Associated Bank Provides $29M Construction Loan for Senior Living Development in Bloomington, Minnesota

BLOOMINGTON, Minn. — Associated Bank has provided a $29 million loan for the construction of a 133-unit senior living development in Bloomington.

Dubbed ThePOINTE Bloomington, the independent living community is the second of a two-phase project on a 7.5-acre site. Phase I, currently under construction, is the 118-unit Cherrywood Pointe community that features assisted living and memory care.

ThePOINTE will rise five stories. United Properties is the developer.

Jim Vitt of Associated Bank handled the loan closing.