Birmingham company, Atlas Senior Living, and Tennessee-based Veritas Senior Living, acquired an independent living community in Chattanooga called East Ridge Residence off 1417 North Mack Smith Road. The close date was July 2.
Atlas Senior Living has so far focused on building upscale, high-end independent living communities, and Veritas has predominantly been in the assisted living area. With this joint venture, both companies will be taking a different approach to be able to provide affordable but high-level living opportunities for seniors of various demographics and incomes who need senior living services.
The two senior living companies will be doing a complete renovation of East Ridge Residence with both the building and landscaping. East Ridge Residence currently has 136 apartments but will grow to 144 units after the renovation work, which is expected to be completed by early 2019.
“First and foremost, we are excited to join East Ridge Residence, and we are honored to help serve our residents to ensure they continue to live life on their terms,” said Scott Goldberg, CEO and President of Atlas Senior Living. “The East Ridge Residence team is outstanding and has such a positive culture brewing. Atlas’ approach is to see how we can merge or adjust our governing to best fit current practices. As we come in, we like to say less and listen more,” he said.
On partnering with Veritas Senior Living, he said, “We are thrilled to partner with the committed, local group, Veritas Senior Living. CEO Matt Fox and his team share our aspirations and look forward to beginning an effective partnership. Chattanooga is a superb market with great leadership; it’s a treat to serve in a community like this.”