Bishop Gadsden Using $29.2M in JEDA Bonds for Retirement Community Expansion

Posted on March 29, 2023 - News, Success Story

Charleston, SC — Charleston County

Bishop Gadsden Episcopal Retirement Community is using a $29,200,000 bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to expand the organization’s life plan community in Charleston.

The tax-exempt Economic Development Revenue Bonds will be used to construct and equip 15 new independent living units to be known as The Meade at Bishop Gadsden’s 100-acre campus on James Island.

The Meade at Bishop Gadsden

“JEDA financing is once again making it more feasible for us to expand our independent living offerings even in an economic environment of higher interest rates and other rising costs. We appreciate that opportunity to serve more seniors in South Carolina.”
— Lynne Kerrison, EVP and CFO for Bishop Gadsden Episcopal Retirement Community

“Bishop Gadsden has a well-deserved national reputation for excellence, and we were very pleased to assist them again with this most recent expansion of their thriving community,” said Jeremy Cook, Bond Counsel with Haynsworth Sinkler Boyd, P.A., in Charleston.

“JEDA is honored to continue to provide Bishop Gadsden, a trusted provider of housing and health care services to our state’s growing senior population, with tax-exempt finance options to expand their operations,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.