McGrew Properties to Convert Vacant Nursing Home to Independent Living Using Affordable Housing Grant

by Jeff Shaw

HOT SPRINGS, Ark. — McGrew Properties will convert a long-abandoned skilled nursing facility in Hot Springs into a 25-unit independent living community with the assistance of a $224,000 affordable housing grant.

The community will be named Rose Villa Senior Living. The Federal Home Loan Bank of Dallas (FHLB Dallas) and BancorpSouth Bank provided the grant funding.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions such as BancorpSouth Bank.

McGrew Properties is a real estate developer based in Hot Springs.

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