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Arbor Trace Community Continues to Attract Seniors
The continued popularity in the concept of resident ownership has fueled sales of active adult condominiums throughout these uncertain times
NAPLES, FL, March 11, 2010 /Seniors PR News/ -- The active adult condominium concept is showing signs of a healthier recovery despite a slow down in move-ins encountered by many senior living communities.
At Arbor Trace, a luxury active adult community located in North Naples, a continued popularity in the concept of resident ownership has fueled sales of the residences throughout these uncertain times.
According to Bernie Smith, chief operating officer with Promatura Group, a nationally recognized full service marketing research company for the 50+ consumer, the long-term future for condominiums with services is going to be a very attractive option for retirement.
Smith, who studies the feasibility of senior communities across the country, cited that retirees and the next generation of retirees will find the flexibility and the ability to the control the decisions that are made for the community more desirable than the CCRC model.
"In the short run they have been affected by the glut of condominium inventory," he said. "However, as other segments improve so will condominiums with unbundled services for the senior market."
Arbor Trace, which offers a variety of residential styles including villas, mid-rises and a high-rise, fills a unique niche in Naples' senior living by offering a condominium concept with maintenance-free living combined with the flexibility of a club program for various services as well as a health care component.
At the 40 acre site along Vanderbilt Drive, there is a centrally-located 36,000 square foot clubhouse with a full-time social director and a full-service restaurant.
Because Arbor Trace is a condominium, the financial and medical pre-screening requirements found in entry fee, continuing care communities is not a condition of ownership, explained Dorothy DeMichele, Seniors Real Estate Specialist at Arbor Trace.
"Here, residents control the community's destiny," explained Don Boultbee, the new president of the Arbor Trace Board of Directors. "You aren't giving up equity in exchange for peace of mind. We have a vested interest in the future of this community because it is our home and we want it to continue to be attractive to those who will move here in the future."
DeMichele also noted the advantages of the Arbor Trace fee simple ownership, "Your condominium residence can be sold or rented at anytime with the owner taking advantage of the appreciation; no different than in owning a single family home. There is no second person fee for an additional occupant or couple. This is a concept that is much easier for children of residents to understand."
While Arbor Trace has assisted living available through the on-site health center of Arbor Glen, residents only pay for its use when and if needed, DeMichele pointed out. Another advantage of Arbor Glen is that many long-term care insurance policies are accepted.
Elsewhere in the country, senior style condominium communities are also rebounding. At Princeton Windrows, a luxury 55+ condominium community in Princeton, N.J., which offers services, recent sales have noticeably increased, according to Kristin Kutac Ward, of By Design Solutions, manager of Princeton Windrows.
"With seven closings scheduled this quarter, we're finding greater interest in the larger villas and townhouses. Our residents value the concept of home ownership without the burden of home maintenance. They want to control their assets and make their own personal healthcare choices."
About Arbor Trace
Located on the west side of Vanderbilt Drive, Arbor Trace is now selling the final phase of two- and three-bedroom condominiums in Tower Pointe, the high-rise residential building. Resident-owned Arbor Trace stands out from other Naples retirement options by offering pride of home ownership combined with the peace of mind from a continuum of care.
A wide range of amenities include panoramic views of the Gulf and Little Hickory Bay, fitness center, library with high-speed internet access, heated pool and spa, tennis courts, putting green and walking trails. Club memberships offer residents flexibility depending on personal preferences ranging from dining, housekeeping and laundry services to home maintenance and transportation. For more information, please call (239) 598-3490 or visit www.ArborTrace.com.
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