Friday, January 16, 2026HUD’s Federal Housing Administration (FHA) Facilitates Financing for New Hospital in Indian Land, SC

WASHINGTON - Today, the U.S. Department of Housing and Urban Development's Federal Housing Administration (FHA) announced that it has recently closed a transaction to insure a $251.2 million supplemental mortgage for the construction of a new acute care hospital, medical office building, and central energy plant in Indian Land, South Carolina to be operated by MUSC Health. When constructed, the new facilities - to be named MUSC Health Indian Land Hospital - will offer increased access to acute care hospital services for residents of northern Lancaster County, SC, who often have to leave the state to seek this type of care.

"This closing represents the best of what FHA-insured hospital financing can do to make vital capital available in areas that are in great need of new or enhanced acute care hospital access," said Federal Housing Commissioner Frank Cassidy. "We are pleased to support this important project for the citizens of Indian Land and northern Lancaster County who will, in the future, have access to quality care right within their community."

The mortgage was originated by Armadale Capital and insured by FHA under its Section 242/241(a) Mortgage Insurance for Hospital Facilities program at an interest rate of 5.4 percent and a 25-year term. The facility is expected to open in early 2028.

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