A new $27.6 million senior living apartment complex is coming to the corner of Leesville and Ray roads in North Raleigh.
Construction has begun on the Capital Oaks Retirement Resort, a 130-unit, three-story complex. The first wave of residents, who must be at least 55 years old, are expected to move in a year from now.
Steve Mueller, vice president of operations for Resort Lifestyle Communities, the Nebraska-based company behind the new complex, said the company is expecting to attract both longtime Raleigh residents as well as newcomers to the area, who may move to be closer to children or grandchildren.
The complex will not offer assisted living services, but renters can choose to have home health workers or other aides come into the community.
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“This is going to be their home,” Mueller said. “This is completely up to them.”
The community does not require residents to purchase a unit or pay an upfront fee. Instead, they will pay a monthly rent for a studio or 1-, 2- or 3-bedroom apartment. The company expects the monthly rents to range from $2,500 to $4,500. The rent includes dining options, transportation, utilities and other services.
Other nearby North Raleigh communities that cater to seniors include Magnolia Glen and Abbotswood at Stonehenge on Creedmoor Road, the Cypress of Raleigh at the corner of Strickland and Lead Mine roads, and Springmoor Life Care Retirement Community on Sawmill Road. Each community differs though, in terms of the financial investment it requires of residents and the levels of care it offers.
At the Cypress of Raleigh, for instance, residents own their condominium or home, pay a monthly fee and have access to all of the levels of care they may need. Other communities may require an upfront fee in addition to a monthly fee and offer some levels of assisted living.
Jeff Cunningham, director of sales and marketing for Resort Lifestyles Communities, said the company plans to emphasize what he called its resort-like feel to distinguish itself from other facilities. Residents have access to a theater, an on-site gift shop, fitness programs and other activities.
“It gives them the freedom to enjoy life,” he said.
The company also has facilities in Texas, Nebraska, Kansas, Missouri, Tennessee and Georgia.