Senior Vice President of Buckner Retirement Services Charlie Wilson and Ventana by Buckner future residents Kirk and Kendall Hagan spoke about the new trend of high-style senior living communities.
Original source: Fox Business
Ventana by Buckner: Luxury & Value for Retirement
Source: The Consumer Team (1080 KRLD Radio)
(DALLAS-FT. WORTH, TEXAS – Consumer Team News) The corner of Central Expressway & Northwest Highway is getting ready for a big change. Ventana by Buckner, twin 12 story luxury high rise towers, will offer DFW residents a new concept in retirement living. Consumer Team host Pete Thomson recently called Ventana ‘a game changer’ for retirement. Thomson added, “Ventana will change the way people retire in Dallas. It combines luxury and excellence with the integrity of Buckner Retirement Services.”
Judi and Dave Proctor are moving to Ventana by Buckner in Dallas when it opens in 2018.
PHOTO: MEI-CHUN JAU FOR THE WALL STREET JOURNAL
High Rises for Retirees – Wall Street Journal
New high-rise buildings are in the works for active seniors looking for retirement communities in the heart of the city.
In two years, Dave and Judi Proctor will move into a new high-rise building, just 10 minutes away from their current high-rise in Dallas. Located just north of downtown, their new home is close to theaters, museums and shops. The building offers weekly housekeeping, valet and concierge services and three restaurants, including an upscale steakhouse.
The Proctors—he’s 76 and she’s 71—will also have access to another set of amenities: If they ever need it, they’re guaranteed assisted-living and memory-care services, as well as skilled nursing and physical rehabilitation within the building. The high-rise, called Ventana by Buckner and scheduled to be completed in 2018, is a continuing-care retirement community, or CCRC.
In cities across the U.S., senior-housing operators and developers are targeting the younger senior market by offering condo-like services without a clinical feel. Active baby boomers “don’t want to feel like they are tucked away in some suburb” as they age, says Traci Bild, head of Bild & Co., a Tampa health-care consulting firm. “If you are getting that younger resident who is not 80 yet, that’s someone who is going to want that urban environment and pay for it.”
Ventana offers such a wide range of amenities and options that the Proctors were able to combine two apartments to create a larger, fully customized living space. Ventana’s typical entrance fees start at $405,500 and monthly fees start at $3,570
To live at Ventana by Buckner, the Proctors paid a $1.3 million buy-in fee for their three-bedroom residence. Then they’ll pay an additional $9,000 monthly fee once they move in. Health insurance may cover the cost of some medical services, if needed. The buy-in fee is partially refundable to the couple’s heirs and can be partially deducted as a one-time medical expense, but the property itself belongs to the developer, Dallas-based Buckner Retirement Services.
So while the Proctors avoid some of the pitfalls of homeownership, they also miss out on a potential return on their real-estate investment.
“We’re getting older, and this place is very good if we ever have a problem,” said Mr. Proctor, who adds that the couple plans to invest the proceeds from the sale of their current condo.
So far, about 84 of the 189 independent-apartment units have been reserved, says Charlie Wilson, executive vice president for Buckner’s retirement services. The average age of those who have signed up is 74, about almost 10 years younger than the company’s seven other traditional senior-living communities, he adds.
In Manhattan, a $246 million, 23-story senior residence called Maplewood Senior Living is being erected on the Upper East Side. After its scheduled completion in 2019, the high-rise will offer 215 units of independent living, assisted living and memory care. The design targets luxury buyers who love city living. The ground floor of Maplewood tower will have a coffee bar and farm-to-table restaurant.
The building will include a “sky park,” a terrace area that’s 150 feet above street level with extra-high see-through walls to avert accidental falls. An underground pool and wellness area will get sunlight funneled from a skylight at the top of the building.
“We’re really focused on people who can’t get outside as often,” said Frank Fusaro, a partner at New York-based Handel Architects, which is designing the building.
Maplewood Senior Living, which partnered with a real-estate investment trust, Omega Healthcare Investors Inc., took about a year to even get the deal off the ground. An urban high-rise project is “significantly more complex than a suburban deal,” says Gregory Smith, chief executive of Maple Senior Living, in part due to the complicated permitting and infrastructure requirements in New York.
