In addition to the full bath with the bedroom on the first floor, get a tub with a bench built in, or a shower stall where you don't have to step over a "lip."
Definitely sound-proofing. Old people lose their hearing and turn the tv up way too loud. Also, a mini fridge in his area if the kitchen is on a different floor so he can wake up in the middle of the night and have a midnight snack easily.
Make sure there's a system where you'll know if he's left a door unlocked, whether he's in or out of the house.
One thing to keep in mind is that older people tend to wake early, not be able to sleep through the night, and tend to want to eat dinner early. Like, super early. Like 5:30. My mother pushed my grandfather to 7:30 when my father got home from work but I think that was too late for him. I don't know why she didn't just give him his salad when he got hungry to tide him over (she refused to serve dinner until her husband (my father) was home from work).
Also, keep in mind that in our society we throw away our old people, but they're a wealth of practical advice - fights with friends, squabbles with neighbors, work problems - and love being asked for help. Sure they can't use an iPhone, but they will light up if you get your kids to ask about Grandpa's first job, being in the army, when he first fell in love, homework help, etc.
Even though my grandpa lived with us, I don't think he felt useful. I wish we'd EACH made a point of spending a little time with him each day, whether it was going out to help him wipe down his car (one of his favorite outdoor activities), come with us to run an errand, talk about classes we were taking, ask him for help studying, whatever. We could have done better.