Village On The Isle pays $21.5M for Venice property

Village On The Isle, a nonprofit Life Plan Community in Venice, has purchased 50.25 acres of land for a satellite campus as it reports full occupancy and a waiting list.

Village On The Isle paid $21.5 million for the property at 2705 East Venice Avenue.

The organization will develop the site as Arbor Vita, its planned satellite community.

“This decision has been made after many years of thoughtful consideration and extensive due diligence from our Board and leadership team,” said Doug Feller, CEO of Village On The Isle.

Aerial map showing the 50.25-acre Venice property outlined in yellow near East Venice Avenue. — An aerial view shows the 50.25-acre property at 2705 East Venice Avenue in Venice, outlined in yellow, where Village On The Isle plans to develop its Arbor Vita satellite campus.

A full campus and a wait list

Village On The Isle said it is fully occupied and maintains a wait list of interested residents.

Later in 2025, the community plans to open two new buildings, adding 54 independent living units. The organization said all units are presold.

How Arbor Vita will work

Arbor Vita will offer independent living apartments, cottages and duplexes.

Residents will access health care services through Village On The Isle’s main campus at 920 South Tamiami Trail, located less than six miles from the new site.

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“The proximity of this site to our existing campus makes it an ideal location for a satellite community,” Feller said. “It allows us to offer the same life care lifestyle as we do now and extend healthcare services from our current campus while continuing to serve seniors in a meaningful and sustainable way.”

A property shaped by a stalled project

The East Venice Avenue site previously held residential homes. A former hospital operator later acquired the land with plans to develop a medical facility.

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The project never moved forward.

MG Venice LP later purchased the property and sold it to Village On The Isle.

Zoning and long-term plans

The property is zoned for up to 452 multifamily residential units.

Village On The Isle said it does not plan to develop the site at full density. The organization said it is finalizing plans and expects outdoor space to be a major feature of the campus.

Construction timeline

Village On The Isle expects to break ground on Arbor Vita in 2027. Completion is anticipated in 2030.

Founded in 1979, Village On The Isle is affiliated with the Evangelical Lutheran Church in America. The organization provides independent living, assisted living, memory care and skilled nursing in Venice.