Bayview PACE Closes $6 Million in C-PACE for New Senior Living Facility in Durango, CO
124-unit Mesa Verde to meet increasing demand in south-central Colorado
Coral Gables, FL and Durango, CO – Bayview PACE today announced providing $6 million in C-PACE financing for key improvements for the new 124-unit Mesa Verde senior living community in Durango, CO. The C-PACE financing helped fund primary building systems including but not limited to HVAC, electrical, plumbing, and roofing.
The 105,000 square-foot Mesa Verde will offer 92 assisted/transitional living units spread across studio, 1-bedroom and 2-bedroom configurations, and also 32 memory care studio-units. Amenity spaces will include multiple dining rooms, exercise facilities, a beauty salon/barber shop, library, activity rooms, computer room, theatre auditorium and a coffee shop/deli. Located on Ewing Mesa Road about four miles from downtown Durango, Mesa Verde is in a popular neighborhood directly adjacent to Centura Mercy Hospital, the only major hospital in the area.
Mesa Verde is a project of Carson City, NV-based Mission Senior Living, a developer, operator, and owner of senior living communities across Arizona, New Mexico, Nevada, and Montana.
The Durango market is underserved with currently only one existing assisted living facility and no memory care units within city limits, according to Mission Senior Living.
According to Coral Gables, FL-based Bayview PACE, its Commercial Property-Assessed Clean Energy financing (C-PACE) offers favorable and cost-effective terms for qualified improvements in energy, lighting, water systems, building envelope and other resiliency components, and it can be applied to new construction as well as renovations.
About Bayview PACE
Bayview PACE offers creative financing solutions that combine construction, bridge and CPACE lending. Unlike most PACE-only providers, Bayview PACE works with commercial property owners and developers to provide a full capital stack solution. Bayview PACE is a division of Silver Hill Funding, LLC. NMLS# 1564077 www.nmlsconsumeraccess.org Please visit www.bayviewpace.com.
About Mission Senior Living
Mission Senior Living, is a Nevada based leading developer, operator, and owner specializing in senior living communities across the Western United States with a rich history spanning over 50 years in the industry. www.missionseniorliving.com