Assisted living facility Cambridge Warren will close at the end of the year, officials confirmed to Erie News Now on Thursday.

Residents received a letter Nov. 15 notifying them of the closure on Dec. 31. It also offered assistance finding residents new places to live.

Carpe Vita Senior Living, which was hired in August to manage the facility, said about 23 residents and nearly 20 employees will be affected.

The economy, inflation, tripling interest rates, labor shortages and the pandemic "have made the business no longer viable," according to the letter.

"We are saddened by the circumstances that have led to this decision and are genuinely grateful for the time you have spent as part of our community," residents were told in the letter.

Cambridge Warren, which has been in operation for nearly 25 years, is located at 706 Pennsylvania Ave. W. in Warren.

Cambridge Retirement Living has seven other facilities in Pennsylvania including one in Corry.