Construction has begun of Acoya Shea, a $64m luxury senior living community in central Scottsdale of Arizona.
For this project, Cadence Living, Harrison Street and Ryan formed a joint-venture team.
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Financial closure was achieved in June 2021.
The 197,000ft2 project, located on 2.55 acres near the intersection of Scottsdale Road and Shea Boulevard at 7373 E. Shea Boulevard, will feature 147 studio, one- and two-bedroom independent, assisted living and memory care residential units.
Acoya Shea will provide amenities and services including several indoor and outdoor dining venues, a private courtyard with a fireplace and swimming pool, movie theater, salon and barbershop, fitness studio, cocktail lounge, underground parking garage, outdoor pet area as well as a memory care garden, tele-medicine room and a massage and physical therapy room.
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The four-story project will feature four wings that conjoin to a two-story great room that has a large outdoor living area.
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By GlobalDataCadence Living principal Eric Gruber said: “Now more than ever, seniors are demanding an active, healthy, and creatively engaging lifestyle.
“By adding Acoya Shea to our family of communities, Cadence and Ryan are responding to those seeking the elegance of a modern community with luxurious amenities in a desirable location.”
Each unit will have a full-kitchen, living area, a patio or balcony, washer and dryer, walk-in shower and a 24-hour emergency line.
Ryan Companies real estate director Daniel Raimer said: “Senior living communities have evolved tremendously, and Cadence Living understands that.
“Through our partnership with Cadence Living, we’re creating an innovative place for seniors to age-in-place. This allows residents to remain in their home even as their healthcare needs change, which is important for residents and their families.”
Acoya Shea is the ninth community for Cadence Living in Arizona, and the fourth community to be developed along with Ryan.
Construction is expected to complete in Q2 2023.
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The 197,000ft2 project is located on 2.55 acres near the intersection of Scottsdale Road and Shea Boulevard. Credit: Ryan Companies US, Inc.
