july 16, 2024

New senior housing coming to St. Francis despite tough lending environment

Brian Johnson, Finance & Commerce

The Vista Prairie at Eagle Point Senior Living Community is moving forward thanks to financing sources that include tax-exempt loans and C-PACE - a public-private structure that rolls loan payments for energy-efficiency upgrades and clean-energy improvements into property taxes through a special assessment.

The project, developed by Maplewood-based EDI, will create 59 independent living, 43 assisted living, 24 memory care and eight "care sutie" homes on a roughly 17-acre site at 23440 Ambassador Blvd. NW in St. Francis. Bauer Design Build is the builder and Pope Architects has design duties.