ECMC begins construction for new nursing home
By WBFO Newsrooom
Buffalo, NY – The Erie County Medical Center broke ground Thursday morning for a new $103 million, 390-bed nursing home on the ECMC Health Campus on Grider Street in Buffalo.
The new long-term care facility will replace the 80-year-old Erie County nursing home in Alden. It also combines in one location existing long-term care beds from Alden and ECMC.
The move from Alden to ECMC's Health Campus will focus on providing higher quality, state-of-the-art care for residents.
"Moving our county home residents to a new, modern facility at ECMC will benefit residents, our employees and will provide better, more efficient care," said Jody L. Lomeo, ECMC's CEO. "This is something the state has supported for many years, and now we're making it happen."
Medicaid reimburses a portion of the construction costs, which is dependent upon the number of residents that receive Medicaid each year.
The project is financed through bonding advanced by the Erie County executive and approved by the Erie County Legislature. The bonds will be sold through the Erie County Fiscal Stability Authority and this borrowing structure saved ECMC Corp. $118 million in interest expense by reducing the interest rate and the repayment period to 15 years from 30.
Erie County will pay $11.5 million of the construction costs through an agreement reached with ECMC in 2009. ECMC officials estimate the new facility will reduce current operating losses by 60 percent.
"We're extremely proud of the innovative work happening at ECMC," said Sharon Hanson, president of the ECMC Corp. board. "Having the support of our partners, New York State, Erie County and the control board, makes it all possible. And what's best is that our residents and employees benefit most."
The new nursing home is set to open in December of 2012.