Sandy River Co. abandons plans for Damariscotta nursing home
Sandy River Co. cited rising costs, high interest rates, challenges with securing loans and staffing shortages.
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Sandy River Co. cited rising costs, high interest rates, challenges with securing loans and staffing shortages.
Clippership Landing could help LincolnHealth stem years of financial losses at two existing long-term care sites. But the project comes with trade-offs, too.
Southern Maine Health Care plans to invest $34 million in construction and upgrades of the SMHC Medical Center in Sanford. The plan includes construction of a new, modern long-term care center for older adults, establishment of a short-stay, inpatient behavioral health care unit and general upgrades.
The cost increase is partly the result of adding 12 beds to the original plan. But the real driver is the skyrocketing expense of construction material and labor, the project developers say.