Sunrise at Wilton

Avison Young recently closed on two land sales that pave the way for development of more than 250 units of assisted living, memory care and independent housing for the elderly.

In the first transaction, Sean McDonnell, principal in the Fairfield/Westchester office and head of the firm’s health care real estate division, joined with Senior Associate Alison Luisi of Avison Young’s Capital Markets Group to arrange the $5 million sale of a 3.81-acre site from Young’s Nurseries Inc. at 211 Danbury Road in Wilton to 211 Danbury Road LLC. The site was approved for the development of 90 assisted living and memory care units to be operated by Sunrise Senior Living.

In the second transaction, the team of Sean Cahill and Luisi arranged the $3.79 million sale of an 8-acre, pad-ready site at 26 Beard Sawmill Road in Shelton. The seller was Hawk’s Ridge of Shelton LLC and the buyer was Shelter Development LLC. The site was approved for 160 units of assisted living, memory care and independent living housing to be operated by Brightview Senior Living.

“With the 65 and older population estimated to grow by 57 percent between 2010 and 2040 according to Connecticut’s Legislative Commission on Aging report, and this demographic currently making up more than 20 percent of the overall Connecticut population, there is a large demand for assisted living and memory care development throughout Fairfield County and the surrounding region,” Luisi said in a statement.