Village On the Isle Breaks Ground on $78 Million Community Expansion
January 27, 2025
VENICE, FL — Village on the Isle, the only CCRC on the island of Venice, has announced in a press release that it has broken ground on a $78,225,000 expansion that will add a 9,200-square-foot wellness center and 54 independent living units to the campus. The project will add high-end amenities to enhance the wellness offerings at the community.
“The demand for wellness-focused senior living communities has increased as today’s seniors care more about their physical and mental health,” said CEO Doug Feller. “This new state-of-the-art wellness pavilion will allow us to stay ahead of the latest trends and offer our residents the most up to date amenities that will contribute to their overall health and wellbeing.”
The wellness center, which will be named “The Core,” will be located at the center of the 16-acre community. It will feature a state-of-the-art fitness center, indoor pickleball court, spa and sauna, professionally branded poolside lounge, and zero-entry outdoor pool. The Core will offer a diverse calendar of fitness classes from gentle yoga and water aerobics to functional fitness and personal training.
The spa will include a full-service salon, manicure and pedicure station, and a private massage room. Outside, the pool will feature two lap lanes, a sunbathing platform, a jetted seating area, an expansive shallow end to accommodate water aerobics, and a large firepit. The renovation will also include the addition of a poolside lounge with indoor and outdoor seating that features a mosaic-tiled pizza oven and a full food and drink menu.
“The Core will serve as the centerpiece of our community where residents can come together for a meal, a drink, or a friendly competition or fitness challenge,” Feller added. “We are excited to usher in this next phase at Village on the Isle and look forward to seeing how our residents use the space for their enjoyment and the betterment of their health.”
The $78-million renovation will also include two five-story independent living buildings, which will allow the community to meet the growing demand for independent living in the area. Currently, the community has 234 independent living units, 48 assisted living units, 16 memory care units, and 64 private skilled nursing beds. The new independent living buildings will add 54 independent living residences ranging from 1,300 to 1,800 square feet. Presales for the new units began in September 2024 and the project is nearly 90 percent presold.
Village On The Isle engaged Greystone, a national advisor in senior living, to provide development consulting services during the planning, development, and marketing related to the expansion. Long-term financing of the project closed late last year and included $78,225,000 of Series 2024A and 2024B bonds issued through the City of Venice and it was underwritten by B.C. Ziegler and Company.
The renovation is the second phase of redevelopment at the community. They previously completed a $100 million renovation that added two independent living neighborhoods with a total of 46 residences and a five-star, state-of-the-art health center with 64 private bedrooms and bathrooms for skilled nursing. The Lofts, the community’s assisted living and memory care neighborhood, was also completely remodeled during phase one.
“We’re committed to being the market leader for senior living in Sarasota County,” said Feller. “These renovations will help us solidify that position and create a space that will serve seniors in our area for many years to come.”
Incorporated in 1979, Village On The Isle is a nonprofit CCRC affiliated with the Evangelical Lutheran Church in America. Located less than half a mile from the Gulf of Mexico, the community offers independent living, assisted living, memory care, and skilled nursing, and it gives residents an opportunity to live independently in apartments and cottages, then transition to quarters with caregiver assistance as their needs warrant.