East Longmeadow, MA – MassDevelopment has issued a $28 million tax-exempt bond for Berkshire Healthcare Systems Inc. of Pittsfield. They will use bond proceeds to buy a parcel of land in East Longmeadow, demolish an existing building on the parcel, and build and furnish a 131-bed skilled nursing facility.
Berkshire Healthcare will also renovate, reconstruct, and make an addition to its current skilled nursing facility at 305 Maple Street for use as an assisted living facility and doctors’ offices. T.D. Bank purchased the bond.
“Berkshire Healthcare offers diverse senior housing options ranging from independent living and assisted living to memory care, all served by its skilled nursing team,” said MassDevelopment President and CEO Lauren Liss. “MassDevelopment is proud to support Berkshire Healthcare’s critical services through this tax-exempt financing, which will help expand and renew its facility in East Longmeadow.”
“Berkshire Healthcare is pleased to be executing its strategy to lead the industry in care delivery, value and innovation through a strong foundation of engaged employees and a culture that anticipates the needs of the population it serves,” said William Jones, President of Berkshire Healthcare. “With the support of MassDevelopment’s expertise in this financing structure and bond placement, we look forward to bringing this project in East Longmeadow to life to meet the needs of residents in this community well into the future.”