Construction is underway for a $107.652 million expansion at the resort-like senior living community, Sagewood, near the Musical Instrument Museum at 4555 E. Mayo Blvd., in Phoenix.
The expansion will add 24 estate homes, an additional assisted living facility, and an event center to the community while doubling parking, according to Stewart Ingram, executive director of Sagewood.
The estate homes will consist of luxury single and duplex-style casitas and villa homes ranging from 1,926 to 3,174 square feet with open floor plans. Sagewood recently secured the $107.652 million for the expansion in financing, according to the announcement.
A ground breaking event for the expansion is planned for Wednesday.
Sagewood is currently a 292-residence, luxury senior living community. It includes two clubhouses and an on-site health center, Acacia Health Center, which was recently doubled in size after a $13.2 million expansion. The community focuses on empowering residents to improve their health by adopting an active lifestyle.
The planned 13,000-square-foot event center will be developed to host concerts, lecture series and workshops. The added assisted living building will be two stories with 44 apartments that will connect to the on-site health center.
A secured gated entrance will be added to the main entrance and the secondary access point into Sagewood. The expansions will also further add to the parking and the community’s main dining room.
“Sagewood has experienced phenomenal growth since opening just over seven years ago, and we’re excited to introduce these important additions to the community and receive such strong interest from future residents,” Ingram said.
Last year, Sagewood secured 95 percent occupancy for the community with 81 gross sales for the year. The Sonoran Desert serves as a backdrop to the community, which is located right next to the Musical Instrument Museum.