Presbyterian SeniorCare to start construction on new senior living
June 4, 2020
Paul J. Gough
Pittsburgh Business Times
Through its subsidiary Encore Living Group Inc., the four-story, 80-unit facility will be built on 6.8 acres of land off McDowell Lane donated years ago by Ed Ryan of Ryan Homes for just such a purpose. The project was approved by North Strabane Township about two years ago and, just this week, the Washington County Industrial Development Authority gave the green light for Encore and Presbyterian SeniorCare to borrow $32 million at a tax-exempt interest rate.
Now with that approval and financing from F.N.B. Corp. and Washington Financial, Presbyterian SeniorCare can make the dream a reality, said Jim Pieffer, SVP of Presbyterian SeniorCare.
Clearing of the land occurred last month and the latest timeline is for an 18-month development that will allow the facility to open in the fall of 2021, Pieffer said.
The mix of one- and two-bedroom units, all with balconies, will have access to common spaces and opportunities for health and wellness and other activities. The building will overlook Canonsburg Lake and is close to both the commercial sector of Peters Township and McMurray as well as, a little further away, the existing facilities of Presbyterian SeniorCare in Washington County and access to Route 19 and Interstate 79.
"It's a great opportunity for independent seniors and we love the idea of making the original dream of Ed Ryan so long ago come true," Pieffer said. Presbyterian SeniorCare is working with a partner, Senior Housing Partners, that has developed middle-income senior properties around the country.
Diane Irey Vaughan, chair of the Washington County Board of Commissioners, praised Presbyterian SeniorCare for their investment.
"We are excited to support their expansion in Washington County and increase the care and service options for older adults in our community," she said. "It is also extremely encouraging for the economic development and job creation opportunities for our economy."
The Washington County Industrial Development Authority bond note isn't funding for the project, as the note will be paid back by Encore.
"This action allows the WCIDA to serve as a conduit for Encore Living Group Inc. to borrow the money at more favorable terms, which in turn provides them with more flexibility to carry out their mission of providing safe and secure housing for our senior population," said Washington County Chamber of Commerce CEO Jeff Kotula.