MassDevelopment has issued $93.6 million in tax-exempt bonds on behalf of North Hill Communities, a continuing care retirement community in Needham. The organization will use bond proceeds to replace its 72-bed skilled nursing facility and build an independent living building, dining venues, and wellness center, along with renovating other independent living units, dining areas, and the facility’s entrance. 

“With this project, North Hill will offer expanded services, improved residences, and appealing community areas for seniors in Needham,” MassDevelopment President and CEO Marty Jones said in a statement. “We’re pleased to leverage this low-cost financing to help North Hill in this vibrant and important initiative.” 

North Hill, established in 1979, provides housing, health care, and hospitality services for seniors. The community originally had 341 independent living units and the skilled nursing facility, and has since added its own home health agency to care for residents in their homes. 

“We are pleased that North Hill has the opportunity to provide superior services to the seniors in our community,” President and CEO of North Hill Communities Kevin Burke said in a statement. “This financing allows us to continue to fulfill our mission and expand our services.”