BFA Approves Bonding for Assisted Living Facility
New facility in Londonderry will result in nearly 100 new jobs.
June 12, 2020 – The New Hampshire Business Finance Authority (BFA) has received unanimous approval from the New Hampshire Governor and Executive Council to issue a bond in the amount of $25,000,000 to Baldwin Senior Living, a 501(c)(3) seeking to develop a new facility in Londonderry. Proceeds of the bond will be used in the pre-construction phase to fund land acquisition, design and site work.
“The Baldwin,” will be located in a new planned, 80 acre, mixed-use, retail and residential development called Woodmont Commons. “The Baldwin” will consist of 190 independent living units, 40 assisted living/memory care units along with common areas for seniors 62 and older. The campus will be located in the Main Street area of the Woodmont Commons and will be surrounded by restaurants, entertainment, retail and green spaces all within walking distance for residents.
“The BFA is pleased that this bond issuance will help provide housing for our seniors and create quality jobs in the area,” stated James Key-Wallace, Executive Director of the New Hampshire BFA. “This is a substantial facility with a company that has a proven track record of strong operations in other states and we are pleased they have decided to build up their operations in New Hampshire. The facility will enhance the landscape in this new Londonderry development and offer housing opportunities for New Hampshire residents.”
It’s anticipated that construction on “The Baldwin” facility will be completed and ready for occupancy in the fall of 2022. These bonds do not use taxpayer dollars. Neither the BFA nor the State of New Hampshire are liable for the repayment of the bonds.
About the NHBFA
The Business Finance Authority (BFA) was created to foster economic development and create employment in New Hampshire. The BFA accomplishes these objectives by working with New Hampshire’s banking, business, and economic development sectors to develop and implement programs which expand the availability of credit in the state. Our customers include manufacturers, small and medium-sized businesses, health providers, and non-profit educational and cultural organizations.
For more information about the BFA, please contact Tiffany Eddy at 603-657-6471 or firstname.lastname@example.org