McNair Interests Announces Real Estate Investment in Lifelong Learning Through McNair Living Brand
Private investment firm and real estate developer sees strong residential development opportunity in intergenerational communities--launches new University-based housing concept "Varcity."
McNair Interests the private investment firm and real estate developer, announces investment in and creation of McNair Living. After deploying over a half billion dollars toward innovative new construction starts in multi-family, retail and hotel development over the last half decade, McNair Interests is turning their real estate investments headlong into developing ageless residential developments through McNair Living.
"We launched McNair Living in early 2022 to build and invest in developments where people of every age and ability can live in community together," said Cary McNair, CEO of McNair Interests. "We've asked two of the most experienced executives in the industry to lead our McNair Living platform, with a focus to develop communities that encourage growth, engagement, and lifelong learning."
McNair Interests selected real estate entrepreneurs and senior living thought leaders, Ryan Haller and Les Strech, to lead McNair Living. With Americans living longer, healthier, and more active lives, traditional senior living environments seems to have lost all appeal. With pickleball courts across the country encircled by long lines of waiting participants and lifelong learning initiatives at universities in high attendance the desires of aging Americans have experienced a fundamental shift.
McNair Living has a multi-brand strategy that is led by their" Varcity" brand.
Varcity is developing intergenerational residential communities on or near university campuses with intimate university tie ins, including logo rights. Varcity developments allow alumni and local lifelong learning lovers to make the university campus home again and reengage in campus living through classes, sporting events and programmed mentoring opportunities for current students to tap into their wisdom. Varcity has Big Ten and SEC campuses for their inaugural projects scheduled to break ground in early 2024 that will expand into another half dozen campuses by 2026. McNair Living is headquartered on the University of Kentucky's campus, offering a daily reminder of the life and energy in a university environment that should benefit more than the 18–22-year-olds.
With the American awakening around Diversity, Equity, and Inclusion (DEI) in commerce, sports, and most every secular outlet, McNair Living is leading the residential awakening of age diversity on college campuses. For years, companies and educational institutions have ramped up their DEI efforts through more organized and measurable initiatives. Universities, however, have unintentionally become some of the most ageist residential environments in the country. The momentum that McNair Living is experiencing seems to be directly linked to them offering a tangible solution - changing the way we see aging by promoting architecture and programming that amplifies lifelong learning with a "what's next" type of mentality. Varcity's communities also engage a mutually beneficial relationship among their resident older adults, the university, and the students by emphasizing how older adults' life experience and knowledge can enlighten younger generations as well as the energy, comradery, and sense of purpose that students can bring to the Varcity residents.
The late Bob McNair, McNair Living's namesake, was a fervent believer in the value of lifelong learning and education, underscored by his quote in 2002 stating, "If you're going to have a satisfactory standard of living, you're going to have to be competitive in this world, and you can't be competitive if you don't have a good education." Bob and Janice McNair through their McNair Foundation have given millions of dollars to higher education across the country, including funding the McNair Scholars Program. Today, McNair Interests, a brand synonymous with thoughtful design, iconic properties, and modern sophistication, has a portfolio of current real estate assets under management of over $3 Billion with assets that include mixed-use, multifamily residential, hospitality, single-family, office, life science labs, industrial, and ranchland conservation assets.