May 21, 2010
Dallas, Texas - Health services developer, McFarlin Group, and its joint venture partner, The Cirrus Group, have closed on a $14 million development loan under HUD's 232 LEAN program and commenced construction for a new senior living assisted living and Alzheimer's care community in McKinney, TX for seniors needing daily living assistance and those living with the challenges of Alzheimer's disease and dementia.
The community will be named Orchard Park of McKinney, will be located at 3392 Medical Center Drive and is planned to open in early 2011. Orchard Park of McKinney will contain 67 assisted living apartments and 30 memory care residences. Assisting with daily operations of the community is Good Neighbor Care, the nation's 17th largest operator of assisted living with over 50 similar senior living properties under management across the U.S. and 1,700 employees. Love Funding Corporation was the underwriter and HUD insured lender for the community.