Truist Provides $50M for Bishop Gadsden Expansion in Charleston

CHARLESTON, S.C. — Truist Financial Corp., through Atlanta-based SunTrust, has provided $50 million in financing to support the renovation and expansion of Bishop Gadsden Episcopal Retirement Community on James Island in Charleston.

The funding will allow Bishop Gadsden to renovate existing assisted living facilities and construct a new 156,000-square-foot Health Care and Rehabilitation Center.

Renovations to the existing building will result in 81 one- and two-bedroom assisted living units. The new building will feature 32 memory care, 64 long-term skilled care and 32 short-term skilled post-acute rehab residences.

The project is scheduled for completion by January 2022.