Blog

Summit Closes Financing for Senior Community

Summit by Morrison recently closed on nearly $25 million in financing with the U.S. Department of Agriculture Rural Development for an 83-unit senior living community in Whitefield.

Summit secured two low-interest loans from a USDA program that partners with municipalities and nonprofits.

Summit by Morrison broke ground in September 2016 and it completed construction of 14 independent living cottages in December.

It expects construction on Summit House, the main campus building with 33 independent living apartments, 24 assisted living apartments and 12 memory care studio units to be completed within the next few months.

Leave a Reply

Your email address will not be published. Required fields are marked *