Could this ‘beautiful story’ be the story of the year?

09/18/24 at 03:00 AM

Could this ‘beautiful story’ be the story of the year?
McKnight's Senior Living; by Lois A. Bowers; 9/16/24
When we look back on 2024, we might just call the story of Casey’s Pond the feel-good story of the year in senior living. Or if not the story, certainly one of them. Casey’s Pond, a continuing care retirement community in Steamboat Springs, CO, entered receivership in July, after not being able to pay off millions of dollars in bonds that had been used to construct the community in 2013 and not being able to find a buyer. ... But along the way, the city of Steamboat Springs made an emergency authorization of $2.5 million to try to save the CCRC, and a local community foundation started a “quiet fundraising campaign” that resulted in millions of dollars in commitments from dozens of donors so that bondholder requirements could be met. ... Now, the ink is dry on that purchase agreement, which as of Sept. 3 was expected to close within 30 days.

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