Thursday, 17 May 2012
Tuesday, 20 December 2011 22:42

Old School Project Gets Financing

Written by  D. R. Darrah
Rate this item
(0 votes)

Old School; State, Town, County and Locals Complete Financing Package

Eli Schwartzberg of Stoneybrook Properties has anounced that the long awaited fiancing for the old Willsboro school project a.k.a Champlain Valley Senior Community is complete. The majority of the financing ($5.9 Million) is through a USDA backed commercal loan, the Town of Willsboro was awarded

 $375,000 through a state Community Developement Block Grant for the project and the Essex County Industrial Developement Agency has approved $270,000. The remaining funding of the $7.9 million dollar revitilization is sourced through local private investors. Schwartzberg estimates construction to start shortly after the first of the year with a completion 11 to 12 months later.

The assisted living facility is being developed utilizing the former Willsboro Central School. Eli Schwartzberg states that "all the permits are in place." Since puchasing the building in 2008, it has been placed on the National Register of Historic Places. Upon competion, the facility will give the benefit of 30 full time jobs.

Last modified on Friday, 23 December 2011 20:16

Leave a comment

Make sure you enter the (*) required information where indicated.
Basic HTML code is allowed.

Compare hotel prices and find the best deal - HotelsCombined.com

Copyright ©2012 WillsboroNY.com. All rights reserved.
Direct all inqiries to webmaster@willsborony.com
This web site is not associated with the Town of Willsboro government.