PROJECT NAME: United Helpers Canton Nursing Home
LOAN PROGRAM: 232 Replacement Project
LOAN AMOUNT: $17,745,100
PROJECT TYPE/SIZE: 96-Bed Skilled Nursing Facility & 48-Bed Assisted Living Facility
Century provided a $17,745,100 HUD-insured mortgage loan for the construction of United Helpers Canton Nursing Home, a new 96-bed skilled nursing facility and a 48-bed assisted living facility, via HUD’s Section 232 program. The project also included $9,600,000 of HEAL grant funds in which Century successfully obtained a waiver from HUD in order to accommodate the specific flow of funds between mortgage and grant proceeds.