Stonegate Development Company of Florida, LLC. was founded in 2015 by principals David P. Babinski and J. Bennett Grocock for the purpose of acquiring key site locations on which to develop assisted living and memory care communities and assembling the professional team and securing all necessary equity and debt financing.
Both residents of central Florida, David and Bennett met while providing financial consulting to a developer and lender of residential rehabilitation projects. Both had been researching the emerging growth market for Assisted Living Facilities in retirement-rich Florida and determined that combining their resources of talent, professional relationships, and access to capital would enhance the success of their new development activities.
By conducting extensive due-diligence in the senior housing market in Florida and forming strong strategic relationships with development partner Nvision Development and operating partner Solvere Senior Living, plans were created to launch a multi-unit Assisted Living and Memory Care development program in Central Florida, with an emphasis on the massive “middle market” of underserved senior retirees.
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Stonegate and its team are committed to building top-quality communities throughout the Central Florida market that provide the highest level of care to its residents.
Current Projects
Stonegate Development leverages its partnerships to take a unique approach to the Assisted Living Marketplace. Comprehensive market studies and excellent development partners allow for us to build and operate both "Market Rate" and "Middle-Market" properties. Therefore, a Stonegate property can excel anywhere there is demand, regardless of the income-potential of the area.
HearthStone at Wildwood
HearthStone at Wildwood
Currently Open
The Wildwood project is the second “Middle-Market” community developed by the Stonegate team. Situated on the doorstep of the world-famous “The Villages” 55+ retirement community, the Wildwood community has 130 Assisted Living and Memory Care units.
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The Wildwood community had its Grand Opening Ceremony on December 14, 2023.
Visit the Wildwood Website
Hearthstone at Wildwood
Virtual Tour
HearthStone Nona Lakes
HearthStone Nona Lakes
Currently Open
This Market-Rate ALF is located adjacent to Medical City, in the Lake Nona section of Orlando, Florida. Organic demand from the area and the rapidly expanding Lake Nona area have the Lake Nona project poised to be a successful market-rate community in the heart of affluent Lake Nona. The development includes 10 acres of prime land with a 94-unit, 78,000 square foot assisted living and memory care community.
The Nona Lakes community had its Grand Opening Ceremony on April 11, 2024.
