Construction is expected to begin this month in Kenner on an assisted-living facility for retired pro football players.
The Louisiana Public Facilities Authority and a developer affiliated with the National Football League Alumni Association completed financing Friday for the Inspired Living at Kenner complex, one of 33 facilities planned near cities with high concentrations of former NFL players. The facility is projected to be ready in March 2017.
The facility, the result of a class-action settlement between the NFL and thousands of former players who accused the league of downplaying how dangerous repeated head injuries are, will specialize in providing assisted-living services and memory-loss treatment.
The three-story, 105,000-square-foot facility will accommodate up to 160 residents on a 9-acre lot at Loyola and Vintage drives, adjacent to Ochsner Medical Center-Kenner.
The project — developed by Senior Care Ownership I Inc. and managed by Validus Senior Living, both of Florida — is being financed by a bond issue of roughly $37 million through the Louisiana Public Facilities Authority. The LPFA is a public trust and public corporation that issues both taxable and tax-exempt bonds to finance public and private projects throughout the state. Friday’s project lifted the LPFA’s cumulative bond financings to more than $25 billion since the authority started in 1974.
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