Seniors Residence $$$

James

James

Member
Location
Canada eh
A new seniors residence just opened in our village. It's basically an apartment building with everything from studio units to two bedrooms with a den. Cooking is not allowed in your unit but you can have a microwave and a small bar fridge.

All the meals are included in a pretty swanky looking dining room. There's a 24hr Cafe that serves snacks, tea, coffee, juices which is also included.

There's a small gym, whirlpool/hot tub, small library book exchange, computer/internet Cafe, a party room or banquet room you can sign out for family gatherings (if you want food you have to cater it from the dining room and pay for it), a salon that's open once a week during the day and once during the evening, a staff doctor that you can make non emergency appts with available twice a week, 24hr controlled entry and security.

There's a small grocery store and pharmacy about a half block away.

The apartments were ok, just kind of weird without a stove or much cupboard space.

What shocked me was the price. The Studio was $2,800 a month. The 2 bedroom with a den was just shy of $5,900 a month.

I don't know who the heck they plan on drawing but at those prices it sure as heck won't be me! The place is 3/4 empty.
 

We went looking at senior apartments near our house back in the 90s when my inlaws were still alive. The apartments weren't even that fancy at all, but they were over $1,300 a month, I don't remember if they were studio or one bedroom. They just stayed living in their home until they couldn't anymore due to health reasons, then moved in with us.
 
It sounds very similar to where I am living James---https://www.facebook.com/oakmontoffresno/

Even the rents are comparable. We are fully occupied and there is a waiting list. I'll bet the place you sight is part of a huge corporation that has many similar facilities around the country.
 

SeaBreeze said:
We went looking at senior apartments near our house back in the 90s when my inlaws were still alive. The apartments weren't even that fancy at all, but they were over $1,300 a month, I don't remember if they were studio or one bedroom. They just stayed living in their home until they couldn't anymore due to health reasons, then moved in with us.
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They are a nice concept but, wow. I'm still shaking my head. Maybe they hope to draw some rich farmers or people from the nearby City. When it comes time to move for us it'll be a ground floor apartment. (I doubt our kids will be offering)
 
James said:
They are a nice concept but, wow. I'm still shaking my head. Maybe they hope to draw some rich farmers or people from the nearby City. When it comes time to move for us it'll be a ground floor apartment. (I doubt our kids will be offering)
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Sorry, I corrected it, I remembered wrong and my husband reminded me, back in the 90s they were asking $1,300 a month for those senior apartments. Hopefully we'll always be able to stay in our home, which is fully paid for. A ranch house with finished basement, so just one flight of stairs to go down there, mostly for laundry on a frequent basis.
 
They have built a few of those cruise ship style senior residences in my area and they all seem to be full.

The prices here are similar a studio with meals, transportation, maid service, etc... included runs about $30,000.00/year and goes up from there depending on the size of the apartment. The units in this area have full kitchens but they have the stoves on a breaker switch so they can be turned off if a resident is not able to use them safely.

I would consider it as an alternative to an assisted living facility even knowing that I would still need to pay about $12,000.00/year for my health insurance and other misc. expenses. These days $42,000.00/year isn't too bad for three hots and a cot.
 
James, you say the place is 3/4 empty. I wonder if that will change as the place is new now and probably not well known yet. Could be too that most do not list a home for sale in winter and you would likely need to sell your home to finance that lifestyle.
 
James said:
A new seniors residence just opened in our village. It's basically an apartment building with everything from studio units to two bedrooms with a den. Cooking is not allowed in your unit but you can have a microwave and a small bar fridge.

All the meals are included in a pretty swanky looking dining room. There's a 24hr Cafe that serves snacks, tea, coffee, juices which is also included.

There's a small gym, whirlpool/hot tub, small library book exchange, computer/internet Cafe, a party room or banquet room you can sign out for family gatherings (if you want food you have to cater it from the dining room and pay for it), a salon that's open once a week during the day and once during the evening, a staff doctor that you can make non emergency appts with available twice a week, 24hr controlled entry and security.

There's a small grocery store and pharmacy about a half block away.

The apartments were ok, just kind of weird without a stove or much cupboard space.

What shocked me was the price. The Studio was $2,800 a month. The 2 bedroom with a den was just shy of $5,900 a month.

I don't know who the heck they plan on drawing but at those prices it sure as heck won't be me! The place is 3/4 empty.
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We have two luxury types like that in town. The maximum they can charge is $3300 a month.

The places are doing well. There is a lot of good pensions in this city from the industries we used to have.

I don't know what the future will bring.
 
Sounds like New York City., Hoboken and Weehawken N.J. prices without the fancy dining rooms, food included. In NYC, studios start at almost $2,700 for luxury apartments and go up as high as almost $3,700. Hoboken & Weehawken hava a lot of waterfront properties and those are very expensive. For instance this one apartment complex or building has 2 bedroom apartments for $6,000. I don't know how many seniors can afford the prices you've posted about but apparently some can. Lon said his place is full, maybe the senior living place you're talking about is in the wrong area for those prices. So I wonder how long they can sustain it having that many vacancies.
 

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