August 7, 2019
FOR IMMEDIATE RELEASE: Astoria Healthcare Properties, LLC (AHP) develops its first senior living facility in Phoenix
The Retreat of Alameda will be the first senior living facility for Astoria Healthcare Properties, who has typically developed ambulatory surgery centers, surgical specialty hospitals, and medical office buildings.
The assisted living and memory care facility consists of approximately 93,000 SF with 72 apartments for assisted living, and 38 memory care apartments in a separate, secured setting.
“Adding senior living as a product type is a natural extension for us. Our expertise is developing healthcare facilities with the goal of providing higher quality care at a lower cost. Not only is the demand for senior living increasing, but the ability to provide a product that provides quality care at an affordable price is in greater demand," said John Foudray, Astoria Healthcare CEO.
Amenities include a full kitchen and private dining room with wood slat ceilings, contemporary café/pub, theater, therapy room, fitness center, salon/barber, multi-activity room, lounge, and outdoor courtyards. A looped walking path is connected to a central outdoor atrium, giving residents the opportunity to be outdoors on their own. The entire facility will be steel-framed and have an emergency generator system.
The facility, designed by triARC Design, provides a fresh take on traditional senior living, focusing on the current generation of design-savvy seniors who appreciate a more contemporary aesthetic.
"The design story revolves around how different people approach the concept of “retreat, ” said Jon Hanna, triARC Design senior project manager. "Each space gives a different way to retreat; to wander, to contemplate, to be vibrant, and to decompress."
The Retreat at Alameda will be managed by Paradigm Senior Living, a national provider of management services to the senior housing industry. Paradigm has assisted in the operation of more than seventy senior living communities, totaling 8,500+ living units, valued at more than $1B.
The project is located in northern Phoenix, at 1920 W. Alameda Rd., an area currently undergoing rapid residential development. Construction on the project is scheduled to commence in September with completion in March 2021.
About Astoria Healthcare Properties: Astoria Healthcare Properties, LLC is located in Leawood, Kansas and is owned by Nueterra Capital, a private equity company investing in healthcare and technology companies.