The familiar 4-story concrete structure at the NEC of 32nd St. and Glenrosa Ave. in Phoenix, originally intended for luxury condos, is soon to become a $25M assisted living and memory care community.
An Information Center will open on the site in mid-April 2013, with doors opening to residents in October 2013 under the name MorningStar at Arcadia.
Redevelopment of the property is being completed by a joint venture among RED Group, LLC, a Scottsdale-based developer of senior living communities; MorningStar Senior Living, LLC, a Denver-based senior living developer and operator; and Phoenix-based ArciTerra Group, LLC, the current property owner.
An estimated 70-90 direct jobs and 150 indirect jobs will ultimately be created by MorningStar at Arcadia. The architect for MorningStar at Arcadia is Rich Barber of ORB Architecture; the interior designer is LuAnn Holec of Thoma-Holec Design, both Phoenix-based firms.
Construction on the existing structure stopped several years ago when the local condo market saw a significant downturn. The new assisted living community is RED Group’s fourth senior living development in Arizona, and features 80 suites for assisted living and 30 suites devoted to individualized care for residents with Alzheimer’s disease and other memory impairments. It will be MorningStar Senior Living’s first property to manage in Arizona.
“Maricopa County’s 75-plus population is forecasted to increase at an annual compounded rate of 2.16% (compared to 1.80% for the population as a whole),” said Gregory Hogan, managing principal of RED Group. “And those seniors increasingly want hassle-free retirement living with resort-style amenities. First-class communities like MorningStar at Arcadia are designed to meet and exceed these lifestyle demands. With existing communities in this market at near capacity, we are proud to anticipate filling an important need in Phoenix.”
With the concrete and steel superstructure already in place, MorningStar at Arcadia will soon provide studio, one-bedroom and two-bedroom suites ranging from 347 SF to 1,280 SF. In addition to personalized care with the activities of daily living, residents will also enjoy three chef- prepared meals per day in restaurant-style dining rooms and bistros, health and wellness facilities, planned activities and outings daily, movie theater, 24-hour staffing, underground parking, weekly housekeeping and linen service, concierge, scheduled transportation and beauty salon.
“The Arcadia and Biltmore areas of Phoenix have established, growing populations of seniors wanting quality choices for retirement living,” said MorningStar’s CEO, Ken Jaeger, “and MorningStar at Arcadia will serve that need, allowing seniors to stay in their neighborhood, close to family and friends. Our homes are acclaimed for their graciously-appointed spaces that foster community, a place where residents can thrive spiritually, physically, intellectually, socially.”