FOR IMMEDIATE RELEASE
March 12, 2010
Mad Mag Development Buys 24 Acres in Craig Ranch Company to Develop Resort-Style Senior Living in McKinney
(McKinney, TX) Craig International and Mad Mag Development announced today the purchase of 24 acres in Craig Ranch (http://www.craigranchtx.com/) to develop a resort-style senior living project. Tuscarora at Craig Ranch will be the first full-service Continuing Care Retirement Community (CCRC) in Collin County that offers the full continuum of care for active seniors.
“We are proud to officially welcome Tuscarora to Craig Ranch,” said David Craig, Founder and developer of Craig Ranch. “We’ve been working to finalize this deal for two years. In an environment where projects are being scrutinized more than ever, it is a real testament to our team and Tuscarora that we made it over the finish line in this economy. I especially applaud the perseverance that Jeff Yates showed in making this deal come together.”
Tuscarora is located on the north side of Collin McKinney Parkway just west of Stacy Road. It will primarily focus on independent living with a mix of apartments and villas. It also features an onsite healthcare facility, which will include assisted living, skilled nursing, rehabilitation and memory care units. The Community Commons will include a medical clinic and senior related retail including audiology, optometry and an on-site pharmacy. It will also include a variety of dining venues, retail shops, a dry cleaners and a bank. In addition to an on-site wellness center, residents will also have access to the world-class golf and fitness amenities at Craig Ranch.
“When seniors see our concept, we want them to say, ‘we never dreamed we could live life like this,’” said Jeffery C. Yates, President and CEO of Mad Mag Development. “We want to surround our residents with ways to stay active in life along with the best medical care. Tuscarora is unique in that we have some of the best physicians in the region investing in the community, and they will be active in the programs for our residents. Further, being part of Craig Ranch gives our residents access to all of its state-of-the-art amenities. It’s a combination like no other CCRC around.”
Life Care Services (http://www.lcsnet.com/), an industry leader in the management of senior living facilities, will oversee development, marketing, management and operations of Tuscarora. Life Care currently manages more than 100 communities across the country and has been doing so for nearly 40 years.
Yates says construction is scheduled to begin on phase one of the project in the first quarter of 2011 and includes the assisted living, skilled nursing, memory care and rehabilitation facilities. Pre-sales for the independent living apartments and villas will begin this summer with an estimated start of construction in 2012. Once completed, there will be 500+ residents at Tuscarora. An estimated 200 jobs will be created from the development once it is fully operational.
Karen “KK” Taylor brokered the deal for Craig Ranch. The purchase price of the transaction was not disclosed. For seniors wanting more information about Tuscarora at Craig Ranch, please call 1-877-365-4574.
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About Craig Ranch:
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.
About Mad Mag Development:
Mad Mag Development is based in Amarillo, Texas and was formed with the sole intent of developing Tuscarora at Craig Ranch. Mad Mag Development will serve as the General Partner for Tuscarora at Craig Ranch, LP. The mission of Mad Mag is to create a full-service resort-style senior living facility with a strong medical presence and an active lifestyle. Inspired by his grandparents, Jeffery C. Yates, President and CEO, leads an invested group of local professionals who comprise the company. The investors of Mad Mag include cardiologists, orthopedic surgeons, internal medicine doctors, podiatrists and pain management specialists.
Media Contact:
Carey Marin
carey@lemastergroup.com
(214) 914-1157
March 12, 2010
Mad Mag Development Buys 24 Acres in Craig Ranch Company to Develop Resort-Style Senior Living in McKinney
(McKinney, TX) Craig International and Mad Mag Development announced today the purchase of 24 acres in Craig Ranch (http://www.craigranchtx.com/) to develop a resort-style senior living project. Tuscarora at Craig Ranch will be the first full-service Continuing Care Retirement Community (CCRC) in Collin County that offers the full continuum of care for active seniors.
“We are proud to officially welcome Tuscarora to Craig Ranch,” said David Craig, Founder and developer of Craig Ranch. “We’ve been working to finalize this deal for two years. In an environment where projects are being scrutinized more than ever, it is a real testament to our team and Tuscarora that we made it over the finish line in this economy. I especially applaud the perseverance that Jeff Yates showed in making this deal come together.”
Tuscarora is located on the north side of Collin McKinney Parkway just west of Stacy Road. It will primarily focus on independent living with a mix of apartments and villas. It also features an onsite healthcare facility, which will include assisted living, skilled nursing, rehabilitation and memory care units. The Community Commons will include a medical clinic and senior related retail including audiology, optometry and an on-site pharmacy. It will also include a variety of dining venues, retail shops, a dry cleaners and a bank. In addition to an on-site wellness center, residents will also have access to the world-class golf and fitness amenities at Craig Ranch.
“When seniors see our concept, we want them to say, ‘we never dreamed we could live life like this,’” said Jeffery C. Yates, President and CEO of Mad Mag Development. “We want to surround our residents with ways to stay active in life along with the best medical care. Tuscarora is unique in that we have some of the best physicians in the region investing in the community, and they will be active in the programs for our residents. Further, being part of Craig Ranch gives our residents access to all of its state-of-the-art amenities. It’s a combination like no other CCRC around.”
Life Care Services (http://www.lcsnet.com/), an industry leader in the management of senior living facilities, will oversee development, marketing, management and operations of Tuscarora. Life Care currently manages more than 100 communities across the country and has been doing so for nearly 40 years.
Yates says construction is scheduled to begin on phase one of the project in the first quarter of 2011 and includes the assisted living, skilled nursing, memory care and rehabilitation facilities. Pre-sales for the independent living apartments and villas will begin this summer with an estimated start of construction in 2012. Once completed, there will be 500+ residents at Tuscarora. An estimated 200 jobs will be created from the development once it is fully operational.
Karen “KK” Taylor brokered the deal for Craig Ranch. The purchase price of the transaction was not disclosed. For seniors wanting more information about Tuscarora at Craig Ranch, please call 1-877-365-4574.
###
About Craig Ranch:
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.
About Mad Mag Development:
Mad Mag Development is based in Amarillo, Texas and was formed with the sole intent of developing Tuscarora at Craig Ranch. Mad Mag Development will serve as the General Partner for Tuscarora at Craig Ranch, LP. The mission of Mad Mag is to create a full-service resort-style senior living facility with a strong medical presence and an active lifestyle. Inspired by his grandparents, Jeffery C. Yates, President and CEO, leads an invested group of local professionals who comprise the company. The investors of Mad Mag include cardiologists, orthopedic surgeons, internal medicine doctors, podiatrists and pain management specialists.
Media Contact:
Carey Marin
carey@lemastergroup.com
(214) 914-1157
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