Woodlands at Furman Completes Restructuring using JEDA Bonds
October 30, 2012
Retains 132 existing jobs
GREENVILLE, SC – October 30, 2012 – The Woodlands at Furman, a Life CareCommunity adjacent to Furman University, has utilized $45.4 million intax-exempt bond financing through the South Carolina Jobs-EconomicDevelopment Authority (JEDA) to restructure its original bonds whichwere issued in 2007.
The Woodlands retirement community includes 132 independent livingunits, 32 assisted living units, 16 memory support/Alzheimer’s units,and 30 skilled nursing beds. This community provides employment for132 people on a peaceful site nestled in the scenic Blue Ridge foothillsand near the cultural, shopping and entertainment attractions ofdowntown Greenville, as well as Furman University itself.
“The Woodlands at Furman is a premier not-for-profit retirementcommunity in a city recognized as one of the top retirement areas in thecountry. JEDA financing was essential to the construction of theWoodlands in 2007 and continues to help the community,” said WalterGoldsmith, President of Upstate Senior Living’s Board of Directors. Thenot-for-profit’s Board of Directors is comprised of 13 volunteers fromthe Upstate area.
“We particularly enjoy working on a project like this because of whatit means to the residents and their families, and we appreciate theopportunity to help make it happen,” said F. Mitchell Johnson, BondCounsel with Haynsworth Sinkler Boyd in Charleston.
“This kind of public-private partnership helps organizations likeUpstate Senior Living continue to improve the quality of life atfacilities like The Woodlands at Furman for people moving through thesecritical stages of their lives,” said Harry A. Huntley, CPA, ExecutiveDirector of JEDA in Columbia.
