Affordable options for independent living
Their Space
By Briana Easter
Suzan Morris’s mother maintains a busy schedule: puzzle nights, pot luck dinners, wine and ice cream socials are just a few activities she enjoys—all offered at her retirement community.
“There’s always ladies gathered in the living room sitting around and chatting,” says Morris, whose mother has an apartment at The Atlantic at Twin Hickory. “It gives them a better social outlet than a community that didn’t cater to people their age.” Socialization is an integral component of these communities and perhaps one of their biggest perks.
“The plus of [these communities],” says Bill DeWorken, President of Epoch Properties, which manages four independent living communities, “is once [seniors] move in … they find friends. Sometimes it is a hard sell to get them to move. But for [those] who have parents who want to move into a facility and still want to be on their own, they are great communities for them to live in. Once they move into an apartment it becomes their home and they treat it as their home.”
Because these apartment complexes participate in a tax credit program, income restrictions apply. (Age restrictions apply as well. Depending on the community, residents either have to be 55+ or 62+.) “The purpose of the program is to target renters whose income is below the area median,” says Morris. An applicant’s financial status is evaluated for eligibility. Any income, not just employment or Social Security but also money received from a relative if on a consistent basis, is considered. The income from assets, such as life insurance, stocks, bonds or CDs, are lumped into the sum as well.
“[There are] no restrictions on how many assets you can have but the way the program works [is] we have to determine how much income you gain from assets,” says Stephanie Clay, Regional Property Manager with
Drucker & Falk Real Estate, who manage The Atlantic at Twin Hickory and
The Atlantic at Charter Colony. So, if your assets happen to tip you over the set income requirements—even if by a mere $1—then, well, you do not qualify, as DeWorken has had to explain to a few disgruntled potential residents.
The upside to this housing option is the apartments are designed with seniors in mind with handrails in the halls, elevators, walk-in showers, optional alarm systems with fire, rescue and police available at the push of a button—even knobs on the front of stoves so residents don’t have to reach over hot burners. Mailboxes and trash disposal are located indoors so residents aren’t exposed to hazardous weather conditions. Other perks include an on-site beauty/barber salon, laundry rooms and storage areas. Transportation to the grocery store, doctor’s appointments or senior outings is sometimes provided. One drawback, however, can occur if the community contracts out transportation rather than having an on-site vehicle. With roughly 200 apartments to a complex, a vehicle with limited seating capacity, scheduled only periodically, can leave seniors feeling dependent on their children for taxiing. (Keep in mind, though, that amenities vary by location, so it is important to find the housing option that meets your parents’ needs.)
But residents don’t have to sacrifice luxury for a retirement community. In fact, based on the rent, it’s a steal. Most communities have a computer room with free Internet access (The Atlantic at Charter Colony offers a class in which residents can learn how to use Gmail, among other things), a library, comfortable lounges with cozy fireplaces and card rooms with stacks of games in the corner, checkers sets on the tables. The area’s newest senior community,
The Atlantic at Brook Run, is located near
Lewis Ginter Botanical Gardens, a Ukrop’s grocery store and a golf course.
In the current economy, downsizing is a reasonable decision for seniors, especially for those living alone. An affordable retirement community just might be the right alternative to the in-laws’ moving in with you.
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Briana Easter is the editorial assistant of Boomer Life.
