CNL Opens 210-Unit Independent Living Community Near Houston

by Jeff Shaw

KATY, Texas — CNL Healthcare Properties has completed the construction of Watercrest at Katy, a 210-unit, 365,000-square-foot independent living community in the Houston suburb of Katy.

The new community is on a 12.5-acre plot. It is CNL’s 12th community in Texas.

South Bay Integrated, a Dallas-based operator, manages the community. It is the fourth partnership between CNL.

Origin Bank provided $27 million in construction financing for the property. South Bay Partners Ltd. was developer and joint venture partner with CNL.

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