Senior living center creates economic opportunitiesDecember 1, 2023
Peaceful Pines awarded $1.5 million REDLG loan facilitated by Heartland Energy
Housing comes in many forms.
But no matter the type of dwelling, there is most certainly a shortage of available units.
The recent opening of a senior living center in Madison is creating housing opportunities not only for the center’s residents, but for the community as a whole.
Peaceful Pines Senior Living officially opened its doors and welcomed residents on October 2. A combination of independent and assisted living, the facility was awarded a $1.5 million loan facilitated by Heartland Energy.
The previous number of independent living, assisted living and memory care units in Madison was not meeting demand.
Peaceful Pines features 19 independent living units with attached garages available, along with 31 assisted living units.
The facility also features a movie theater, dedicated worship area, library, hair salon, outdoor courtyard, exercise center and centrally located dining area. It also boasts a pub with a pool table.
The new facility is operated by HME Care, a subsidiary of Brookings, SD-based HME Companies.
HME Care focuses on the development, management, and operation of senior living communities across South Dakota.
The company previously purchased Heritage Senior Living in Madison, later re-naming it Peaceful Pines.
The former assisted living center is being transitioned to a state-of-the-art memory care center which will be able to house up to 24 residents.
The new facility along with the memory care renovation is expected to capture 60% of the unmet demand in the community.
Loan facilitates growth
One of the greatest benefits offered by Peaceful Pines is a strong community atmosphere for residents, encouraging social and physical well-being.
It offers seniors an alternative to traditional housing where they can socialize and have many of their needs met without leaving the building.
“Peaceful Pines provides needed housing for the growing senior population, while also freeing up existing housing for young families,” said Heartland Director of Economic Development Casey Crabtree. “By offering three levels of care, residents can stay in the community and have their health needs met.”
Heartland Energy assisted HME by applying for a REDLG loan through the Rural Development office of the United States Department of Agriculture.
The Rural Economic Development Loan and Grant Program provides funding for rural projects through local utility organizations. USDA provides zero-interest loans to local utilities which they, in turn, pass through to local businesses for projects that will create and retain employment.
Peaceful Pines was awarded $1.5 million for the new facility.
The facility is expected to generate 15 to 20 new healthcare positions.
It will also make more traditional housing options available in the community.
“A senior living facility of this size will benefit the community by not only offering quality senior care, but also employment opportunities and a community presence,” added Crabtree. “This is a great addition to the community from many aspects.”