New apartment development in Old Town Scottsdale will cater to seniors who enjoy urban living
Most apartments built recently in Old Town Scottsdale were made to cater to younger adults, but one Valley developer is trying something different: senior living.
“This is one of the first, what I’ll call urban, walkable, 55-plus retirement communities,” Randy Grudzinski, head of capital markets for Scottsdale-based Empire Group, said. “There are other really nice, 55-plus active adult and assisted living communities, but they’re all really a drive. This is a walkable, urban environment for someone who wants to live in Old Town.”
Empire Group is planning to redevelop a site at Scottsdale and Osborn roads into an age-restricted apartment complex that will include independent, or active adult, options, assisted living and a small portion of memory care units. An Olive Garden restaurant is currently on the site, but that is scheduled to close at the end of this year and development for the new project will start in the beginning of 2024, Grudzinski said.
Grudzinski called the corner “the perfect spot” for the development because of the nearby walkable amenities, and the location near the HonorHealth Scottsdale Osborn Medical Center.
"Old Town is the cultural, art and dining center of the Valley," Grudzinski said.
But so far, most of the housing is geared to a different demographic, he said.
"A lot that's been built there is for the millennial crowd," Grudzinski said. "By making it age restricted, we are giving them an option they don't have in a brand-new product in Old Town."
The project is the first for Empire Group in the senior and assisted living space, Grudzinski said. An arm of Empire Group is the developer of the planned Astra Project in downtown Phoenix, which aims to build the tallest tower in Arizona. The developer has built several other luxury apartments in downtown Phoenix, along with several single-family rental developments.
If the project were in another city, Grudzinski said, Empire might have chosen to develop a luxury apartment similar to its downtown Phoenix projects, but Empire, along with the Scottsdale City Council, agreed that building age-restricted apartments was a better use for the site.
Project received rare City Council approval
Other developments, especially apartments, in Old Town have been highly contentious, with the threat of a referendum leading the developer to withdraw plans for a mixed-use project along the canal in Old Town. Development was a crucial issue in the City Council election in 2022.
However, the council gave Empire unanimous approval of its project, and now the company is in the development review phase to finish design specifics and get final approvals before construction starts.
“The council recognized that there is a need for this,” Grudzinski said.
Most of the units in the complex will accommodate independent living, with traditional apartments and renters restricted based on age. About 119 units will house active adult renters. The facility also will include about 74 units of assisted living for those who need more assistance with daily tasks, and one floor of memory care, about 34 units, which will have some additional safety and security features, Grudzinski said. An independent operator called Cadence will manage the apartments.
The ground floor of the development will include about 10,000 square feet of commercial space, which could house restaurant and retail space.
Senior housing coming to high-end neighborhoods
High-end senior living and assisted living projects have popped up in some of the Valley’s desirable neighborhoods. In March, Clarendale Arcadia held its grand opening.
The high-end senior living facility, which also includes assisted living and memory care, is at 32nd Street and Camelback Road in Phoenix. That project, built by Ryan Cos., aims to give seniors an option to remain in a high-end neighborhood but move into an apartment suited to their needs.
Reach the reporter at cvanek@arizonarepublic.com. Follow her on Twitter @CorinaVanek.
This article originally appeared on Arizona Republic: Age-restricted apartments for older adults coming to Scottsdale
