The Monastery
The Monastery was built in 1885 and was in use by the Sisters of St. Francis until 1998. On the 10 acre property now stands a 101-unit Assisted Living project. With the 26,000 square foot addition, the converted building offers 50 housing units for Alzheimer's patients.
The new building is licensed as an Assisted Living Residence under the New Jersey State Department of Health Assisted Living Residence Regulations. Behind the Monastery complex is a 36-unit independent living apartment section. The apartments are one-bedroom units housed in 9 quad-style buildings. This project was TICIC's inaugural foray into construction lending.
