DENVER — Ryan Cos. US Inc. and Cadence Living have unveiled plans for Acoya Cherry Creek, a seniors housing community in the Cherry Creek neighborhood of Denver.
Totaling 156,622 square feet and 137 units, the project will be the first Acoya-branded community in the Denver market and the third in Colorado. The types of care were not disclosed.
According to Moore Diversified Services, the senior population in the Denver area is expected to increase by more than 26 percent over the next five years.
“Not only is there a need for this type of housing near Cherry Creek, but there is also high demand for age-in-place living where a resident can remain within their home and receive services over time as needs change,” says Daniel Raimer, director of real estate development for Ryan Cos.
Cadence, Harrison Street and Ryan will co-own the community, and have closed on financing for the development. Bank of the West acted as lender, administrative agent and lead arranger alongside Stifel Bank as lender and syndication agent.
MOA Architecture designed the community’s exterior while StudioSIX5 handled the interiors. Groundbreaking is scheduled for February 2021, with pre-leasing beginning in spring 2022 for completion in fall 2022.