Scottsdale-based Solterra Senior Living leased 1.93-acres at Third Avenue and Indian School Road in uptown Phoenix, with plans to build a 164-bed assisted living facility, according to Cushman & Wakefield.
The land where the facility will go is Located on the southwest corner of Third Avenue and Indian School Road in a vacant lot behind a QuikTrip gas station.
Solterra will be providing two services in the proposed development: assisted living and special services (higher acuity and memory care). The affordable units will be certified under Health Care Cost Containment System (AHCCCS), which is Medicaid for low income individuals, and the Veterans aids and attendants program for military seniors.
Will French, Scott Boardman and Brian Rosella of Cushman & Wakefield represented the owner, Cooper Companies of Scottsdale in the land lease.
“The site will attract prospective residents from this mixed use, mixed income area where pockets of low- and moderate-income housing exist among more upscale residences,” according to French. “It is also part of an evolving area where empty nesters and young professionals are moving-in to be part of the urban landscape.”
Solterra Senior Living manages, owns and operates assisted living and long-term care communities in Colorado and Arizona.
