April 20-May 3, 2016
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COLORADO REAL ESTATE JOURNAL
— Page 3B
ARCHITECTURE INTERIOR DESIGN URBAN DESIGN LANDSCAPE ARCHITECTURE
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Episcopal Homes
MINNEAPOLIS, MINNESOTA
Cindy Hogan
Christian Living Communities
owns and operates three CCRCs, also
becoming known as life plan commu-
nities, in
the south
Denver
metro area,
and each
are unique-
ly different
in both
lifestyle and
financial
offerings.
• Holly
Creek
Retirement
Community,
located in
Centennial
near Holly
Street and
Arapahoe Road, is what is typically
known as Type B CCRC, meaning
that an entry fee is required for an
independent living apartment home
as well as a monthly fee. For higher
levels of service, life-care residents
are afforded discounts but still pay a
monthly fee that increases with the
higher levels of service and care such
as assisted living and skilled-nursing.
Residents also receive 10 complimen-
tary respite days annually for higher
levels of service, if the need should
arise, after an illness or injury.
• Clermont Park Retirement
Community, located in Denver near
Colorado Boulevard and Yale Avenue,
offers a Type B contract, the same as
Holly Creek’s, as well as a month-to-
month rental option. With the rental
option there is not an entry fee; there
are no discounts to higher levels of
service or complimentary respite days,
and there is not the life-care contract
guaranteeing access to a higher level
of service. There is a full continuum of
care within the same community and
current residents do receive a higher
priority for services than someone look-
ing for services who is not a resident.
Having both options on one senior-
living campus allows Clermont Park
the ability to serve people all along the
financial continuum as well as the care
continuum.
• Someren Glen Retirement
Community, located in Centennial
south of Holly and Arapahoe, offers the
full continuum of care as a rental com-
munity, without a life-care contract or
entry fee. Just like Clermont Park, resi-
dents do have a slight priority to higher
levels of service than someone seeking
services from the general community
who is not a current resident.
CLC believes the CCRC model is
a good life-plan for older adults. The
peace of mind that higher levels of
service are available right within their
home community, if an individual’s
care needs change, is priceless for
both older adults and their families.
Additionally our life-care plans that
require an entry fee appeal to those
looking for a financially stable invest-
ment. Most of our entry-fee plans are
90 percent refundable within a rea-
sonable amount of time, to the older
adult or his family when he leaves our
community. Ten percent is retained to
help refurbish and remarket the apart-
ment home after someone leaves as
well as help provide for discounts and
respite days. While someone lives with
us, their entry fee is invested to ensure
the financial stability of the community,
which benefits all residents and helps
with reserve funds.
We are proud to offer communities
with full continuums of care and within
our family of communities, a full con-
tinuum of financial offerings as well.
Kathy Schreiner
As we age, the cost of long-term care
can become a top concern for many
families and older adults. At a Type
A CCRC like Vi at Highlands Ranch,
residents move into our independent-
living community and then have
access to our on-site care center at the
“Continuing-care retirement communities are senior communities that typically include
independent living, assisted living, skilled-nursing and memory care. Some communities are
entry-fee models and some are rental models. What type of CCRC are you? Is your monthly
price driven by the levels of care provided? If you have an entry fee, how is that utilized?”
Question of the Month
Please contact Pyms Capital Resources or The Highland Group if you would like to participate in the Senior Housing & Care Question, or if you have a question that you would like to see addressed.
Cindy Hogan
President,
Christian Living Communities
“CCRCs pro-
vide a unique
option for
seniors by offer-
ing different care
communities on
one campus. In
Colorado we
are fortunate to
have a variety of
CCRCs, and this
month have the
opportunity to
learn more about
these providers.”
MODERATOR:
Hayden D.
Behnke
Broker associate,
Pyms Capital
Resources
