PORTLAND, Ore. — Ziegler has arranged $154.6 million in bond financing for Terwilliger Plaza, a continuing care retirement community in Portland.
The Hospital Facilities Authority of Multnomah County, Oregon, issued the bonds, which will fund an expansion project.
Terwilliger Plaza, incorporated in 1958, currently features 246 independent living apartments, 43 assisted living apartments and 22 residential care beds. The independent living apartments are located in two buildings: a 12-story apartment building known as The Tower, and a ten-story apartment building known as The Heights. The Tower is adjacent to a single-story residential care facility known as Metcalf and attached by common areas to a four-story assisted living building known as the Terrace.
The Parkview expansion will consist of 127 independent living units including 106 two-bedroom units and 21 one-bedroom units ranging in size from 1,125 square feet to 2,305 square feet.
The new units are designed to meet Passive House and Green Bond designations for sustainable construction.