Cushman & Wakefield announced today that Solterra Senior Living of Scottsdale, Ariz. leased 1.93 acres at 3rd Avenue and Indian School Road in Phoenix.
Will French, Scott Boardman and Brian Rosella of Cushman & Wakefield represented the owner, Cooper Companies of Scottsdale.
Located on the southwest corner of 3rd Avenue and Indian School Road, Solterra Senior Living plans to build a 164 bed assisted living facility. 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.
“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.