The Concept, Benefits, and Future of the Continuing Care Retirement Community
July 22, 2024 | News | Reading Time 3:00 Minutes
Management of Senior Living Model Weighs in on its Benefits
Q&A with Kristopher Brown, Executive Director of Millcroft Living, Newark, Delaware
1. What’s the concept behind a continuing care retirement community (CCRC), and why have they become so popular?
The CCRC is a great option for planners. In fact, many CCRCs have adopted a new industry term, Life Plan Community, because that is exactly what an older adult is doing when they choose a CCRC. They’re planning for life today, as well as their future care and service needs.
When individuals move into independent living at a CCRC, they can live truly active lives, make new friends, pursue their favorite hobbies and identify new ones. The amenities and services available to them include meals, activities, programs, and more, all to be enjoyed while having left behind the burdens of home ownership. CCRCs offer increased levels of care within the same campus so that residents can transition to receive additional assistance should their needs change. This is without having to leave the community they love. If a married couple living at the community has different needs, the CCRC can address both levels without either one having to leave the community. And CCRCs provide a sense of security to family members, knowing that their loved ones will be cared for now and in the future.
2. What does the CCRC model look like at your community specifically?
At Millcroft Living, we’re happy to be able to provide apartment options for the active, independent older adult; a licensed assisted living neighborhood; and a health care center where we provide short-term rehabilitation as well as long-term, 24-hour skilled nursing care.
3. What are the economics of a CCRC (fee structure, etc.)?
While many CCRCs require a significant up-front entrance fee, Millcroft Living offers a flexible rental contract with a community fee equal to just one month’s rental rate.
4. Any new or recent trends in this style of retirement living?
Communities like Millcroft Living and sister communities Shipley Living and Foulk Living in Wilmington are often compared to beautiful, all-inclusive hotels. We’re very focused on whole-person wellness which can be achieved through fitness spaces and classes, lifelong learning initiatives, interesting programming and classes, fresh and healthy restaurant-style dining, and abundant opportunities for socializing and volunteering. We’re renovating residences and shared spaces with modern finishes and open concept living. We’re excited to welcome the boomer generation and meet their wants and needs for flexibility and freedom.
Life Care Services ®, An LCS Company became the management company for Millcroft Living, Foulk Living and Shipley Living three years ago. With more than 50 years of experience in senior living, LCS provides operations, marketing, and sales management for CCRCs, stand-alone assisted living, memory care, and rental communities nationwide. Our community has access to their expertise, experience, and special programs, and are able to stay on top of trends and new ideas.
5. Do you foresee more CCRCs being built? Are they here to stay?
New communities are being built to include independent living and assisted living or assisted living and memory care. However, we are not seeing the addition of new health centers providing the skilled, 24-hour nursing level of care. This is due primarily to increased regulations, nursing staff shortages and decreasing reimbursement.
Nestled in a vibrant neighborhood in Newark, Delaware, Millcroft Living is a full-service, rental, continuing care retirement community offering independent living, assisted living, skilled nursing, and rehabilitation. Millcroft is managed by Life Care Services®. For additional information, visit MillcroftLiving.com or call 302/204-1088.