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OVERLAND PARK, Kan. — HJ Sims has arranged $60.6 million in financing for the expansion and renovations of Village Shalom, a continuing care retirement community (CCRC) in the Kansas City suburb of Overland Park.
The expansion will add 76 independent living units and 25 assisted living/memory care units. The project will also relocate and enhance the rehabilitation center and therapy gym. The first floor of the new building will offer common spaces and new amenities.
The financing package includes a combination of bonds and bank financing. The bank financing will be repaid with entrance fees for the new units as well as proceeds from a capital campaign.