UPPER ST. CLAIR, Penn. — Lifespace Communities has planned a $39.5 million assisted living and memory care expansion at Friendship Village of South Hills, a continuing care retirement community (CCRC) in the Pittsburgh suburb of Upper St. Clair.
Development
KeyBank Provides $16.3M in Financing for Construction of Affordable Community in New York
by Jeff Shaw
GEDDES, N.Y. — KeyBank’s Community Development Lending & Investment (CDLI) team will provide $16.3 million in financing to Christopher Community Inc. for the construction of Harborbrook Apartments, a mixed-income seniors housing development in the Syracuse suburb of Geddes.
SARASOTA, Fla. — Gardner Capital has received a reservation of housing tax credits from the Florida Housing Finance Corp. to fund the redevelopment of Amaryllis Park Place. The property is an 84-unit affordable seniors housing community in the Newtown area of Sarasota.
KALISPELL, Mont. — Ziegler, a specialty investment bank, has arranged a total of $65.4 million in tax-exempt, fixed-rate bonds for Immanuel Lutheran Corp., which operates a seniors housing community in Kalispell, approximately 75 miles south of the Canadian border.
DECATUR, Ga. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed a $44.2 million in construction and mini-perm financing for Solomon Holdings. The capital will be used to build The Holbrook of Decatur, a 200-unit seniors housing community in the Atlanta suburb of Decatur.