Woodbriar Senior Living, LLC, will use proceeds from a $30 million bond, issued by MassDevelopment, to build a 125-unit assisted living facility in Falmouth, according to a press release.
The new center will have 35 studio apartments, 66 one-bedroom units, and 24 two-bedroom units. Woodbriar Senior Living will also donate about 15 acres of land to create Falmouth’s first handicap-accessible park and walking trail.
Twenty-five units will be rented to low-income households. “Affordable assisted living has become an important component of the Massachusetts housing market,” said MassDevelopment President and CEO Marty Jones. “We’re pleased to support the Woodbriar project, which in a sustainable fashion will provide more housing opportunities for the Commonwealth’s seniors.”
The new assisted living facility will provide residents with amenities including a bistro, pub, theater, library and wellness center.