Scottsdale-based Acanthus Development, which was formed this year to build senior living communities on Catholic church campuses around the country, plans to build its first five projects in metro Phoenix.
Total development costs for the five projects range from $235 million to $250 million.
The Roman Catholic Diocese of Phoenix has approved five ground leases on five of its Valley church campuses, where Acanthus will develop and manage each senior housing community. The facilities are expected to average 150 rooms and offer independent living, assisted living and memory care units.
The first one will be built on the campus of St. Benedict Catholic Church in Ahwatukee, with construction expected to begin in April 2025.
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