Amid a boom in continuing care projects, Life Care Services, of Des Moines, has broken ground on its new Sagewood project in northeast Phoenix. The $283 millionconsists of independent living, assisted living, memory and nursing care units.
Sagewood's first phase features casitas, villas, lofts and apartment homes ranging from 760 to 2,350 sq ft. It is 90% sold with pre-sales of 181 homes since January 2007. Sales were recently opened for phase two, which features 113 homes. The resort-style community features programs that focus on fitness, nutrition and overall well being.
Demand for the upscale project has been strong, according to Rich Seibert, vice president of corporateat Life Care Services. “This project is filling the needs of the buyer who wants a high level of amenities, programming and services.”
Entrance fees at the community average about $600,000. Located near the Mayo Clinic, the 104-care Sagewood project is adjacent to affluent Scottsdale. Seibert expects Sagewood's first phase to open in April 2009.