A new and upscale $46 million senior living community that will feature nearly 200 apartments of varying sizes is currently in the planning stages in Chandler, Arizona.
A joint partnership between Cadence Living, a senior living developer, and the San Diego-based Global Senior Housing, the project will also include an art studio, theater, fitness center, swimming pool, and both restaurant and bistro-style dining.
Cadence, based in Scottsdale, and Global Housing have purchased for $3.2 million nearly 8 acres of land in the 100 block of W. Queen Creek Road for the project.
What is being called the Cadence at Ocotillo will be the fourth senior living community developed by Cadence Living in Arizona. The company also has complexes in California and Colorado.
In a statement, Eric Gruber, a principal at Cadence Living, said the company’s emphasis on offering a variety of amenities has been a planned strategy to “fill a gap in the market by offering seniors a lifestyle-focused community.”
In keeping with that strategy, the Cadence at Ocotillo will additionally include walking paths and raised garden beds.
Cadence’s focus on Arizona’s senior market comes in the wake of Census Bureau statistics showing the state as having one of the highest percentage of residents aged 65 years or older in the country.
With a national above-65 population percentage of 14.1 percent, Arizona’s senior population is now at near 16 percent.
Work on the Chandler project, which will be designed by the architectural firm of Whitneybell Perry, also of Chandler, is expected to begin later this fall.
By Garry Boulard
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