We wrote last week of a major seniors housing development in the works on the campus of SUNY Purchase in Westchester County, New York (one that is estimated to cost upwards of $320 million when all is said and done), but a similar project on the campus of Arizona State University just completed construction.
Mirabella at ASU is a not-for-profit CCRC with 246 units of independent living and 52 health care units, as well as a host of luxury amenities in the sleek, 20-story building. Some of those features include an indoor pool and wellness center, physical therapy gym, theater, art museum, event and lecture hall, game rooms, salon and spa, dog park, valet and underground parking, and four restaurants, including a ground-floor bistro that will eventually be open to the public. We’re sure a number of ASU students will be jealous of that array. Residents will also be able to take classes and have full access to the university campus’ own amenities.
The project has been in the works for five years and cost an estimated $252 million, or $845,600 per unit. Not quite the $1.5 million per unit mark of the Westchester development mentioned last week, but quite high for seniors housing nonetheless. Residents began moving into their apartments in December and will continue to do so throughout the Spring, at a pace of four units a day. Pacific Retirement Services and University Realty developed the property, with McCarthy Building Cos. handling the construction and Ankrom Moissan Architects the design. Looks like CCRCs are here to stay.
