ORO VALLEY, Ariz. — Ziegler has arranged bond financing for La Posada, a continuing care retirement community (CCRC) owner in metro Tucson.
La Posada was incorporated in 1996 to acquire the CCRC known as La Posada at Park Centre in Green Valley, approximately 30 miles south of Tucson. Originally constructed in 1987, Park Centre has grown to include 490 independent living apartments, 34 freestanding Park Centre homes, 17 freestanding Pavilion homes and 135 assisted living apartments.
La Posada at Pusch Ridge will be the second location for this emerging system and will be constructed in phases on approximately 80 acres in the town of Oro Valley, just north of Tucson and approximately 100 miles south of Phoenix.
Construction of Pusch Ridge is now underway, and the first independent living apartments are scheduled to open in May 2025. This new community is initially expected to consist of 166 independent living apartments with campus common areas (Phase I of the project). Phase II is scheduled to commence after stabilization of Phase I, and will include 24 assisted living apartments and 24 memory care suites.
The Industrial Development Authority of the County of Pima issued the tax-exempt, fixed-rate bonds for the construction of the new community. The amount of the financing was not disclosed.
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