Living Out Palm Springs will be an active adult retirement community designed to meet the unique needs of the LGBTQ+ community
December 09, 2021
Torrey Pines Bank client, KOAR International, a Los Angeles-based real estate development company, recently broke ground on its property development, Living Out Palm Springs. This will be an active adult retirement community designed to meet the unique needs of the LGBTQ+ community.
Patrick Davern, Senior Director at Torrey Pines Bank, worked closely with KOAR International to put in place a tailored loan structure to develop this innovative property. Project construction is scheduled to take 18 months with anticipated opening and initial tenant move-ins at the end of the first quarter of 2023.
"We wanted to create a safe and beautiful community for LGBTQ+ seniors 55 and over. The Living Out development will be the first of its kind in the Southern California area," said Loren Ostrow, KOAR International owner, at the Living Out Palm Springs groundbreaking ceremony this fall. Davern, along with Torrey Pines Bank EVP Robert McAuslan, participated in the Living Out Palm Springs groundbreaking ceremony to support their client’s unique vision.
Living Out Palm Springs will be an upscale resort apartment community built on nine acres in central Palm Springs, composed of 122 luxury apartments. The architecture of the community will reference the iconic Mid-Century Modern style for which Palm Springs is famous. The project will feature dramatic landscaping, desert mountain views, an upscale, full-service restaurant and bar, movie theater with reclining seats, game room, card room, state-of-the-art fitness center, arts and crafts studio, massage rooms, a hair and nail salon. As well, the exciting new development will feature an innovative community lounge that will include a coffee bar, prepared food options and workspace.
Outside, appealing amenities will include covered surface parking for all residents as well as guest and retail parking, an event lawn, BBQ and entertainment areas, a resort-style swimming pool, three separate jacuzzi spa areas, bocce ball courts, a putting green, orchards, rose gardens and walking paths.
A unique element of the project will be a large pet park, with areas for large and small dogs adjacent to a full-service pet facility, including a retail store, grooming facilities, plus pet day care and overnight boarding. Another key amenity for all residents will be on-site and virtual concierge services.
Living Out Palm Springs will be the flagship property for KOAR International, which plans to develop additional Living Out communities around the country.