“This model of senior living truly eliminates what can be a significant barrier for older adults wanting to make a move,” said Stephen Kennery, executive director of The Carrington at Lincolnwood. Under construction and slated to open later this year, The Carrington, which is located on a scenic campus in the heart of Lincolnwood, will offer independent living, assisted living, and memory care, all with simple monthly payments and no entrance fees.
“The fact that there’s no buy-in is key. With many retirement communities, residents have to make an enormous deposit to move in. That’s not the case in our rental community. Prospective residents no longer have to sell their home in order to be able to afford to move,” said Kennery. “Furthermore, they won’t have to tap into their retirement funds, and won’t lose any investment growth or tax deferments.”
Kennery said that despite the significant financial advantages there’s no trade-off in terms of diminished services. “We offer an amazing array of amenities including an indoor pool, fitness center, game room, hair salon, patios and courtyards, choice of dining venues, indoor and outdoor parking, scheduled housekeeping, transportation, 24-hour security, a city-operated EMT station and more.”
Moreover, unlike many rental communities, The Carrington offers different levels of care. “We provide independent living, assisted living, and memory support, all under one roof,” Kennery said. “Having advanced levels of care means that residents don’t need to look elsewhere should their healthcare needs change.”
Kennery pointed out that the fact that The Carrington is a rental community means that the staff will have to be on their toes. “We can’t woo prospects to move in and then not maintain our standards high once they’re here. We will have to keep providing the very best in services and amenities to ensure that our residents keep loving The Carrington, the place that they’ll be calling home,” said Kennery.
The first depositors at The Carrington will be members of the First Keys Club, and will receive a $1,500 credit towards moving expenses, a $1,500 credit applied to the community fee, and a $1,500 credit off the second month’s rent. In addition, members will receive a two-year lock on the rental rate as well as a capped increase thereafter for their entire residency. Other perks include the opportunity to host a welcome party, referral rewards of $1,000, free visits to the Style Salon, complimentary meals, and the ability to become a Carrington at Lincolnwood Ambassador.
See the story in Chicago Tribune.