Demand for homes in active adult 55+ communities is on the rise. Behind this are the baby boomers, who account for about a quarter of the U.S. population. Born between 1946 and 1964, baby boomers started hitting retirement age a few years ago, and in the next decade, they'll drive up the number of retiree households by about 10 million.
If you're retiring soon in North Carolina, you may be wondering how to navigate the crazy, retirement home real estate market. According to seniorguidance.org, the U.S. average cost for assisted living is just over $3,600 per month, and Durham Area, NC's assisted living is lower than the national average, at approximately $2,800 monthly.
The History of Croasdaile Farms
Living in Durham offers a little of everything, including a comfortable climate, great cuisine, a thriving arts district, and access to some of the best healthcare in the country. If you're looking for quality assisted living in Durham real estate, we can steer you towards a great community that will soon be seeing an expansion. You'll fall in love with Croasdaile Farm, and the adjacent Croasdaile Village homes for sale.
Set on 1,000+ acres of lush forest and grassy meadows, Croasdaile Farm was originally one of Durham's most prosperous working farms. In 1987, the development plan for Croasdaile Farm community was approved. Over the next thirty years, over 400 home sites were developed, over 260 apartments, and over 50 luxury townhomes constructed.
In 1994 Croasdaile Village retirement community welcomed a further 600 residents. With a current 245 apartments, 101 cottages, 56 personal services apartments, 30 licensed assisted living units, and 110 licensed skilled nursing beds; the directors of the Croasdale Village retirement community have announced a $70 million expansion project.
What Does The Croasdale Farms Expansion Mean?
The project includes construction of 17 new cottages and four new six-plex villas. There will also be an expansion and renovation of the current assisted living residences, with 18 new memory care suites.
Along with these retirement real estate opportunities:
- A new Wellness Center with swimming pool, hot tub, and spa will be added
- A larger Auditorium to enhance the scope of concerts and educational programs will be explored
- Exciting new dining venues will be added
- A new physical and occupational therapy center is anticipated
As of July 2017, sales of the new cottages and villas have begun. Entrance fees for the cottages at Croasdaile Village range from $230,000 to just over $280,000, and monthly fees for services and dining vary drastically from $3,800 to $5,000.
In a separate project nearby, construction is underway at The Lodge at Croasdale, a private-owned apartment community that will have 320 apartment units.
Finding quality assisted living in Durham, North Carolina is made easy when you trust Larry Tollen, REALTOR® and the team at MyNCHomes. Their expert advice doesn't end at buying and selling homes – they have years of market knowledge and want to help you find the retirement home of your dreams.Posted by Larry Tollen on