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(NEWPORT RI) – St. Clare-Newport has announced today that it has obtained a $15.28 M line of credit in financing through the Savings Institute Bank and Trust to expand its senior services in Newport.
The bank financing will be used primarily to construct a new addition to the nursing facility that will house 32 SNF units, 40 Independent /Assisted Living units and an Adult Day Health program. The expansion will approximately take 15-18 months to complete and will include new parking facilities, courtyards and a café. Ground breaking will begin in spring 2015. Several Aquidneck Island and RI based companies will be utilized, including FJS Associates, Behan Bros. and Durkee Brown Viveiros Werenfels Architects along with NK Architects of New Jersey. Using local companies enables this project to be extremely mindful of the community’s needs and expectations. This project brings elder care services into Newport which is currently non-existent in the city limits, enabling seniors to age in place in their community.
St. Clare’s existing building will be renovated after the new addition is completed and when additional financing is solidified. The idea of expanding St. Clare was first presented to officials of the Diocese of Providence eight years ago. During that time St. Clare has been refining programs that will be offered, engaging design development professionals and completing several pre-development tasks. Also, older buildings were demolished on the nearly 2 acre property on the corners of Spring, Dennison and Brewer Streets in downtown Newport with a $1.2 M line of credit from the old Newport Fed. Additionally, installing its new fire service and sewer connections while work was being completed on Thames and Spring Streets will enable St. Clare to hit the ground running when spring comes.
Photo: Mary Beth Daigneault, St. Clare-Newport Administrator; Timothy Burns, Commercial Business Development Officer,
Savings Institute Bank and Trust (SIBT); Kevin McCarthy, SIBT Board Member; Paul Little, Senior Commercial Loan Officer, SIBT; Cristina Feden, Commercial Lender, SIBT; Bishop Thomas Tobin, Bishop of Providence; John J. Barry, III, Secretary for Social Ministry and Catholic Charities, Diocese of Providence; Christopher Boyle, St. Clare-Newport Advisory Board Chair; Rheo Brouillard, President and CEO, SIBT