Project Description
GRAL, LP is a Towne Club development that is virtually identical to the NFTC, LP development, though GRAL is located in Walworth County, Wisconsin. In fact, GRAL is being undertaken in cooperation with one of the original development partners in Overseas Investor Funding, LP. This $40,000,000 project will take place on a plot of land which has been subdivided from the Geneva Ridge Resort, and will feature exquisite views of Lake Como. Like the other Towne Club properties as well as SWAL and SWIL, this facility will feature several different service levels so that seniors may transition to progressively enhanced care as their needs change, but all within the same facility.
GRAL, LP has raised $9,000,000 from 18 investors and the project will create 240 jobs. Additionally funding sources include bond financing, developer equity, and new markets tax credits. Investors in this project hail from both China and Vietnam and began filing I-526 petitions in late July 2014. A construction contract was put in place in December 2013 and planning is taking place at this time, with an eye towards breaking ground when the weather permits in mid-2015.