Understanding senior housing options as America grays

This content is sponsored by Watermark Communities.

America’s population is graying. By 2040, approximately one in five Americans will be age 65 or older, a marked increase from one in eight in 2000, according to the Urban Institute. As baby boomers enter their retirement years, there is a growing desire to stay close to adult children and their families as well as maintain close friendships and other connections that have been cultivated over decades. Rather than uprooting and relocating to a retirement community several states away, many seniors in the region are opting to explore retirement living in the D.C. metropolitan area.

Adult children are often tasked with helping a parent or loved one move. Navigating the landscape of senior housing options can be daunting, as there are many levels of care and financial models to understand.

  • Independent living is designed for the downsizing demographic, those who are ready to do away with home maintenance and enjoy the social benefits of living near others in the same age demographic. As the name implies, independent living residents do not require assistance with daily tasks and enjoy autonomy.
  • Assisted living communities offer residents person-centered care, on-demand assistance, enrichment and social benefits. According to AHCA/NCAL, “Assisted living is part of a continuum of long term care services that provides a combination of housing, personal care services, and health care designed to respond to individuals who need assistance with normal daily activities in a way that promotes maximum independence.”
  • Further down the continuum of care, memory care is a special category of senior housing devoted to caring for those with Alzheimer’s or dementia.
  • Continuing care retirement communities (CCRCs) or life-plan communities typically require a sizeable entry fee in addition to monthly service or maintenance fees. A study by CBRE quoted the average entry fee for CCRCs at $329,000 but noted it can be more than $1 million.  Once the entry fee is paid, monthly payments run between $2,000 and $4,000.

The co-founder of Silverstone Senior Living, Denny Alberts, had a vision to reimagine assisted living through the lens of high-end hospitality. Drawing on his experience developing luxury hotels such as the Ritz-Carlton in Dallas, Texas, Alberts sought to elevate senior living into a desirable experience that encourages people to thrive after retirement. Through a partnership with acclaimed operator Watermark Retirement Communities, Silverstone Senior Living is introducing The Élite Collection to the D.C. metropolitan area.

The goal of The Élite Collection is to shape a new model and redefine assisted living by creating boutique senior living communities rooted in hospitality and integrated wellness. These communities offer impeccable service, innovative care and pioneering programming and follow an ethos that focuses on renewal, rather than retirement.

Rather than requiring a hefty upfront deposit, The Élite Collection offers a variety of living options in a rental model, with no long-term commitment.

The Élite Collection currently consists of three communities in Virginia and Maryland, with more locations in development.

  • The Providence, located at 9696 Sprague Avenue in the emerging MetroWest neighborhood in Fairfax, Virginia, offers assisted living and memory care. The Providence welcomed its first residents in March.
  • The Seneca, an assisted living and memory care community situated next to King Farm at 55 W. Gude Drive in Rockville, Maryland, will open its doors in July.
  • The Landing, will open at 2620 Main Line Boulevard in Alexandria, Virginia in early 2022, part of National Landing’s dynamic Potomac Yard neighborhood. The Landing will be the first community to offer independent living in addition to assisted living and memory care.

Private studio, one- and two-bedroom residences are available on a monthly rental basis. Apartments feature modern kitchenettes, high-end appliances, upscale finishes, tall ceilings and ample natural light. Private balconies are available in certain units.

As hospitality is a cornerstone of Silverstone’s guiding philosophy, communities in The Élite Collection offers a wide variety of amenities such as 24/7 concierge services, chef-driven restaurants, salons, day spas, art studios and more, along with multiple outdoor spaces including landscaped gardens, terraces and rooftop seating.

Watermark’s highly-trained associates provide custom support, personal assistance and award-winning programs. A signature program, Watermark University, provides an opportunity for residents, associates, and family members to continue learning with customized courses and symposiums based on personal passions, experiences, and areas of interest.

EngageVR offers a virtual reality exercise that keeps the brain active while providing uplifting and educational experiences using an Oculus headset.

With a mission of restoring dignity to dining for those with cognitive, physical or neuromuscular challenges, Gourmet Bites Cuisine is a pioneering process that transforms menu items into nutritional, visually pleasing and easily hand-held portions.

To learn more, visit The Élite Collection.

The Landing– Exterior

The Landing– Rooftop

The Landing– Rooftop

Providence– Exterior

Providence– Bistro

Providence– Private Dining

Providence– Fitness Center

Providence– Memory Care

Seneca– Courtyard

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