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Developers say financing near for Alpena assisted‑living project; tree clearing, road work next
Summary
Developers told the Alpena City Council on Aug. 4 they are close to securing equity and a construction loan for the Guardian Subelpina assisted‑living and memory‑care project, have hired a local contractor and expect construction to begin after site clearing and utility work.
Developers of the Guardian Subelpina assisted‑living and memory‑care project told the Alpena City Council on Aug. 4 they are close to securing the equity and construction financing needed to start work, and have contracted a local builder to begin site clearing and road work.
At a presentation, Robert Storin, managing member of Allison Financial Ltd., said the development team had an investor and some financing fall through earlier this year but that “we should have something pretty well locked up and get moving” within two or three weeks. He said contractors for tree removal were in place and Clark…
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