Terrell Senior Terraces III, (TST III) is a proposed development by Life Rebuilders, Inc., developer of the existing 252-unit Terrell Senior Terraces, which are adjacent. TST III will consist of an 80-unit residential styled, single story, senior apartment home development on 6.787 acres at the SWC of Windsor Ave.& FM 2578 with an elaborate soothing hot tub.
TST III will be the third phase of the very popular senior community, Terrell Senior Terraces. Many consider Terrell Senior Terraces as the finest senior housing built to date for North Texas’ most experienced generation.
The reader’s attention is directed to the “City of Terrell, City Update” for information on other developments happening in Terrell all of which are close to TST and will have a dramatic positive impact on Terrell Senior Terraces. “Baylor Healthcare [59 acres], Oakridge Development, Sinacola, Anthony Properties, and a major outdoor mall developer [288 acres] have submitted TIF applications with $1 billion in new value.”
These proposed new developments have started work already on infrastructure and they are within a mile west of TST and will have a major positive impact on the TST Community! East of us about a mile is the Terrell Municipal Airport, which is undergoing a major renovation in order to better accommodate the private traffic. The new entry road, across from FM 2578 off of Highway #34, is now under construction. The new entry road revision at Highway #34 will be an excellent “landmark” for future TST residents.
The existing Terrell Senior Terraces (TST) has been extremely well received by seniors to date. TST III will be built with the same attention to detail and it will become part of the TST community.
The concept plan calls for 80 senior apartment homes on 6.787 acres, which is only 11.78 units an acre. Because of the historic waiting list for market rate 2-bedrooms at TST, and applications already being taken for Phase III units, the recommended unit mix would include 75% 2-bedroom 2-bath apartment homes. TST III is anticipated to be financed utilizing FHA 231 together with private equity and deferred developer fees.
All of the many activities that Terrell Senior Terraces is famous for will be afforded the residents of TST III also. Two cross walks will be utilized to help our seniors cross over Windsor Ave. to the existing Phases, building a sense of community. All three Phases will be connected via walking trails also.
The 80 apartment homes will be restricted to housing for seniors age 62 years young and better. A variety of social service and activity programs that engage these senior adults will be designed to help keep them active, young at heart, and living independently as long as possible. These seniors will participate in programs already in place, being very successfully implemented in Phases I & II now.
Terrell Senior Terraces’ very popular “Pic-N-Grin” on Friday nights has been documented on a Dallas TV station. An elaborate workout facility helps nourish the body, while two libraries help stimulate the mind, with nourishment for the soul available via onsite Church services three times a week.
Seniors living in Terrell and surrounding areas will be invited to participate in the expanded social service programs and activities. Many of these seniors already participate in programs at TST like the very popular “Pic-N-Grin” on Friday nights where families gather “religiously” from as far away as Fort Worth to the West and many points 2+ hours East also to sing and play stringed instruments of all types well into the night. Yes, one of our residents who helped get it started years ago, 92 year old Louise still attends almost every Friday night to sing a couple of her favorite gospel medleys.
Terrell has always enjoyed a reputation as a desirable affordable bedroom community for the DFW area. Over the last few years it has gained a reputation as a very desirable “close-in” location for seniors from the DFW area being convenient via I-20 & US Highway 80. Recently, Terrell was listed in Forbes as one of the fastest-growing Suburbs in the Country. Seniors have discovered the serenity of living in Terrell.
Excellent medical facilities exist in Terrell now with new additional state-of-the-art facilities, Baylor Healthcare, under development close by. On demand Star Transit, formerly KART, provides transportation for our seniors to medical, shopping, and other destinations. Shopping is plentiful nearby whether at the Tanger Outlet Mall on I-20 only minutes from TST or in one of the quaint downtown boutiques, also only minutes away and very accessible via Star Transit including our senior’s current favorite Walmart.
A good school system, significant employment opportunities, a planned new Baylor Hospital nearby, its close proximately to Dallas, and good shopping with more on the way tend to indicate a bright future for the Terrell Community. These advantages and major recreational opportunities nearby are also indicators for a successful senior residential development with a quick lease up of the 80 market rate senior apartment homes anticipated, as the waiting list for units at the existing apartment homes has been extensive at times with applications for TST III now being accepted.
For development information and investment opportunities, contact Barry Halla (480) 837-3000.
