First Niagara Provides Financing for New APT Foundation Facility in West Haven

First Niagara Financial Group (Nasdaq: FNFG) today announced it has closed a $1.3MM construction to permanent mortgage loan with the APT Foundation, a group that provides outpatient substance abuse treatment to people living in Greater New Haven.

The loan will be used for the purchase of an existing building on 184 Front Avenue in West Haven, which will be demolished and rebuilt as a new 10,000 square foot treatment facility. First Niagara also partnered with Connecticut Innovations (CI) on this financing; their participation included a $400,000 loan in support of APT Foundation, an existing portfolio client with CI.

“The APT Foundation has been a First Niagara customer for more than a decade. They understand our mission and were able to quickly and efficiently put together a financing package that will allow us to open our new facility by the end of the summer,” said Lynn Madden, CEO of APT Foundation. “Being able to find substance abuse treatment close to where you live has been directly linked to recovery; this new facility will offer important treatments to even more people living and working in the West Haven area.”

The APT Foundation’s new facility will include substance abuse, mental health and primary care for more than 700 people in the West Haven and Milford areas. Once open, the facility will create 22 new jobs including nurses, therapists and counselors; applications are currently being accepted for these positions.

“Providing top-quality patient care is the number one priority of the APT Foundation, and First Niagara is proud to be a part of the growth and development of an organization that is working tirelessly to help people regain their health and quality of life,” said David Gesler, First Niagara Business Banking Relationship Manager.

Construction is currently underway for the West Haven facility, which is expected to open in July. The APT Foundation also has two existing locations in North Haven and New Haven. For more information, please visit www.aptfoundation.org.