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Apartment Fee Options

Option I — Rental

  • Entrance fee is established by the market value of the apartment ($78,500).
  • Initial payment — Entrance fee for this option is 10% of market value of the apartment.
  • Monthly maintenance fee is $1,870 (for 2024).

Option II — 10% 90% Amortize

  • Entrance fee is $78,500.
  • 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 $78,500, entrance fee is $78,500 — 7,850 reverts to St. Paul’s, $70,650 amortizes over 10 years.

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

  • Entrance fee is $78,500 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 $78,500, entrance fee is $117,750 — $11,775 reverts to St. Paul's, $47,100 amortizes over 10 years, $58,875 refunded.

Option IV — 10% / 90% Refund

  • Entrance fee is $78,500 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 $78,500, entrance fee is $149,150 — $14,915 reverts to St. Paul’s, $134,235 refunded.

Option V — Under 72 Age Group

  • Age 72 is based on the oldest occupant of the Accommodation
  • Pay an amount equal to the value of the Accommodation - $78,500
  • First 10% reverts to St. Paul’s
  • Remaining 90% is reserved under resident(s) name, where it remains without amortizing until the oldest occupant turns 72.
  • At age 72 resident(s) choose option II, III, or IV in writing. If no option is selected in writing, the Entrance Fee will automatically convert to Option II – 10%/90% Amortize Option.
  • If you leave the Community before age 72, Option II shall apply retrospectively beginning in the month of the Designated Occupancy Date or of Occupancy, whichever is earlier.
  • We shall refund to you ninety-five percent (95%) of the remaining Entrance Fee if you leave within the first twelve (12) months of Occupancy.
  • We shall refund to you eighty percent (80%) of the remaining Entrance Fee if you leave after the first twelve (12) months of Occupancy.


2024 Terms

  • Market values for one-bedroom apartments range from $78,500 to $84,000.
  • A $1,000 (fully-refundable) 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 fee is $1,065 (for 2024). This fee DOES include gas.
  • 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, phone and cable (cable is $35/month for standard services)