Maplewood Manhattan development doesn’t have the CCRC financial model, with tiers of care that change as residents age. Instead, the company will offer a rental model, charging monthly fees from $12,000 to $18,000 without an additional buy-in fee. The company owns 12 senior-residence developments in the U.S. and is now looking to build similar communities in Los Angeles, Seattle and Chicago.
Some condo developers have turned to senior housing after the recession, citing more demand from older homeowners in the luxury market.
Kalakaua Gardens, a $75 million senior-housing tower in Honolulu’s Ala Moana neighborhood outside of Waikiki, will open in July. It includes 164 independent- and assisted-living suites, along with food and health services for residents. Each of the 10 independent-living floors includes a communal living room shared by 12 units, says general manager Steve Nawahine.
The building, developed by San Mateo, Calif.-based Island Paradise Investments, will be at capacity within the next six months, he adds. Kalakaua Gardens doesn’t have a buy-in fee; rental prices range from $4,500 to $9,000.
Martha and Stanley Maebori plan to move into Kalakaua Gardens next month. The location means Ms. Maebori, who is 75, can still be active outside the home with shopping and seeing friends, even as her husband, who is 73, spends more time indoors, she says. Oversized windows inside the units have either mountain, city or ocean views, and the building is close to shopping areas and the beach. She says she’s excited to be part of a senior community. “Retirement wasn’t a thing that I would look forward to years ago,” she said.
To be sure, there are downsides. In addition to downsizing to fit into the unit, Ms. Maebori isn’t sure how to handle the influx of new neighbors and having less privacy than she is used to in her townhome. Most entertaining has to be done outside of the home, since units are only equipped with kitchenettes, she says. And without a yard, she’ll need to stop gardening.
Just three days after receiving a brochure in the mail, Tom Gibbs sent in a $100 deposit to get on the waiting list at Seattle’s Skyline, a continuing-care retirement community with a 26-story apartment tower and 13-story health-services tower that opened in 2009.
Three years later, Mr. Gibbs, who is 85, and his wife Jean, 82, moved in. The couple paid a $839,000 entry fee and now pay $5,900 per month to live in a two-bedroom unit on the 25th floor. Today, there’s a five-year waiting list for the largest two-bedroom units, which measure from 1,100 to 1,534 square feet, according to the CCRC’s developer, Seattle-based Presbyterian Retirement Communities Northwest.
The central location means the couple is close to three major hospitals, museums and the public library—a change from the 50 years the Gibbs spent in the suburbs, he says. Inside, communal areas provide plenty of opportunities for socializing, says Mr. Gibbs, a retired engineer who is on the building’s science and technology committee and helps to organize educational presentations in the building’s auditorium.
“Here everybody is a friend and every night is a dinner party,” he said.
To read the article online, go to wsj.com.
Cutting-edge partnership offers innovative opportunities for healthy aging
DALLAS (MAY 24, 2016): Ventana by Buckner, a Life Care Community scheduled to open in North Dallas in 2018, is pleased to announce Technogym as the selected fitness equipment for Ventana. In alignment with their dedication to resident’s health and happiness, Ventana has selected Technogym for their cutting-edge equipment, emphasizing fitness as a necessary component of wellness, and highlighting the role an active lifestyle can have on the aging population.
“We’re making it a top priority to create an that promotes the overall health and wellness of our residents – both mentally and physically,” said Charlie Wilson, President of Buckner Retirement Services. “From an array of culinary selections, volunteer opportunities, and cultural pursuits, to a state-of-art-fitness and wellness center, on-site spa and salon, heated indoor pool and movie theater, this high-rise community is perfectly equipped to handle the diverse and evolving wants of the active senior – those with busy lives, second homes, or who travel extensively for business or pleasure.”
According to the Better Aging Study, which targeted a 12-month physical activity program focusing on well-being and daily functioning among seniors, the benefits of exercise include:
- Reducing muscle weakness as people age
- Improving strength, power and motor control as well as performance in common daily activities
- Changes in structural and contraction specific factors
- Recovery of several motor functions
Ventana by Buckner was featured on Good Morning Texas (WFAA) in a story about the new style of senior living in Dallas.
