Bethesda Senior Living Breaks Ground in Colorado, Buys Community in Texas

by Jeff Shaw

MONUMENT, Colo. and FRISCO, Texas — Bethesda Senior Living Communities, a Colorado Springs-based nonprofit developer and operator, has broken ground on Bethesda Gardens Monument, a 60-unit assisted living and memory care community in the Colorado Springs suburb of Monument.

The $13 million development is part of a $27 million financing package that also included the acquisition of Rambling Oaks Courtyard, an 80-unit assisted living community in Frisco.

Bethesda will rebrand the Texas community as Bethesda Gardens Frisco. The site also features developable acreage around the existing building. Bethesda plans to expand services at the community.

The Colorado project is the first ground-up construction for Bethesda in more than 15 years, and will be the first seniors housing community in Monument, according to the developer. Bethesda expects to complete construction in fall 2017.

The architect on the Colorado project is Lantz-Boggio Architects of Denver. Brinkman Construction of Fort Collins will provide construction services, and Compass Bank of Denver provided financing.

With the two new projects, Bethesda now operates 18 seniors housing communities in Arizona, Indiana, Nebraska, Missouri, Colorado and Texas. 

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