Woodland Homes Fee Options

Option I — Rental

  • There is no rental option for new construction.

Option II — 10% 90% Amortize

  • Entrance fee is the construction cost of home.
  • 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 $200,000, entrance fee is $20,000 reverts to St. Paul’s, $180,000 amortizes (declines) over 10 years.

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

  • Entrance fee is the construction cost of the home 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.
  • Refund is 50% of the amount initially invested.
  • Example: Value is $200,000, entrance fee is $300,000 — $30,000 reverts to St. Paul's, $120,000 amortizes (declines) over 10 years, $150,000 refunded.

Option IV — 10% / 90% Refund

  • Entrance fee is the market value 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. 
  • Refund is the 90% of the amount initially invested.
  • Example: Value is $200,000, entrance fee is $380,000 — $38,000 reverts to St. Paul’s, $342,000 refunded.

2018 Terms

  • 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% of construction cost is due upon signing the Residency Agreement.
  • The monthly fee is $840.00 for a home 1000 to 1500 sqft, $950.00 for a home 1501 to 2000 sqft, and $1,055 for a home 2001 sqft or larger. 
  • Unamortized amounts can be used for a higher level of care.
  • Refundable amounts can be used for a higher level of care.
  • 95% of the remaining entrance fee will be refunded to the resident if the home 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 home 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)