Southminster

Entrance and Monthly Service Fees

Effective October 1, 2023

Southminster offers a wide variety of floor plan options – so many that it would take this whole page to list them all here! Our marketing office will help you determine the perfect floor plan for you and provide pricing on the specific residence you select. Please see the list of amenities for details on the numerous services built into the monthly fee. An important thought to keep in mind is that our residents do not pay property insurance, taxes, or assessments of any kind.

*Residents in the cottages are responsible for gas and electric charges in addition to their monthly fee

Second Person Fee $30,000 $2,271

Entrance Fee Refund Options

Standard Entrance Fee Plan

The pricing listed reflects our standard entrance fees. Standard entrance fees amortize at 5% per month for 20 months. After 20 months, there is no refund due the resident, estate or named beneficiary.

We offer two refundable entrance fee plans as described below:

• 50% Refundable Plan

Under this plan, you pay 40% more than the standard entrance fee. You, your estate, or named beneficiary will then be entitled to receive no less than 50% of your original entrance fee once the home is re-sold and a full entrance fee received by Southminster.

• 90% Refundable Plan

Under this plan, you pay 2x the standard entrance fee. You, your estate, or named beneficiary will then be entitled to receive no less than 90% of your original entrance fee once the home is re-sold and a full entrance fee received by Southminster.

Examples:

• Standard Plan Entrance Fee: $300,000 (no refund after 20 months)
• 50% Refundable Plan: $300,000 x 1.40* = $420,000 (50% refund = $210,000)
• 90% Refundable Plan: $300,000 x 2.0* = $600,000 (90% refund = $540,000)

*Percentage is higher for those ages 86-89 at move-in. The 50% and 90% refundable plans are not an option for those age 90 and above at move-in.

Embrace Health Fees* – Southminster Resident

Effective October 1, 2023

• Assisted Living Per Diem Rate
• Eastover – Std. One Bedroom $279/day
• Ardsley – Lg. One Bedroom $312/day
• Biltmore – Corner One Bedroom $321/day
• Cherokee – One Bedroom w/Balcony $335/day
• Additional memory support + $84/day
• Skilled Nursing Per Diem Rate
• Radcliffe Studio $419/day
• Sherwood Studio $419/day
• Quail – Corner Studio $456/day

*Resident’s healthcare credit days of 14 per year (with an accumulation up to 44 days) are applied prior to per diem rates taking effect.

Adjustments in Fees and Changes. Southminster may change fees or charges at any time with thirty (30) days advance notice. It is anticipated that per diem rates will be adjusted at least annually to coincide with the start of Southminster’s fiscal year, October 1.

We do have a wait list and the timing of the wait varies on the size of the unit desired.

The small one bedroom apartments have an estimated wait time of about 18 months where the larger apartment wait times range from 3-6 years.