The Wolff Company Breaks Ground on New Senior Living Community in Scottsdale
Revel Scottsdale sets new benchmark for senior living amenities in Washington as demand for quality senior housing options continues to outpace market-wide development
Scottsdale, Arizona (November 26, 2018) – The Wolff Company—a Scottsdale-based private equity firm and senior living developer—has broken ground on Revel Scottsdale, a new independent living apartment community at 8225 E. Indian Bend Road in Scottsdale. Characterized by celebrity chef-driven dining options, personalized amenities and spectacular spaces, Revel Scottsdale is expected to open in late 2020 and will set a new standard of quality and service in the senior living sector.
In 2017, the CBRE Senior Housing & Care Market report indicated that nationwide there had been a 50% decrease in new senior housing projects since the peak in 2015. This is problematic for Scottsdale, which according to the U.S. Census Bureau is part of the fourth-fastest growing metropolitan area in the United States.
“Nationwide, and in places like Scottsdale, there is an underserved and growing market of renters aged 55+ looking for a convenient, upscale, lock-and-leave lifestyle,” said Danielle Morgan, President of Clearwater Living, management partner at Revel Scottsdale. “Revel Scottsdale will give prospective residents a higher quality senior living option where choices have previously been limited.”
Once completed, the property will offer 157 studio, one-, and two-bedroom independent living residences. Built in the vicinity of the future Paradise Valley Ritz Carlton and near to Talking Stick Resort, Salt River Fields, and the McCormick Ranch Golf Club, Revel Scottsdale offers easy access to some of Arizona’s most high-value amenities. Additionally, the community boasts amenities unique to the Revel group, including a full-service salon and spa, an outdoor swimming pool, and a fitness studio. The lifestyle at Revel Scottsdale is further enhanced by celebrity chef-driven dining experiences including multiple restaurants with innovative seasonal menus from acclaimed chef and Food Network star, Beau MacMillan.
“This community will fill a gap in the market and set a new benchmark for senior living rental communities,” said Morgan. “Revel Scottsdale will offer the resort-style amenities and experiences that make resort-style living something to look forward to and celebrate.”
Revel Scottsdale is the 15th senior living community that The Wolff Company has developed since 2016. In 2018, the company has continued to broaden its portfolio of market-leading communities with plans to invest $300-$400 million annually in the development of new independent and assisted living communities, in addition to the purchase and renovation of existing communities.
About The Wolff Company
The Wolff Company is a private equity firm headquartered in Scottsdale, Arizona, with offices in Washington, Massachusetts, and California. For more than six decades, Wolff has invested in, acquired and developed high-quality, amenities-based multifamily properties. For more information about The Wolff Company, visit awolff.com.
About Clearwater Living
Clearwater Living is committed to providing the most superior customer service and living experiences that celebrates individual relevance, from our residents and their families to our family of associates. Clearwater is growing through strategic acquisitions, development and operational management of senior living communities throughout the western United States. Every Clearwater Living community includes cutting-edge technologies and care practices that improve the daily lives of residents. To learn more about Clearwater Living, visit ClearwaterLiving.com.
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