Greystone is pleased to share that Fairview closed on the Bond Anticipation Notes (BANs) financing for its expansion project, Vista Point at Fairview, on its campus in Groton, CT. The $7,500,000 BANs financing was issued through the State of Connecticut Health and Educational Facilities Authority and underwritten by B.C. Ziegler and Company. Last year, Fairview closed on a financing with its long-time partner, Chelsea Groton Bank, that included approximately $4.9 million to fund a portion of the pre-construction development costs for the Vista Point project. This BANs financing covers the balance of the pre-construction development costs.  

Established in 1892 by the Connecticut Independent Order of Odd Fellows Grand Lodge, Fairview has a more than 130-year history serving seniors in the southeast Connecticut region. Located on approximately 70 acres along the Thames River in Groton, CT, Fairview currently offers 40 independent living cottage homes (Thames Edge), 20 independent living apartments (Fellowship Manor), and 100 skilled nursing beds.

Fairview partnered with Greystone in 2023 to assist in the preparation and execution of a business plan that continues the transformation of the organization from a nursing-centric business model to a modern life plan community.

The Vista Point at Fairview project is the third phase of a transformation that began in 2014 with the construction of the first phase of Thames Edge cottage homes. Vista Point at Fairview will be located on approximately 20 undeveloped acres on the campus and will consist of 193 new independent living homes, 175 in the Vista Point apartment building and 18 in the Horizon House hybrid home; 42 assisted living apartments and 28 memory support assisted living apartments; as well as new common areas and support spaces. The Vista Point commons will feature multiple dining venues with views of the Thames River and Long Island Sound, an auditorium, indoor pool, golf simulator, and more.

Fairview will begin presales in April 2025 and construction is expected to begin in late summer 2026.