Buckner Senior Living has revealed new renderings of its unprecedented high-rise senior living community, Ventana by Buckner, and has opened the Information Center for the 189-apartment community. Ventana by Buckner is scheduled to open in late 2018 in Dallas’ Park Cities area.
Following its March 2014 announcement, Buckner Senior Living staff members have been busy working with prospective Ventana by Buckner residents, including Priority Club members who have the opportunity to reserve their apartment and provide input on its design and amenities. A fully staffed Information Center featuring a 3-D model, video virtual tour, full renderings, and site and floor plans is now open in One Lincoln Park Building, Suite 725 at 8401 North Central Expressway in Dallas. The phone number is 214.234.1035.
Ventana by Buckner architect D2 Architecture won the Design for Aging Review as a Published Project in 2015. They were notified of the win earlier in July.The Design for Aging Review is a joint effort of the American Institute of Architects and LeadingAge (the national association of not-for-profit senior living organizations). The Review includes a juried exhibition and encompasses a broad view of facilities designed for senior living, including Continuing Care Retirement Communities like Ventana. The Review seeks to demonstrate architectural design trends and recognize excellence, and to serve as a reference for providers, developers, users, advocates, architects and other design professionals of senior living.
Buckner International today announced plans for Ventana by Buckner, a 314-apartment North Dallas senior living community scheduled to open in 2018. Ventana by Buckner will further the missions of both Buckner International and Buckner Retirement Services.
“For more than 135 years, Buckner International has been dedicated to transforming lives and building strong families,” said Albert Reyes, president and CEO of Buckner International. “Through Buckner Retirement Services, we’re able to enrich the lives of senior adults and their families while they maintain independence and dignity. Ventana by Buckner will build upon our core values by serving senior adults and offering residents opportunities to thrive.”
The twin 12-story high-rise buildings, designed by D2 Architecture of Dallas, will measure approximately 450,000 square feet and sit on nearly three acres of land in Dallas’ North Park neighborhood, just west of North Central Expressway and across from NorthPark Center. Ventana by Buckner will be a continuing care retirement community (CCRC) with 182 independent living residences, 36 assisted living apartments, 24 memory care apartments, 48 skilled nursing apartments and 24 short-term rehabilitation apartments.
In addition to the 314 apartments, the community will include three dining areas – formal, casual and bistro; a wellness center featuring a fitness room with weights, cardio machines and a host of other amenities, including a pool, aerobics room, chapel, movie theater, roof terraces with gardens, busi- ness center, library, day spa, 24-hour security and indoor parking.
Even before its groundbreaking, Ventana by Buckner is hosting information- al meetings and accepting deposits for its Priority Club. Priority Club mem- bers will have the opportunity to reserve their apartment, have priority choice when selecting their residence, and have input on its design and amenities. Interested parties can schedule a meeting with the Ventana by Buckner team by calling 214.888.2084.
As a Buckner Senior Living community, Ventana by Buckner will focus on enriching the lives of senior adults through strong Christian values. The mis- sion of Buckner International and all of its ministries is to transform the lives of children and enrich the lives of the senior adults they serve. Buckner be- gan serving the senior population shortly after the Buckner Orphans Home was established in 1879. In 1954, Buckner opened its first CCRC in Dallas, providing a more formalized approach to serving seniors.
Throughout Buckner’s history, its purpose as an organization has been to meet the needs of vulnerable people “from the beginning to the ending of life.” Today, Buckner International is a global faith-based ministry that re- mains true to its founder R.C. Buckner’s vision of serving people of all back- grounds and walks of life.
About Buckner Retirement Services:
Buckner Retirement Services, Inc. is one of the largest not-for-profit senior living organizations in Texas dedicated to enriching the lives of senior adults and their families by promoting an active, healthy Christian lifestyle while maintaining their independence and dignity. Buckner Retirement Services is part of Buckner International, a global faith-based ministry serving more than half a million people each year in the United States and worldwide.
About Buckner International:
For more than 135 years, Buckner International has been transforming lives through hands-on ministry, serving the most vulnerable from the beginning to the ending of life. Buckner is one of the oldest and most unique faith- based social service organizations of its kind, serving half a million people each year in the United States and worldwide.