BRISTOL, Conn. — Senior Living Development LLC has arranged $16 million in construction financing for KindCare at Bristol, a middle-market, 117-bed assisted living and memory care community.
Situated on a one-acre parcel in downtown Bristol, the community is the first of a rollout for KindCare Assisted Living, specializing in bringing assisted living and memory care to the middle class.
This urban model utilizes a smaller footprint for the 60,000-square-foot community to drive down costs without sacrificing any amenities, services or quality. Rates average 20 percent less than luxury assisted living, according to the developer. The project is also taking advantage of the tax benefits of a Qualified Opportunity Zone.
KindCare at Bristol will comprise 89 assisted living beds and 28 memory care beds, with the community residing near several medical facilities including the new Bristol Hospital Medical Center, Bristol Hospital and additional planned developments over the next few years.
KindCare has secured the building permit for a planned construction start in October and opening in early 2023. It has also purchased and entitled another project site in Naugatuck, slated to start construction next summer.