FORT WORTH, Texas (AP) — The largest assisted-living facility for Medicaid recipients in Texas will close after years of budget deficits and as residential developers clamor for real estate in the nation's seventh fastest-growing city.

The Westchester Plaza, a 12-story property at the center of Fort Worth's medical district, has operated as an assisted-living facility for the elderly since 1998. The nonprofit owner and management company, WGH Heritage Inc., told the 117 low-income, disabled elderly residents Monday that they had until August 10 to find a new place to live.

Tax filings show that the company has reported multi-million-dollar deficits since 2013.

The Texas Department of Aging and Disability Services has staff on site to monitor the facility's closure.