As Connecticut’s population ages, the need for high-quality senior living options continues to grow. Meeting that demand requires access to affordable financing that allows nonprofit organizations to invest in their future while continuing to serve their communities.
In collaboration with Ziegler, CHEFA issued tax-exempt bond financing, to support the advancement of Fairview’s the Vista Point expansion project in Groton, CT. This project will help increase housing and care options for older adults across southeastern Connecticut.
Bond proceeds will support the development of 193 independent living residences, 44 assisted living residences, and 28 memory support residences on Fairview’s campus. The financing will also refinance existing debt, strengthening Fairview’s long-term financial position and providing greater flexibility to support future growth.
The expansion is designed to meet the evolving needs of today’s seniors by creating a broader continuum of care within a single community. New independent living residences will provide residents with opportunities to enjoy an active, maintenance-free lifestyle, while expanded assisted living and memory support services will ensure access to higher levels of care when needed.
The transaction also highlights the broader value of CHEFA financing for Connecticut nonprofits. By providing access to cost-effective, tax-exempt financing, CHEFA helps organizations fund critical capital projects, expand services, modernize facilities, and refinance existing debt to improve long-term financial stability.
For many nonprofits, affordable access to capital can be the difference between postponing a needed project and moving it forward. CHEFA’s financing support helps organizations make strategic investments that strengthen their missions while positioning them to meet growing community demand.
At Fairview, that means expanding senior living options today while building a stronger foundation for tomorrow. As communities across Connecticut continue to evolve, projects like Vista Point demonstrate how tax-exempt financing can help nonprofit organizations grow responsibly, strengthen operations, and deliver the services Connecticut residents rely on for years to come.