B. Brewer, president and CEO of SQLC. A premier residential address, the 11-story community will serve 188 families seeking an active lifestyle in the heart of the West 7th Cultural District. Official groundbreaking is set for Oct. 22, and the community is scheduled to open in 2011.

Rendering of The Stayton at Museum Way

It is gratifying to complete this stage in the development of The Stayton at Museum Way, especially in light of the economic situation the country has experienced over the past 14 months

Senior Quality Lifestyles Corporation (SQLC), in conjunction with Greystone Communities, Inc., announced the completion of the $4 million land purchase for The Stayton at Museum Way life care retirement community. The Stayton at Museum Way will be constructed on 2.5 acres of land located at Stayton Street and Museum Way in the Fort Worth Cultural District. The announcement was made by Charles B. Brewer, president and CEO of SQLC.

A premier residential address, the 11-story community will serve 188 families seeking an active lifestyle in the heart of the West 7th Cultural District. Official groundbreaking is set for Oct. 22, and the community is scheduled to open in 2011.

"It is gratifying to complete this stage in the development of The Stayton at Museum Way, especially in light of the economic situation the country has experienced over the past 14 months," said Brewer. "The Stayton has been extremely well-received by seniors in the Fort Worth community. Our bond underwriters, Ziegler Capital Markets, have released a Preliminary Official Statement and begun negotiations with institutional investors around the country to raise $165 million for the construction and development of The Stayton. With the recent improvement in capital market conditions, we hope to complete our financing for the project by the end of October and begin construction immediately."

Residences are available in one-, two- and three-bedroom floor plans ranging in size from 850-square feet to more than 2,200-square feet. The Stayton at Museum Way will be the only full service life care community serving Fort Worth with priority access to onsite assisted living, memory support and private skilled nursing at a predictable cost.

The Stayton at Museum Way is a 501(c)(3) nonprofit retirement community sponsored by Senior Quality Lifestyles Corporation (SQLC), a Texas-based nonprofit organization that sponsors similar communities in Dallas (Edgemere), Houston (The Buckingham), and Austin (Querencia at Barton Creek). A fifth community, located in Corpus Christi (Mirador), is currently under development with construction also expected to begin by the end of the year. For information, visit http://www.thestayton.com, or call (817) 439-6936.

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Jessica Young
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