Clearday, Inc., a leading innovator in longevity care and wellness services, has made the first Opportunity Zone (OZ) investment in San Antonio District 10. With the investment, totaling a minimum of $3.2 million, Clearday has acquired and is transforming the medical building property located at 8800 Village Drive, adjacent to the Northeast Baptist Hospital campus. Upon completion of the building renovation, Clearday will consolidate its corporate headquarters ? as well as those of its Memory Care America subsidiary and other affiliate businesses ? at the site.
The company also announced that the first floor of the Northeast Corridor site will serve as the flagship location of Clearday Clubstm, an innovative new daytime care destination serving those with Alzheimer's, dementia or other lifestyle limiting chronic health conditions. Clearday will launch the flagship Club ? along with Clubs in New Braunfels and Kerrville ? later this Spring, with plans for additional locations across Central Texas through the balance of 2020.
Clearday develops innovative options that address the widening gap between the longevity care needs of older Americans and the availability of affordable, high-quality care options. Each day, 10,000 Americans turn 65, and over 35 million people in the U.S. provide unpaid care to an adult over 50. The new daytime-only Clearday Club concept offers a high-quality care environment and uplifting member experience, at a price point less than 25% of the daily cost of residential care options.
"At Clearday, we are building an innovative, enduring business serving a great human need ? making excellent care more accessible and affordable for our loved ones as they age," said Clearday Chairman and CEO Jim Walesa. "We are thrilled to make this Northeast Corridor location the epicenter of our mission."
The federally designated Opportunity Zone program was initiated under the Tax Cuts and Jobs Act of 2017 and is designed to spur investment in lower-income communities by providing investors with tax breaks on capital gains if they reinvest the capital within the zones.
City Councilman Clayton Perry played an instrumental role in bringing the Clearday OZ investment to the District 10 community, helping Clearday identify the property and drive enthusiasm for the project among city officials and local businesses.
"This Clearday investment meets the true spirit of Opportunity Zone investing and will deliver revitalizing impact to our neighbors here in District 10 and all over San Antonio," said Perry. "The investment brings multiple growing businesses to the Northeast Corridor, along with a new, high-profile elder care facility that will provide both jobs and badly-needed, affordable senior care services to the local community."
Clearday is an innovative longevity care and wellness company, with a modern, hopeful vision for making high quality care options more accessible, affordable, and empowering for older Americans and those who love them. Through our subsidiary Memory Care America (MCA), we operate a network of highly rated residential memory care communities in four U.S. states. With our Clearday Clubstm concept, we are bringing the same standard of excellence found in our MCA residential facilities to a daytime-only community model that is dramatically less expensive than residential care options. Learn more about Clearday, Clearday Clubs at myclearday.com