Edgemark Development, MorningStar Senior Living Plan 160-Unit Senior Community in Palm Desert

PALM DESERT, Calif. — Edgemark Development, LLC and MorningStar Senior Living are submitting plans to the City of Palm Desert for a 210,000-square-foot senior living community at 45640 Highway 74, just south of El Paseo Drive, the firms announced Nov. 4. The project, called MorningStar Senior Living at El Paseo, is slated to break ground in fall 2027 and open in spring 2029.

The two- and three-story development will include 160 units of independent living, assisted living and memory care, designed to allow residents to age in place.

Project Details for MorningStar Senior Living at El Paseo

The community will be built between Highway 74 and Ocotillo Drive in Palm Desert, Calif. The firms said the location will give residents ready access to El Paseo Drive, the mile-long thoroughfare that serves as the cultural and retail center of the city.

The building will use contemporary architecture and design elements. Planned common areas include indoor and outdoor dining venues, an aquatics program with a pool and spa, a full-service salon, a fitness center and a theater. The community will also be equipped with technology intended to support resident wellness, the firms said.

Virtual tours are expected to be available in 2028. Early depositors can call (442) 371-3131 for information and project updates.

Ownership and Operating Structure

Edgemark Development will serve as project owner, and MorningStar Senior Living will operate the community. MorningStar at El Paseo is the second joint venture between the two companies. Their first was MorningStar at Holly Park in Centennial, Colo., a 160-unit community that opened in 2024.

Holly Park, at 6675 South Holly Street, comprises 184,000 square feet in a four-story building on a three-acre site, with 85 independent living units, 50 assisted living units and 25 memory care suites. The property sold for $88.6 million, or about $553,750 per unit and roughly $481 per square foot, and was fully occupied at the time of sale.

Executive Comments

"This project represents another ideal opportunity to partner with MorningStar. Entering a high barrier-to-entry market was not without its obstacles but we're excited to meet the growing demand of next generation seniors who seek a luxury residential experience in the desert," said Rick Sapkin, founder and managing partner of Edgemark Development.

Ken Jaeger, founder and CEO of MorningStar, said the company's mission "to honor, to serve and to invest has set us apart in the senior living space" since its founding in 2003. "We are honored to have found a partner in Edgemark who shares these core values," Jaeger said. He added that the El Paseo community "will be designed to offer Palm Desert seniors elegance and comfort, resort-style amenities, and a compassionate, responsive hospitality and care team."

About the Developer and Operator

MorningStar describes itself as an integrated developer, owner and operator of retirement communities. Its portfolio includes more than 40 properties under operation or development, representing more than 5,000 units in 11 states in the Midwest and Western United States. The company offers independent living, assisted living and memory care.

Edgemark Development was founded in 2000 and has acquired and developed more than 5.2 million square feet in 22 states. Its projects span affordable housing, multifamily, self-storage, retail, office and senior living.

Market and Schedule Considerations

Edgemark characterized Palm Desert as a high-barrier-to-entry market. The project targets affluent older adults seeking a hospitality-oriented residential product, and its mix of three care levels is intended to let residents remain in one community as their care needs change. With construction not scheduled to begin until fall 2027 and an opening targeted for spring 2029, the project remains subject to interest rate, construction cost, labor and absorption conditions over the development period.

Sources

• MorningStar Senior Living press release: https://www.morningstarseniorliving.com/in-the-news/morningstar-and-edgemark-plan-senior-living-in-palm-desert-ca/