Following years of negotiations and planning for the development of Carnegie East House, Love Funding announced the project is moving forward and that it will be financing the $30.1 million assisted living facility. Health Advocates for Older People proposed the project in response to the overwhelming need to provide New York's elderly population of low and moderate-income seniors with a quality, affordable assisted living environment. The city's booming elderly population of nearly 21 percent has created a strong demand for adequate housing that will enable seniors to receive the assistance they need to participate in daily activities. Love Funding's extensive experience with financing for assisted living facilities made the company the ideal financing partner for this particular project.
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|Date:||Jun 1, 2001|
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