JEDA Issues $48M in Bonds to Finance Improvements at Bishop Gadsden Community
Charleston, SC — Charleston County
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $47,900,000 in Economic Development Revenue Bonds for significant capital improvements at Bishop Gadsden Episcopal Retirement Community in Charleston.
The tax-exempt bonds will finance the cost of constructing a new pool, fitness area and pickleball courts, a boardroom, community and performance spaces, central plant upgrades, and additional parking.
Bishop Gadsden, located on James Island, is a life plan community founded in 1850 and is now home to more than 575 residents and employs approximately 600 people.
“For 175 years, Bishop Gadsden has grown and adapted to meet the health care and retirement needs of seniors, and these improvements allow us to continue that legacy while enhancing daily life for our residents.”
Lynne Kerrison, Executive Vice President and Chief Financial Officer at Bishop Gadsden
“We were honored to assist Bishop Gadsden with this financing that supports meaningful, long-term improvements to a thriving, historic community. Tax-exempt bonds remain an effective and important tool for advancing such projects,” said Jeremy Cook, Bond Counsel at Haynsworth Sinkler Boyd, P.A., in Charleston.
“Bishop Gadsden is one of South Carolina’s most well-established senior living communities, and JEDA is grateful for the opportunity to support their investments to that ensure they remain a vibrant part of the Charleston community for generations to come,” said Jesse A. Smith, Executive Director of JEDA in Columbia.
