CHEFA Closes $7.5 Million Financing to Advance Fairview’s Expansion
CHEFA is proud to announce the closing of a $7.5 million financing for Odd Fellows, operating as Fairview, Fellowship Manor, and Thames Edge at Fairview, marking a major milestone in the organization’s ongoing growth and service to Connecticut’s senior community.
Located on a scenic 70-acre campus along the Thames River in Groton, Connecticut, Fairview is a licensed Continuing Care Retirement Community (CCRC) providing skilled nursing, post-acute rehabilitation, long-term care, and independent living options. The campus includes a 100-bed Medicare and Medicaid-certified skilled nursing facility, 20 CCRC-licensed apartments at Fellowship Manor, and 40 entrance-fee cottage-style homes at Thames Edge.
The newly closed $7.5 million in CHEFA financing will serve as the final piece of seed capital needed to launch Fairview’s highly anticipated Phase III expansion—The Vista Point at Fairview. This transformative project will be constructed on approximately 20 acres of currently undeveloped land and will offer new and enhanced living options for residents in a vibrant, community-centered setting.
Project Highlights Include:
- 175 new independent living apartments and 18 cottages with shared common areas and amenities;
- 42 new assisted living units and 28 memory support assisted living units;
- Renovation of the existing Fellowship Manor building;
- Demolition and relocation of existing buildings to make way for new development;
- Conversion of an existing apartment building into a dedicated sales office.
This expansion is not only a testament to Fairview’s commitment to senior care but also a reflection of CHEFA’s role in enabling innovative, mission-driven projects that enrich lives and communities across the state.
The $7.5 million financing builds upon the earlier Series 2024 A & B bond issues—also facilitated by CHEFA and placed directly with Chelsea Groton Bank—which provided $21.6 million to refinance Fairview’s outstanding debt and supply the initial $4.6 million in seed funding. Fairview anticipates securing permanent financing through a planned Series 2026 issue, bringing the total project cost to nearly $215 million.
CHEFA is proud to support this visionary project, which will significantly enhance senior living options in Connecticut and further strengthen Fairview’s role as a trusted provider of comprehensive, compassionate care.
