By Adelina Osan, Associate Editor
New Orleans—A $29.2 million loan was recently granted to Covington Senior Care Services for the construction of an assisted living and memory care community nearby New Orleans. Preston Hollow Capital with the Louisiana Public Facilities Authority completed the senior bond financing.
Proceeds of the loan will fund the construction of Inspired Living at Kenner, the assisted living and memory care community. The new development’s location is in Kenner, a suburb of New Orleans.
Inspired Living at Kenner is a 127-unit, three-story planned facility comprising approximately 105,000 square feet. Residents here will have access to a list of amenities including a swimming pool, spa and bathing rooms, mini golf area, gazebo, tiki hut, fire pit, reflection ponds and walking paths.
“Inspired Living at Kenner will be the premier senior housing community in its market, and we’re proud to be the main source of financing for the project. This distinctive community is one of several being constructed by the Inspired Living Group in collaboration with the National Football League Alumni Association to provide assisted living and memory care services for former NFL players and other persons in need,” said in a prepared statement Ramiro Albarran, managing director of Preston Hollow Capital.
Construction is underway and is scheduled to be completed in March 2017. Validus Senior Living will manage the property.
Image courtesy of Preston Hollow Capital