Greystone is pleased to announce the successful completion of a comprehensive, multi-phase expansion and renovation project at Jefferson’s Ferry, a not-for-profit continuing care retirement community in South Setauket, New York. The project was financed through $88.98 million in tax-exempt bonds issued by the Town of Brookhaven Local Development Corporation and underwritten by HJ Sims, consisting of $55.98 million in Series 2020A Bonds and $33 million in Series 2020B Entrance Fee Principal Redemption Bonds.

Originally opened in 2001, the community spans 50 acres and features 248 independent living residences—220 apartments and 28 cottages—along with 60 assisted living residences and 60 skilled nursing beds within the Vincent Bove Health Center.

The campus expansion and renovation delivered 60 new independent living apartments and 20 Special Needs Assisted Living Residences (memory care), along with the expansion and renovation of the community center. The renovation introduced elevated wellness and lifestyle amenities such as an enhanced fitness center, updated dining venues, and dedicated spaces for arts, culture, and lifelong learning. Targeted renovations within the existing assisted living and nursing offered enhancements across common spaces, dining venues, and wellness areas—further modernizing amenities at the community and elevating the resident experience.  

Greystone served as development consultant for the project, providing comprehensive planning, financial structuring, and implementation oversight, partnering with Jefferson’s Ferry to deliver a forward-looking campus transformation that enhances resident value, reinforces market competitiveness, and supports long-term operational sustainability.