Knute Nelson | Walker Methodist Close on Financing for Crystal Brook Senior Living Expansion
Expanding to better serve the community
On May 9, 2024, Knute Nelson | Walker Methodist closed on financing for the expansion of Crystal Brook Senior Living in Park Rapids alongside their partner and general contractor, Innovative Builders, Inc.
The financing supported a $6.6 million, 17,714 sq. ft. expansion to Crystal Brook Senior Living’s memory care household, adding 20 additional units to serve individuals with dementia or other forms of memory loss through specialized assisted living services. Residents of the new units are expected to move into the units in early June.
With the help of Itasca-Mantrap Electric Cooperative, the organization received a $2.36 million pass through loan from USDA REDLG, an E3 loan of $350,000 from Great River Energy, as well as funding from lead lender, Bremer Bank, to make the project possible.
Celebrating together
Leadership from Knute Nelson | Walker Methodist, Itasca-Mantrap and USDA came together on Thursday, May 9th to tour the expanded space and celebrate the closing milestone.
"We are honored to support Crystal Brook in their expansion within the Park Rapids community,” says Christine Fox, President and CEO of Itasca-Mantrap. “Their dedication to providing high-quality senior housing services addresses a critical and growing need, as evidenced by recent market studies. We look forward to seeing the growing impact they will have on the lives of older adults and their families in this area."
“We are so thankful to our financing partners for supporting us as this project came to fruition,” says Katie Perry, Chief Operating Officer and Senior Vice President of Knute Nelson | Walker Methodist. “Our passion for serving the Park Rapids area only grows alongside the incredible community support we continue to witness.”
Presently, Crystal Brook boasts a total of 88 units, with 69 units dedicated to senior/assisted living following an aging-in-place model, and 19 units designated for memory care. To seamlessly accommodate the expansion, one unit from the existing memory care household was reconfigured.
Knute Nelson | Walker Methodist has been serving Park Rapids area seniors since they opened their home health care office in 2012.
Reservations continue to be accepted for the new memory care units. For more information, please fill out this form or call (218) 616-7332.
Published on May 24th, 2024
