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Greystone is proud to announce that Woodland Pond has successfully closed on financing for its expansion at Woodland Pond at New Paltz Project, a not-for-profit, single site Continuing Care Community in New Paltz, New York. The financing includes $32,000,000 in tax-exempt bonds issued through Ulster County Capital Resource Corporation and underwritten by B.C. Ziegler and Company.
Situated on an 83-acre campus adjacent to the 134-acre Millbrook Preserve, Woodland Pond currently features 177 independent living apartments offered in one- and two-bedroom floor plans ranging from 729 to 1,236 square feet, along with 30 independent living cottage homes ranging from 1,470 to 1,952 square feet. The community also includes 40 assisted living residences ranging from 348 to 460 square feet, 20 memory support suites of approximately 277 square feet, and 40 private skilled nursing beds.
This financing will support the renovation and expansion of Woodland Pond’s community building areas, including the development of a new state of the art performing arts center (which is also being generously supported by a capital campaign), a wellness lounge with additional fitness rooms, a gymnasium with an indoor pickleball court, a new art studio, a bar and lounge, and a fast-casual dining venue.
The financing will also provide pre-finance capital to fund the acquisition of an adjacent 20-acre site, and design and early development for a second phase of renovations, strategic campus improvements, and 94 independent living apartments. Planned updates within this second phase will also include enhancements to the Health Center’s dining and gathering spaces to further strengthen wellness and connectivity across all levels of living and care. In addition, a second 21-acre site will be acquired and land-banked to support future expansion and long-range campus planning.
Construction on the community building renovation began in November 2025, with completion anticipated in spring 2027. Subsequent phases—including the Health Center renovations and the development of the additional 20-acre parcel with satellite independent living residences—are projected for completion by the end of 2029.
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