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Thursday, October 30, 2014

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SHU to buy Jewish Home property for $16.5M

Updated 7:47 pm, Thursday, May 1, 2014
  • Sacred Hearst University has agreed to buy the Jewish Home for the Elderly on Jefferson Street for $15.6 million. The sale includes nearly 16 acres of land --- surrounded on three sides by SHU property --- and would be completed after the Jewish Home moves to a new facility in 2016. Photo: Genevieve Reilly, ST / Fairfield Citizen
    Sacred Hearst University has agreed to buy the Jewish Home for the Elderly on Jefferson Street for $15.6 million. The sale includes nearly 16 acres of land --- surrounded on three sides by SHU property --- and would be completed after the Jewish Home moves to a new facility in 2016. Photo: Genevieve Reilly, ST

 

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The parent organization of the Jewish Home has agreed to sell the Jefferson Street nursing home to Sacred Heart University for $16.5 million after it moves to a new location in 2016.

The nearly 16-acre Jewish Home property is surrounded on three sides by SHU property, and the university is considering using it for new student housing, according to a news release issued Tuesday by the nursing home's parent, Jewish Senior Services.

Jewish Senior Services has begun construction of a new campus on Park Avenue in Bridgeport that will include what it said would be the state's first "household" model nursing home.

The nonprofit organization said it has secured primary financing through the issuance of tax-exempt bonds by the city of Bridgeport, in partnership with People's United Bank.

After the nursing home moves, the university and Jewish Senior Services will continue their 40-year relationship educating health care professionals, according to the release.

The new nursing home will be divided in "households," each with 14 private bedrooms with bathrooms, plus a shared kitchen, dining room and living room. Andrew H. Banoff, the parent group's president and CEO, said the new model would improve the quality of life for residents and their families.

At its new site, the nursing home will continue to offer long-term and short-term care, rehabilitation services and outpatient treatments.

Construction is expected to be completed by June 2016.

The new senior-services campus also will also house offices for the organization's home care services, hospice, Institute on Aging, elder-abuse-prevention program and other programs.

SHU's campus covers 77 acres. The nearly 16-acre nursing home property will be the largest-ever expansion of the main campus, representing about a 20-percent increase, SHU President John J. Petillo said in the news release.