There has been a lot of buzz lately about the continuing care community which is beginning construction in Pleasanton in May. This week we had the opportunity to spend some time with Troy Bourne, vice president of planning and development for Continuing Care Communities, the company that is building and will operate Stoneridge Creek.
Stoneridge Creek is the biggest project since the construction of the Hacienda Business Park back in the 1980s. Stoneridge Creek will have a campus covering 50 acres on the East end of Stoneridge Drive. This development will not only offer a valuable housing alternative for Seniors, but many jobs for the community as well.
The city of Pleasanton has designated 22 acres of parkland immediately adjacent to Stoneridge Creek ensuring a tranquil environment. The average age of residents who move into a continuing care community is 70. Prospective residents must be 62 years old or older (or have a spouse who meets this requirement), must be capable of independent living upon move-in and be financially qualified.
What is a Continuing Care Community like Stoneridge Creek? It offers multiple types of care on the same campus. Therefore, a resident who moves in as an independent resident, may become ill and will be taken care of in the assisted living or skilled nursing area of the campus. The fees for the community stay the same no matter what level of care is needed. Couples can stay together, when one is well and the other ill. Condos, duets and houses are available.
Most Continuing Care Communities have a long waiting list. Those who qualify, are so fortunate to have this community being built right here as the current waiting list is just until the community is built. In fact, people from all over the Bay Area have already taken advantage of this opportunity. Two thirds of phase 1 is already reserved. These are people who have put down their 10% deposits ensuring they will be the first residents when the development is complete in the Spring of 2013.
How much does it cost to live here? There is an entrance fee ranging from $200,000 to over $1 million. This entrance fee is per unit, therefore, couples only pay 1 entrance fee. This amount is repayable up to 100% the first year and then decreases by 5% each year until it is frozen at 75%. Therefore, if a resident decides to move out or passes away, they or their estate will get back a minimum of 75% of the entrance fee. The monthly fee is $2,000 + per month. This fee includes nearly everything: 1 meal per day, electricity, maintenance to your home, grounds, emergency care all the amenities, the list goes on and on. How great would it be to only get letters in the mailbox instead of bills? To be surrounded by friends and have over 200 activities a month to choose to participate in? That is the lifestyle Stoneridge Creek offers. If you are wondering if this community would be a good move for you and your loved one, go by their office located on the corner of Gibralter and Stoneridge in Pleasanton or visit their website at www.StoneridgeCreek.com.