Scottsdale-based Acanthus Development, which was formed this year to build senior living communities on Catholic church campuses across the country, plans to build its first five projects in the Phoenix metro area.

Total development costs for the five projects range from $235 million to $250 million.

The Roman Catholic Diocese of Phoenix has approved five land leases on five of its Valley parish 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 will be built on the St. Benedict Catholic Church campus in Ahwatukee, with construction expected to begin in April 2025.

Read the rest of this story in the Business Journal.