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COLCHESTER, CONN. — Kennedy Funding Financial (KFF) has closed a $1.6 million loan for a 16-acre development site in Colchester. The two-year, interest-only funding was provided to Settlers Greene LLC, an affiliate of J Healy Builders LLC, and will be serviced by KFF. Situated at 312 Lebanon Ave., the property, known as Settlers Greene, is approved for a mixed-use residential and commercial condominium development. When complete, the 162,000-square-foot property will feature 43 townhouse units, 20 live/work units and four apartments. Kevin Wolfer of KFF arranged the financing for the borrower.