Ziegler Successfully Completes $67.7 Million Financing for Fox Run Retirement Community in New York

Ziegler, a specialized investment banking firm, is excited to announce the successful completion of financing amounting to $67,665,000 for Fox Run at Orchard Park, a notable retirement community based in New York. This funding comes in the form of Series 2025 tax-exempt revenue bonds, managed through The Dormitory Authority of the State of New York, focusing specifically on senior living finance.

Overview of Fox Run

Fox Run, which operates as a nonprofit corporation, is situated on a sprawling 54-acre campus in Orchard Park, just south of Buffalo, and is located less than a mile from the renowned Highmark Stadium, home to the Buffalo Bills. Since opening its doors on November 1, 2007, Fox Run has established itself as a premier Continuing Care Retirement Community (CCRC) catering to individuals aged 62 and older. The community offers a range of living options, including 180 independent living units made up of 30 patio homes and 150 apartments within a two-story complex that features both a Health Center and a Community Center.

The Health Center is equipped with 60 skilled nursing beds along with 52 assisted living suites, including 18 specially designated for memory care. The first residents moved into the independent living apartments shortly after the facility's opening, marking a significant milestone for Fox Run.

Funding Purpose and Development Plans

The funds raised from the Series 2025 bond issue are earmarked for significant expansion and enhancement of the Fox Run community. Plans include the development of 63 new independent living apartments and eight additional patio homes. Moreover, renovations and enhancements to existing common areas are set to be undertaken, including new communal facilities that will create an even more vibrant living environment.

The project entails constructing three new independent living apartment wings, integrating seamlessly with the existing buildings and community spaces. However, in the process, two current independent living units will be decommissioned to make way for this ambitious expansion, which is expected to cover an area of approximately 82,500 square feet.

Comments from Leadership

Bill Wlodarcyk, President and CEO of Fox Run at Orchard Park, remarked on the pivotal role Ziegler has played in bringing this project to fruition. He stated, “We could not have gotten our project started without Ziegler! They are more than just our bankers; they are business partners.” Wlodarcyk attributed much of the project’s vision and execution success to Keith Robertson, a Managing Director in Ziegler's Senior Living Finance Practice, who has been involved from the initial stages.

Keith Robertson himself expressed confidence in the community’s leadership, highlighting the dedication and thoughtful planning that positions Fox Run among New York's top CCRCs. He stated, “This new project reflects their ongoing commitment to serving the greater Buffalo area, expanding access for local seniors, and enhancing the lifestyle that makes Fox Run so special.”

Ziegler’s Expertise

As a leading provider of financing solutions for nonprofit senior living organizations throughout the nation, Ziegler specializes in providing tailored financial strategies, investment banking services, financial risk management, and more. The firm’s team fosters partnerships aimed at enhancing the quality of life for seniors through increased access to essential facilities and services.

In summary, the financing deal not only sets the stage for Fox Run at Orchard Park's expansion but also symbolizes Ziegler’s enduring commitment to supporting the senior living sector through innovative financing strategies. As the elder population continues to grow, projects like this will play a critical role in ensuring seniors enjoy a fulfilling lifestyle in their retirement years.

To learn more about Ziegler, visit their website at www.ziegler.com.