Retirement Community Expands with $17M Bond

| November 28, 2018

Worcester, MA – MassDevelopment has issued a $17,590,000 tax-exempt bond on behalf of the Briarwood Community, a nonprofit continuing care retirement community located on the border between West Boylston and Worcester.

Briarwood, which currently operates independent living cottages and apartments as well as assisted living apartments and a skilled nursing center, will use bond proceeds to build, furnish, and equip 24 additional independent living and 12 memory care market rate residential units. M&T Bank purchased the bond.

Salem Community Corporation, which does business under the name Briarwood Community, was founded by the Salem Covenant and First Baptist churches of Worcester, opening in 1984 with 60 available housing units. The organization expanded in 1993, when it acquired a nursing home and completed building additions.

The Briarwood Community has continued to evolve to meet the changing needs of seniors, and currently offers 169 independent living cottages and apartments, 24 assisted living apartments, and 82 skilled nursing and rehabilitation beds. In addition to housing services, Briarwood offers dining, transportation, cultural and recreational activities, daily living assistance, short-term rehabilitation, and long-term nursing care.

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Category: All, Senior/Assisted LIving

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