Presbyterian Communities of SC Using $118 Million in JEDA Bonds for Improvements, Expansion
Easley, SC — Pickens County
Presbyterian Communities of South Carolina is using a bond issue in the amount of $118,060,000 through the South Carolina Jobs-Economic Development Authority (JEDA) to improve and expand the Foothills Retirement Community in Easley.
The Senior Living Facilities Revenue Bonds will finance the construction of 119 independent living homes, 24 memory support units, a clubhouse and a ballroom, as well as pay for the renovations to the main dining venue, hallways and common areas at the campus at 205 Bud Nalley Drive.
“This project is about expanding access to quality senior living while modernizing our spaces to meet the evolving needs of our residents.”
Franklin Fant, President and Chief Executive Officer of Presbyterian Communities of South Carolina
Foothills is one of six senior communities the nonprofit operates across the state.
“Tax-exempt bonds like these are vital tools for nonprofits seeking to reinvest in their mission. Assisting Presbyterian Communities has been a pleasure and privilege,” said Ray Jones, Bond Counsel with Parker Poe Adams & Bernstein LLP.
“We’re honored to again work with an organization like Presbyterian Communities that strengthens the quality of life for South Carolinians. JEDA bonds provide the financing structure they need to support long-term growth while keeping costs manageable,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
