The popularity of John Knox Village of Florida’s $120 million Westlake Luxury Towers has helped the retirement care center accumulate over $50.5 million in entrance and monthly service fees. With 127 of the 147 homes now occupied, JKV can now access funds from the project two years earlier than initially estimated.
“The popularity of Westlake and JKV in general speaks to the appeal of our award-winning lifestyle, overall wellness and educational programming, world-class life enrichment opportunities, and top-notch healthcare for retired adults,” says Douglas Folsom, Chief Financial Officer of John Knox Village of Florida, Inc. “Furthermore, because of the Board’s and JKV’s leadership’s deep knowledge of the industry and the management changes enacted over the past two years, the organization remains fiscally responsible, ensuring the repayment of the bond convenance ahead of schedule. The entrance fees and monthly service fees that Westlake has brought in, to date, help secure financial stability for all residents today and in the future.”
The Westlake Luxury Towers feature 147 luxurious lakefront apartment homes designed by state-of-the-art designers, ranging from 1,277 to 2,346 square feet. The common area lobby on the first floor will offer several new amenities, such as a high-tech projection theater, technology hub, art studio, spiritual space, club room, library, bakery, coffee and wine bar and Westlake Eatery.
“We are so proud of our team and the accomplishments they have made moving so many new residents into Westlake so smoothly,” says Kim Ali, Vice President of Sales and Marketing for JKV. “This has been the most successful and fastest fill of a new building that I have ever been a part of in my 20+ years in the industry. The overwhelming task of moving so many residents in efficiently in such a short time illustrates how the team strives to put their needs above anything else.”
Ten move-ins are scheduled for October 2024, leaving Westlake with only 10 apartments.
