Developer Lands $16M Loan for Connecticut Project
- Sep 13, 2021
Senior Living Development (SLD) has secured $16 million construction financing for the development of KindCare at Bristol, a 60-unit senior housing community in Bristol, Conn.
Construction is set to start in October, with the project slated for an early 2023 delivery.
The developer received approval from the city’s Planning and Zoning Commission for their site plan in May of 2020. A few months later, SLD acquired the 1-acre parcel of land that had been sitting vacant for two decades.
KindCare at Bristol
Located at 483 N. Main St., within an Opportunity Zone in downtown Bristol, the five-story property will feature 89 assisted living and 28 memory care beds.
KindCare at Bristol will feature a common area, a main and several private dining areas, an arts and crafts area and a media room. The memory care component will have a separate dining area, an activity area and a courtyard.
The development is within walking distance of several dining options, roughly a mile from the Farmington Avenue retail corridor and less than 2 miles from Page Park. Bristol Health Medical Care Center and Bristol Hospital are within a mile of the senior housing project.
SLD is developing another assisted living community under the KindCare umbrella in Naugatuck, Conn., with construction set to begin next summer.
Recently, a partnership between Ryan Cos. and Grand Living Management kicked off the development of their 10th joint project. Grand Living at Wellen Park, a 192-unit senior housing community in Venice, Fla., will welcome residents in 2023.