A joint venture between LCB Senior Living and Virtus Real Estate Capital have received a $23.27 million construction loan for the development of a senior housing facility. The project, The Residence at Stony Ford, will be a 104 apartment independent living, assisted living and memory care community located in downtown Stamford, Conn. Existing multifamily and office buildings on the site will be razed to make way for the five-story building and surface parking. The project is expected to open in the second quarter of 2018. The loan was supplied by M&T Bank.
