Acoya Shea, a $64 million luxury senior living community, is now under construction in the heart of central Scottsdale, Ariz. Cadence Living, Harrison Street and Ryan formed a joint-venture team for this project, which financially closed in June 2021.
The 197,000 square-foot luxury senior living community, located on 2.55 acres near the intersection of Scottsdale Road and Shea Boulevard at 7373 E. Shea Boulevard, will provide 147 studio, one- and two-bedroom independent, assisted living and memory care residential units.
Designed to offer an exceptional living experience for seniors seeking a vibrant lifestyle, Acoya Shea will feature amenities and services including multiple indoor and outdoor dining venues with farm-to-table meals, 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 dedicated massage and physical therapy room. The four-story community will include four wings that conjoin to an elegant two-story great room with a large outdoor living area, ideal for seniors seeking an active, healthy, and social lifestyle.
“Now more than ever, seniors are demanding an active, healthy, and creatively engaging lifestyle,” Eric Gruber, principal with Cadence Living. “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 residence will include a full-kitchen, comfortable living area, a patio or balcony, washer and dryer, walk-in shower and a 24-hour emergency line. Located next to high quality restaurants and coffee shops, residents will enjoy easy access to all Scottsdale has to offer, creating an opportunity to indulge in a full urban infill experience with artistic, intellectual, social and entertainment programing arranged through Cadence’s red carpet concierge services.
“Senior living communities have evolved tremendously, and Cadence Living understands that,” said Daniel Raimer, director of real estate development, Ryan Companies. “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 Cadence Living’s ninth community in Arizona, and the fourth community to be developed in partnership with Ryan. Ryan designed the new luxury senior living community and is also the builder. Construction is expected to complete in quarter two of 2023. This project will create approximately 100 permanent jobs and construction will generate approximately $6 million in job wages.