Western North Carolina sees first newly built CCRC in 20 years

Legacy at Mills River, projected to open in late 2024, would be the first new persevering with care retirement group to be inbuilt western North Carolina in additional than 20 years.

“The first progress methods for not-for-profit suppliers nowadays are enlargement initiatives (thus including items to present communities) and progress via affiliations or acquisitions. New CCRCs nowadays are uncommon, however the general variety of new communities is decrease than it was 10, 15, 20 years in the past,” Lisa McCracken, director of senior dwelling analysis at specialty funding financial institution Ziegler, advised the McKnight’s Enterprise Day by day.

It’s essential to notice that different CCRCs have opened in western North Carolina lately, McCracken  mentioned. Nevertheless, Legacy at Mills River Director of Gross sales and Advertising and marketing Elizabeth Ford advised the McKnight’s Enterprise Day by day that attributable to pretty latest adjustments in state regulation, Legacy at Mills River is the primary group in western North Carolina to be constructed from the bottom up in twenty years.

CCRCs in North Carolina are regulated below the state Division of Insurance coverage, which has “fairly strict regulatory oversight for CCRCs,” she mentioned.

A preliminary certificates from the state permits Legacy at Mills River to gather deposits from future residents, enabling the developer to point out the state {that a} demand exists for the group. 

“Whereas 70% of our members at the moment dwell in western North Carolina, Legacy is attracting individuals from all around the nation, with rising curiosity from New York, Florida and California,” Ford mentioned.

Retirement is a high business in western North Carolina, second solely to tourism, she mentioned, including that what units Legacy at Mills River aside from different CCRCs within the space is that residents will personal, not hire their properties.

“All of our properties are offered below the North Carolina Condominium Act. That makes it very totally different out of your conventional CCRC. …We’re providing one thing distinctive and totally different that’s actually by no means been supplied in our a part of the state,” Ford mentioned. 

House costs begin at $500,000. When the 112-acre campus opens in 2024 , residents can have entry to personal, licensed house care; assisted dwelling; reminiscence care; and expert nursing, if wanted. Facilities will embody a well being middle, 5 eating venues, a movie show, performing arts middle, a health middle and spa, and pickleball courts, a canine park, group gardens and a lake.