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Liberty Senior Residing is testing a brand new and distinctive possession construction at a brand new growth within the Charleston, South Carolina space.
The corporate is underway within the design and growth of its newest luxurious life plan neighborhood, The Peninsula at Charleston, which is slated for a 13-acre neighborhood district referred to as Courier Sq.. Facilities will embody a 24-hour concierge, valet service, a number of eating experiences, golf simulator, heated saltwater pool, salon, spa and extra. Items vary from 700 to 2,800 sq. ft in measurement and embody condos, backyard flats and townhomes.
Liberty is about to interrupt floor on the neighborhood in the course of subsequent 12 months, and pre-selling is already underway.
The neighborhood’s possession shall be equity-based, with residents in a position to buy models outright and hold them inside their estates after they cross away. That makes the neighborhood amongst greater than a dozen with such choices for residents, Liberty famous in a press launch.
The switch of possession of a senior dwelling unit might assist operators acquire extra census and maintain better monetary stability in the long run, based on Liberty.
Fairness-based senior dwelling possession fashions for residents aren’t unprecedented however stay within the minority due to the various components wanted to make them work – particularly market location, based on Liberty Senior Residing’s director of gross sales and advertising at The Peninsula, Paige Crone.
“We actually need to give them a chance to proceed to personal or fulfill their dream to personal one thing in downtown Charleston,” Crone advised SHN. “Folks love the fairness mannequin as a result of it retains their property worth collectively.”
Crone famous that potential residents have flooded the neighborhood with inquiries, with Liberty having pre-sold 1 / 4 of the neighborhood’s models inside the first week of availability. Among the many neighborhood’s 75 ground plans, 18 varieties are already bought out and three condominium models have been bought since gross sales began final month, Crone stated.
Sooner or later, Crone envisions the equity-based possession mannequin turning into extra commonplace within the senior dwelling business as a result of sort’s capacity to create worth and hold wealth inside a household akin to typical homeownership.
“That is constructing a legacy,” Crone stated. “Our slogan is location, luxurious and legacy as a result of that is one thing that may be handed down and is an funding in your future and your loved ones’s future,” Crone stated.
One other profit seen early on within the pre-selling interval is that the equity-based mannequin is skewing a lot youthful than typical Liberty Senior Residing communities. Operators all through the area are attempting to find out the fitting method to draw youthful residents, and this possession construction might assist enhance that, Crone stated.
The neighborhood will embody month-to-month charges for issues like utilities and different providers at an all-inclusive charge. The primary move-ins are anticipated in 2027. Residents should be 62 and older to dwell locally.
“Operators have to take a look at all of the variables and see if this mannequin is an effective match,” Crone stated. “I hope that we’ll see extra of this and our firm as a result of we really feel prefer it’s actually been an awesome alternative for us.”