Greystone is pleased to share that Village on the Isle achieved long-term financing for its independent living expansion of its campus in Venice, FL. The successful closing included $78,225,000 of Series 2024A and 2024B bonds issued through the City of Venice, FL and underwritten by B.C. Ziegler and Company.

Village on the Isle is a faith-based, not-for-profit Life Plan Community on the barrier island of Venice, FL, originally incorporated in 1979. They are affiliated as a social ministry with the Evangelical Lutheran Church in America and Florida-Bahamas Synod. Village on the Isle is situated on approximately 16 acres and currently consists of 234 independent living units, 48 assisted living units, 16 memory care units, and 64 private nursing beds.

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Village on the Isle engaged Greystone in 2023 to provide development consulting services during the planning, development, and marketing services related to the expansion. This expansion will add 54 new independent living units to the campus in the form of two five-story buildings, “Emerald Terrace – Tides” and “Emerald Terrace – Islands”. The expansion will also include a new Wellness Center, to be known as “The Core,” that will feature an indoor pickleball court, spa and sauna, professionally branded restaurant and bar, and outdoor zero-entry pool.

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Presales began in September 2024 and the expansion project is 87% presold as of writing. Village on the Isle achieved presales 4 months ahead of schedule, allowing for an accelerated December 2024 financing. First occupancy of the expansion is anticipated in August 2026.