Huge senior complex opens in Fairfax
Woodleigh Chase, the massive new independent-living complex on Braddock Road in Fairfax, has already welcomed 25 residents, although it will take five years to complete the build-out. The development is restricted to people at least 62 years old.
When completed, the 43-acre Woodleigh Chase complex will have 1,500 units in nine buildings and two clubhouses, says Sales Director David Taylor. It’s one of 23 senior communities developed and managed by Erickson Senior Living.
The first three completed buildings at Woodleigh Chase have 262 apartments with 19 different layouts.
Residents don’t lease or buy their unit, Taylor explains. They acquire “the right to occupy” by submitting a payment ranging from $417,000 to $1.16 million, depending on the size of the apartment. Eighty percent of that amount is refundable when residents leave.
Residents also pay a monthly fee based on unit size – ranging from $3,300 to $5,000 – which covers utilities, maintenance, and amenities. There is no additional charge for pets.
Residents who develop dementia or serious health issues will be able to move into the 175-unit continuing care neighborhood at Woodleigh Chase, which will provide assisted living, skilled nursing care, and memory care. That area is expected to open in four or five years, Taylor says.
The Emerson Clubhouse is already open. It has three restaurants – the Blue Jay Pub, Cardinal Café, and the Providence Restaurant. Food is included in the monthly fee, but alcohol is extra.
The clubhouse has an indoor pool with chair lifts, fitness rooms open 24 hours a day, a salon, library, art studio, classrooms, theater, game room, open courtyards, and an outdoor dog run. There’s a medical office with a doctor on site during weekday business hours and on call at other times.
Related story: Supervisors approve huge complex for seniors
The residents will decide what kind of programs they want, Taylor says, noting a resident already formed a library committee.
Apartments range from 917 square feet for a one-bedroom, one-and-a-half-bathroom unit to 1,841 square feet for a unit with two bedrooms, a den, and two and a-half bathrooms.
All the apartments have screened porches, washers and dryers, and 24-hour emergency call systems. Residents can get onsite housekeeping for $35 an hour or bring in their own cleaners.
Among the residents who already moved in, the average age is 79, and about half are single, Taylor says.
Woodleigh Chase is being built on the site of the old Northern Virginia Training Center. It’s next to the Virginia State Police Station, a new Department of Motor Vehicles facility, and a new building offering affordable, independent-living apartments for people age 62 and older.
That building, called Ilda’s Overlook, is on land proffered to Fairfax County by Erickson Senior Living and was developed by the Arlington Partnership for Affordable Housing (APAH).
Related story: Ilda was a mixed-race community on Little River Turnpike
Ilda’s Overlook has 80 one and two-bedroom units ranging from 647 to 1,005 square feet. Twelve units are already occupied.
Rent ranges from $779 to $1,946 a month, depending on the size of the apartment. Tenants must meet certain income limits to qualify.
The building has a fitness center, multipurpose room, business center with computers, and a wellness room where doctors and therapists can meet with residents, says Community Manager Yelice Arevalo. All apartments have washers and dryers.
The building’s name and two of the three model apartments, “Matilda” and “Blacksmith,” reflect the building’s location near the former community of Ilda. The third model, the “Braddock” is named for the building’s location, at 10055 Braddock Road.
Thank you for reporting this information. I was not previously aware of this new development.
In a few more years (fewer than I would like to admit), if I am still around a place like any of the senior living buildings you report on here may be an attractive place to live.
I thought you were in high school.
Thank you for your honesty Abe. Good day to you.
It’s right across the street from the Fairfax Memorial. I think it’s obviously a marketing ploy. 😅
How so
An upfront payment of 417K to 1 mil that they keep and then monthly rent of $3300 to $5000? That is insane! Given that the average age is 79 (now) how many years will someone live for that 20% fee?
The math and practical monthly cost is crazy high on this. They will be laughing all the way to the bank with the take on this. This is a freaking apt. In Fairfax, not Club Med.
I recall the phrase there is a sucker born every minute! Wow!
The pricing system is a complete tip off. They are seeking to cheat seniors out of their $$$….
Not sure it is cheating…the details are provided up front. What it is– just a REALLY BAD DEAL– may not be apparent to those who get enamored of a shiny new club room and pool et al. Marketing is the second oldest profession. Who get to hold the $417,000 to $1,000,000 you provide them up front? The “company.” Are they going to pay back your huge chunk of change with interest accrued over time–certainly not. Are they going to pay back your chunk of change down the road? Perhaps–if they don’t fold somewhere down the road and then good luck getting a penny out of them. What do they need the huge up-front fee for? To build more units? To pay large executive bonuses? To keep the conga line going? It is almost certainly the first one–growth. Well, it may work out-it may not.
This kind of up-front fee structure and monthly cost is really clever actually, probably seductive to those with a fair amount of money who are looking for something they like, and just a boon to separate people from their money. The annualized cost from the montly rent is about a median of $50,000. I hope someone who has handed over their huge upfront chunk–possibly from a home sale which is the largest asset many retirees have–has thought through how their social security, pension if they have it, and investments are going to cover that $1 million and a lot more over 20 years.
All for the right “to occupy” a unit in a monoblock complex of apartments across the street from a cemetery–it is really quite funny actually. I can’t believe folks are signing up for this?!
And the incentives–for the company–are diametrically opposed to those of the residents. Most apartments–and make no mistake, these are not condos, you “own” NOTHING–like to have long term renters as churn adds extra costs.
Turnover makes these people more money! The more rapid, the merrier. A fool-excuse my cynicism-person, rather, who hands over a $750,000 payment and dies one year later has just gifted the company with a $150,00o windfall. No wonder you have to be 62 to move in. They must be ELATED that their average age right now is 79. Churn em and burn em baby!!!
It takes, cool, clever financial sharpies to design a pricing scheme this twisted. And they’ll probably tell you they are in this business to help old folks. Got it!….
Sounds a lot like Greensprings in Springfield, also an Erikson. I’ve been over there a lot in the past decade, helping to run one of the entertainment programs. I know a few people who are residents. The place is very nice, and the residents love it. One of them explained the deal to me as basically “hand over that nice house you own and all your money, and live here instead”. The are happy.
I’d rather drive off a cliff, but I’m glad they’re happy.
I think it is a need to find “community” but it is an EXORBITANT, dare I say usurious, price to pay. Erickson Senior Living was bought out of bankruptcy in 2009 by Redwood Capital Investments LLC, which is an investment vehicle controlled by Maryland billionaire Jim Davis.
He has found a nice real estate niche making a lot money off of old people who have it and are willing to give up a lot of it. If you look at the reviews from Greenspring for instance you will find several disturbing ones around care provided by in-house doctors, people who need to transition to a greater level of care, and people having problems with getting their funds back etc. Most people like it until they have a problem. Isn’t that the American way-put a shiny spin on things, market the heck out of that shiny object and then operate in our normal ruthless fashion.
If these are the good guys in the business, wow, just wow. My view is that it is a good investment play (for Redwood Capital I mean) without any altruistic bent at all. Fair enough, but nothing there to admire at all.
What do they mean by 80% refundable? What are the conditions?