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Old Posted Jun 5, 2019, 7:08 AM
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Canyon Ranch and Hines associated with proposed Tanglewood tower

Quote:
A proposed high-rise that sparked a lawsuit last month from homeowners in the Tanglewood neighborhood would be a luxury tower for residents aged 62 and up and include amenities associated with Canyon Ranch, the well-known health and wellness resort with properties in Arizona, Massachusetts and Las Vegas.

Details of the proposed 20-story tower were included in a survey that was sent to residents last month seeking input on what they might like to see in the property.

Tuscon-based Watermark Retirement Communities is planning the development, according to a letter included with the survey, but it also appears that Houston-based Hines is involved. The letter, which is signed by Watermark Chairman David Freshwater and the Canyon Ranch Chief Executive Susan Docherty, is also signed by Ryan Pritchard, a director with the Hines real estate firm.

Houston-based Hines declined to comment, and a Watermark spokesperson said the company didn't have information to share "at this early stage." Fort Worth-based Canyon Ranch could not be reached immediately. Officials with the company have discussed plans to enter the senior living industry.

The plan for the tower includes 230 one- and two-bedroom apartments for independent and assisted living, as well as memory care suites, according to the survey.

The apartments would range from 850 to 1,550 square feet, and monthly fees would be between $6,000 to $10,500, including rent, utilities, maintenance, dining, housekeeping, events and the use of all Canyon Ranch amenities.

Tanglewood Homes Association Inc. sued the owners of 1661 Tanglewood Blvd., the property it says will house the tower, asking the court to prohibit a high-rise from being developed on the site based on restrictive covenants.

The owners of the property — descendants of Tanglewood's original developer — are planning to sell their land or partner with a developer to build the project at the northeast corner of San Felipe and Tanglewood Boulevard, according to the lawsuit filed in May in state District Court.
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