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Financing for New Methodist Retirement Communities Project

Methodist Retirement Communities has secured $73.465 million in bond financing for the development of The Crossings, a new continuing care retirement community planned for 18.8 acres in League City, Texas, just southeast of Houston. The community will hold a groundbreaking ceremony next Monday, April 7. Once finished, The Crossings will include 116 independent living apartments, 36 assisted living units, 24 memory care suites and 48 nursing beds.

Development of The Crossings comes after MRC’s success with redevelopment of Crestview, its campus in Bryan, Texas. More than $7 million in pre-finance capital for The Crossings was raised using bond anticipation notes. Greystone is serving as development consultant. Ziegler served as underwriter.

See renderings and plans for The Crossings in the gallery below. Learn more about the community.

The Crossings 1

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The Crossings 4

 
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