Environments for Aging - Spring 2021 - 27

Watermark Retirement Communities turns a
landmark building into a luxurious senior living
community in Brooklyn, N.Y. By Stacey Freed

PHOTO CREDIT HERE

atermark Retirement Communities primarily focuses on upscale senior
living and operates 58 senior living properties in 21 states. But New
York City was missing from its portfolio, says Bryan Schachter, chief
investment officer at Watermark Retirement Communities (Tucson,
Ariz.). More than that, he says, the company had also identified heightened demand there for the type of product Watermark wanted to deliver-something with
memory care, assisted living, and independent living. " We wanted to establish a presence
in one of the strongest demographic and underserved markets in the country, " he says.
For years, its development arm, The Freshwater Group, searched the city for the right
property that would meet the organization's desire to expand there.
That opportunity came in 2017 when it found an empty building at 21 Clark Street in
Brooklyn Heights, which was built in 1928 as the Leverich Towers Hotel. Watermark saw
the property as a great candidate for a high-end project within its Elan Collection, the
company's " highest-end luxury communities, " Shachter says. With this Brooklyn project,
he adds, " [Watermark] could deliver the wellness offerings, services, and amenities that
we felt would differentiate the property from what existed in New York and nationally. "
Watermark acquired the property for
$200 million and began working with the
design team of Montroy DeMarco Architecture
and Lemay + Escobar to transform the building into The Watermark at Brooklyn Heights.
Andres Escobar, design principal at Lemay +
Escobar (New York), which handled interior
design, says the overall goal was to create an

Left and Inset: The Watermark at
Brooklyn Heights is a $330 million
redevelopment and renovation of
the iconic Leverich Towers Hotel in
Brooklyn, N.Y. The reimagined hotel
entry and lobby (seen at left) set the
tone for the experience.
Spring 2021 * EFAmagazine.com

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http://www.EFAmagazine.com

Environments for Aging - Spring 2021

Table of Contents for the Digital Edition of Environments for Aging - Spring 2021

Environments for Aging - Spring 2021
Table of Contents
Masthead/eTable of Contents
Editorial/Board
Show Talk/Ad Index
Bulletin/Past And Future
Bulletin/Product Spotlight
Community/Shifting Mindsets
Natural Attraction
Historic Transformation
Showcase Jury
Showcase Trends
Showcase Nuggets
EFA Design Showcase Ad Index
The Spark/Nod To The Past
Environments for Aging - Spring 2021 - Environments for Aging - Spring 2021
Environments for Aging - Spring 2021 - Cover2
Environments for Aging - Spring 2021 - 1
Environments for Aging - Spring 2021 - Table of Contents
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Environments for Aging - Spring 2021 - Masthead/eTable of Contents
Environments for Aging - Spring 2021 - 5
Environments for Aging - Spring 2021 - 6
Environments for Aging - Spring 2021 - Editorial/Board
Environments for Aging - Spring 2021 - Show Talk/Ad Index
Environments for Aging - Spring 2021 - 9
Environments for Aging - Spring 2021 - Bulletin/Past And Future
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Environments for Aging - Spring 2021 - Bulletin/Product Spotlight
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Environments for Aging - Spring 2021 - Community/Shifting Mindsets
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Environments for Aging - Spring 2021 - Natural Attraction
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Environments for Aging - Spring 2021 - EFA Design Showcase Ad Index
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Environments for Aging - Spring 2021 - The Spark/Nod To The Past
Environments for Aging - Spring 2021 - Cover3
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