St. Clare gets $15.3M in credit to expand services

NEWPORT – St. Clare-Newport last week secured $15.3 million in credit financed by Savings Institute Bank and Trust to expand senior services in Newport.
The bank, based in Connecticut, has offices in southern Rhode Island and will finance the construction of a new addition to the nursing facility that will house 32 skilled nursing facility units, 40 independent/assisted living units and an adult day health program.
The construction is slated for the spring and should take 15-18 months, according to a January press release. It will include new parking facilities, courtyards and a café. St. Clare says it will be using several Aquidneck Island and Rhode Island-based companies, along with an architect firm from New Jersey, for the construction.
“Using local companies enables this project to be extremely mindful of the community’s needs and expectations,” according to the release. “This project brings elder care services into Newport which is currently nonexistent in the city limits, enabling seniors to age in place in their community.”
St. Clare says it will renovate its existing building after the new addition is complete and more financing is secured. The group, a health care agency of the Roman Catholic Dioceses of Providence, cares for the physical, emotional and spiritual needs of elders, according to the release.