COVINGTON, Ky. — Ziegler, a specialty investment bank, has closed $48.7 million in bonds for the expansion and renovation of Rosedale Green, a skilled nursing community in the Cincinnati suburb of Covington.
The first phase of the project is the construction of a new 74-unit senior living community in nearby Elsmere. It will consist of 54 skilled nursing beds, including long- and short-term care, and 20 assisted living memory care rooms. Construction has already started, with completion planned for October 2016.
A complete renovation is also planned to convert Rosedale Green, transitioning to the more residential-style Household Model. Work is set to begin in November 2015 and finish by August 2017.
Action Pact, a Manhattan, Kan.-based Household Model developer, is providing consulting services for the project.
Rosedale Green is a 110,000-square-foot community on 12 acres. Kenton Housing Inc. built and operates the community.