The Presbyterian Home of Maryland, Inc (PHM) announced today that the Maryland Department of Aging has approved the feasibility study submitted by PHM for development and operation of The Village at Carsins Run, Harford County’s first Continuing Care Retirement Community. The Village at Carsins Run is focusing on achieving the required presales of the new independent living units needed for construction and permanent financing. Current plans call for The Village at Carsins Run to break ground in 2011, with the facility scheduled to open by late 2013.
The Department of Aging’s letter of approval for the feasibility study indicates that a reasonable financial plan has been submitted for developing and operating the project, which consists of 183 independent living units, 10 assisted living beds and 10 comprehensive care beds. The project will be constructed on 138 acres adjacent to Ripken Stadium in Aberdeen.While final costs are still to be determined, initial costs for the project will be approximately $125 million. Construction will be funded with seed capital from The Presbyterian Home of Maryland, a faith-based not-for-profit organization that has been providing care to seniors in the Baltimore area since 1883, and construction funding from municipal bonds.
“The Village at Carsins Run will offer seniors independent living, assisted living, and nursing care – all in an accessible, neighborhood-like setting which allows seniors to remain close to family, friends, and the community in which they have been living,” says Susan Shea, President & CEO of the Presbyterian Home of Maryland.
According to Shea, The Village at Carsins Run will employ about 80 full-time workers once it opens. Approximately 200 construction jobs will be available once actual work on the project begins.