Eastmont Towers is beginning development on its growth.
After a delay brought on by the coronavirus pandemic, growth plans at Eastmont Towers are again on monitor.
The senior residing group at 6315 O St. introduced final week that it has secured financing for the $50 million growth.
Eastmont and its accomplice on the undertaking, Washington-based nonprofit senior housing group Reworking Age, mentioned they’re working with business financial institution Washington Federal and Ziegler, an funding financial institution, to finance the undertaking.
“This undertaking represents a significant funding in east Lincoln and in Eastmont’s dedication to serve seniors for generations to come back,” Eastmont Government Director Andrew Fisher mentioned in a information launch.
The undertaking was introduced in June 2019 and development had been scheduled to start out final summer time. Nonetheless, the pandemic hampered the marketplace for bonds, resulting in the financing delay, mentioned Melinda Stone, Eastmont’s director of gross sales and advertising.
Sampson Building is constructing the undertaking, which features a new constructing with roughly 50 residences. Different components of the growth embody an indoor pool, health middle, performing arts middle, bistro, sky high lounge, underground parking and a few new out of doors courtyards and gathering areas. The undertaking is predicted to be accomplished in late 2022.
Stone mentioned half the items within the new constructing, which will likely be referred to as The Stratford, have already been bought.
