Apartment Fee Options

Option I — Rental

  • Entrance fee is established by the market value of the apartment ($73,700).
  • Initial payment — Entrance fee for this option is 10% of market value of the apartment.
  • Monthly maintenance fee is $1,623 (for 2021).

Option II — 10% 90% Amortize

  • Entrance fee is $73,700.
  • Initial payment — 10% reverts to St. Paul’s.
  • 90% amortizes over 10 years.
  • Resident pays normal monthly fee — standard increases apply.
  • In a higher level of care the unamortized amount may be used to help pay for costs of care.
  • Example: Value is $73,700, entrance fee is $7,370 — reverts to St. Paul’s, $66,330 amortizes over 10 years.

Option III — 10% / 40% / 50% Amortize/Refund Combo

  • Entrance fee is $73,700 plus 50%.
  • Initial payment - 10% of entrance fee reverts to St. Paul’s.
  • 40% amortizes over 10 years.
  • Resident pays normal monthly fee — standard increases apply.
  • 50% of entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
  • In a higher level of care the 50% refundable amount and the unamortized amount may be used to help pay for costs of care. For Without Walls Home Care the same applies after 5 years of residency in The Colony.
  • Refund is 50% of the amount initially invested.
  • Example: Value is $73,700, entrance fee is $110,550 — $11,055 reverts to St. Paul's, $44,220 amortizes over 10 years, $55,275 refunded.

Option IV — 10% / 90% Refund

  • Entrance fee is $73,700 plus 90%.
  • Initial payment — 10% of entrance fee reverts to St. Paul’s.
  • Resident pays normal monthly fee — standard increases apply.
  • 90% of entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
  • In a higher level of care the 90% refundable amount may be used to help pay for costs of care. For Without Walls Home Care the same applies after 5 years of residency in The Colony.
  • Refund is the 90% of the amount initially invested.
  • Example: Value is $73,700, entrance fee is $140,303 — $14,003 reverts to St. Paul’s, $126,027 refunded.

2021 Terms

  • Market values for on-bedroom apartments range from $73,700 to $77,200.
  • A $1,000 deposit will hold an apartment for 30 days. Within that 30 days we will schedule an appointment to sign the Residency Agreement.
  • Initial payment — 10% Payment is due upon signing the Residency Agreement.
  • The monthly fees is $928.00 (for 2021). This fee DOES include gas in one-bedroom apartments.
  • Unamortized amounts can be used for a higher level of care. Some restrictions apply.
  • Refundable amounts can be used for a higher level of care. Some restrictions apply.
  • 95% of the remaining entrance fee will be refunded to the resident if the apartment is vacated for reasons other than death or the need of a higher level of care within twelve (12) months upon remarketing.
  • 80% of the remaining entrance fee will be refunded to the resident if the apartment is vacated for reasons other than death or the need of a higher level of care after twelve (12) months upon remarketing.

Note: Additional fees include electric, gas, phone and cable (cable is $29.50/month for standard services)