Pinnacle Living plans major expansion at Richmond’s Cedarfield campus
Pinnacle Living, a provider of retirement and senior living options in Virginia, plans a multimillion dollar expansion at its 90-acre Cedarfield campus in Richmond.
The company said the expansion, announced Tuesday, was made possible through a $50.6 million loan from SunTrust Bank.
The project will include a new fitness and wellness building, upgrades to dining spaces and existing facilities and additional parking.The fitness and wellness center will offer space for lap swimming, an aerobic studio and a weight training room. Renovation of the facility's Health Care Center will add 23 additional one- and two-bedroom assisting living apartments.
Pinnacle Living is one of the largest life plan community (LPC) providers in Virginia. Its communities provide a variety of service options from independent and assisted living to memory support and higher levels of care.
Formerly known as Virginia United Methodist Homes Inc., Pinnacle Living rebranded in June. Its 1,000 employees serve more than 1,300 residents in seven Virginia communities including Cedarfield, Hermitage Eastern Shore, Hermitage Northern Virginia, Hermitage Richmond, Hermitage Roanoke, Lydia Roper Home in Norfolk and Windsormeade in Williamsburg. The company established its first home in 1948.
“These new facilities will ensure that we are meeting the evolving needs of the seniors in Richmond now and in the future,” Chris Henderson, president and CEO of Pinnacle Living, said in a statement.
Construction is underway for the dining enhancements at Cedarfield while plans for the additional parking and health services are being finalized. Pinnacle Living expects to break ground on the health and wellness center in the fall.
“We’re pleased to work with Chris and his team as they continue to expand their campus and reputation throughout Virginia,” John Stallings, Virginia division president and CEO with SunTrust Banks, said in a statement.
SunTrust’s Aging Services practice group offers expertise across a range of sectors including skilled nursing, assisted living, memory care and continuity of care in retirement. SunTrust said it currently has more than $2 billion in credit commitments for facilities that care for seniors.