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Notre Dame Health Care received two loans totaling $33.6 million from MassDevelopment.
December 29, 2020
Notre Dame Health Care receives $33.6M MassDevelopment loan for renovations
MassDevelopment has issued two bonds totaling $33.6 million to Worcester nonprofit Notre Dame Health Care Center, Inc., to fund building improvements at Notre Dame Long Term Care and Rehabilitation Center, Notre Dame Du Lac and Notre Dame At Home, the agency announced on Tuesday.
Notre Dame Long Term Care and Rehabilitation Center is a 123-bed skilled nursing facility; Notre Dame Du Lac is a 108-unit assisted living facility; Notre Dame At Home provides adult hospice, pediatric hospice and palliative care services.
All residential units and common spaces are among the pieces being improved and updated, according to a MassDevelopment press release.
People’s United Bank purchased the bonds.
Notre Dame Health Care Center, Inc. was established in 1990, although the Sisters of Notre Dame de Namur have operated on Plantation Street since 1900, according to MassDevelopment.
“We are grateful for the expertise and support of the team at MassDevelopment for their assistance in helping us secure the financing needed to ensure we are able to renovate and modify our facilities to meet the current and evolving needs of those we serve,” said Notre Dame Health Care Center CEO Karen Laganelli in a statement.
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