Fox Run at Orchard Park Announces the Sale of Almost $80 Million of Bonds
Construction to begin on 52-acre Lifecare community; bringing jobs and revenue to Erie County.
Orchard Park, NY (PRWEB) May 15, 2006
Fox Run at Orchard Park (www. foxrunorchardpark. com), a Lifecare Retirement Community dedicated to providing active seniors the freedom to enjoy a full array of lifestyle enhancements, announced today the sale of almost $80 million of Series A and Series B bonds. The fixed-rate and extendable bonds were issued by the Erie County Industrial Development Agency and underwritten by Ziegler Capital Markets Group, a widely recognized leader in senior living finance.
The bonds will fund the acquisition, construction and equipping of the Fox Run at Orchard Park project, which involves the acquisition of a 52-acre parcel of land at the corner of Big Tree Road (Route 20-A) and California Road; the construction of 180 independent-living units, 51 enriched-housing units and 50 skilled-nursing units, along with community buildings, infrastructure improvements, landscaping and the acquisition and installation of personal property.
“In raising almost $80 million, we are now prepared to move forward with the next phase in the development of one of the finest Lifecare communities in New York State,” said Christina M. Abt, director of Marketing for Fox Run at Orchard Park. “We know our residents our eagerly anticipating the completion of construction, which will bring hundreds of jobs and millions in revenue to Erie County.”
The construction of Fox Run will have am estimated $78 million impact on Erie County, and result in the creation of almost 150 jobs. Once the Lifecare community opens its doors, it will have a projected $26.5 million impact on Erie County annually and create 250 new jobs in the area.
About Fox Run at Orchard Park
Fox Run at Orchard Park is sponsored by the United Church Home Society; a Western New York based organization founded in 1877, devoted to residential senior citizen living and care.
When constructed, Fox Run will be located on 52 tranquil Orchard Park acres set at the southeast corner of Route 20-A and California Road. The site will offer housing options consisting of one and two bedroom apartments as well as patio homes. Additionally, the Fox Run Community will offer its senior residents a variety of on site amenities including a health center, indoor pool, workshop, gift shop, banking facilities and a variety of restaurants. For more information on Fox Run visit www. foxrunorchardpark. com or call 662-5001.
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