SAN JOSE — Plans for a senior memory care center in San Jose have pushed ahead with a real estate firm’s purchase of the site where the project would be developed.
Silverado Senior Living, acting through an affiliate, has paid $4.7 million for a site in southwest San Jose where a memory care center is proposed, according to documents filed on June 9 with the Santa Clara County Recorder’s Office.
The project envisions a 70-unit memory care center with 94 beds, according to documents on file with San Jose city planners.
The Cambrian School District sold to Silverado Senior Living a 1.7-acre site on Union Avenue between Byron Way and Cambrianna Drive, county and city documents show.
In 2023, Silverado Senior Living and the education agency entered into a deal for the sale of the property, according to documents on file with the Cambrian School District.
The memory care center, once it is operating, would have no more than 42 staffers on duty at any one time, San Jose planning files show.
The senior residential facility would have three to five shifts a day and would be staffed 24 hours a day.
At the time of the purchase, the Silverado Senior Living affiliate obtained a $4.7 million loan from McGuire Capital Group, with the property used as collateral for the mortgage, according to the county real estate files.
It wasn’t immediately clear when the project might launch construction and when the development might be complete.
Silverado Senior Living has two Bay Area locations for memory care assisted living. One is in Berkeley and one is in Belmont, according to the company’s website.
Loren Shook, Steve Winner and Jim Smith founded Silverado Senior Living in 1996.
“Our purpose was to change the world for individuals living with memory impairment,” the company states on its website.
Silverado Senior Living opened its first memory care assisted living center in the San Diego County city of Escondido.
“We began to see success as our new approach to dementia care was implemented,” Silverado Senior Living states on its website.
Silverado Senior Living states that it takes a multi-pronged approach to combat dementia.
“By reducing medications and increasing participation in age-appropriate activities, we began to see an increase in our residents’ quality of life,” Silverado states on the website.
Silverado Senior Living is also attempting to tap knowledge centers in academia.
“We are encouraged about how care will continue to evolve, fueled by our increased body of knowledge,” Silverado Senior Living states on its website. “Since the beginning, we have committed to partnering with world-class research universities to help contribute to the quest for a world without dementia.”
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