Answers to Your Senior Living & Retirement Condominium Questions.
Below are some frequently asked questions regarding the structure of the independent living community and fees associated with purchasing a condominium unit at Fox Hill. The Public Offering Statement contains additional details regarding the Fox Hill project.
The Fox Hill Residential Condominium is the legal entity that covers Fox Hill owners. It consists of the 240 residences located in the four separate wings of the complex, which are known as the Abbott, Buckley, Eliot and Dickinson buildings.
Unlike other many other communities, residents at Fox Hill are owners of their condominium. Fox Hill is a for-sale equity product. Costs vary by condominium size and location within the community as well as by variances in the local real estate market. You are encouraged to view the floor plan options available and contact the Fox Hill sales team to inquire about pricing.
The Residential Condominium is controlled by its Board of Directors. There are seven (7) members of the Board of Directors who are elected by the owners of the residential condominiums. Board members serve three-year terms, and those terms are staggered to provide continuity on the Board.
The Fox Hill Residential Condominium owners benefit from the amenities provided for independent living residents on campus. The amenities are owned by Welltower, Inc. (NYSE: “WELL”), a publicly traded real estate investment trust that invests across the full spectrum of senior housing and health care real estate. More information on Welltower can be found here.
The amenities at Fox Hill include five dining venues, bar, wine cellar and tasting room, fitness center, indoor pool, spa and salon, Performing Arts Center, art studio, library, indoor golf simulator, as well as concierge, limousine and bus transportation services, and more. All of these amenities are part of the daily experience at Fox Hill. There is a portion of the monthly condominium fees payable which covers the cost to provide these amenities for all Residential Condominium owners.
On-site assisted living and memory care is managed by Sunrise Senior Living, LLC and has its own entrance and amenities. If you arrange with Sunrise by contract to move to Assisted Living, you will pay separately for these services. You will not pay for assisted living unless you are utilizing those services.
Yes and yes.
Yes, you just need to follow the pet policy. Size is limited to 35 pounds but can be larger with board approval. Pets must be leashed at all times and registered with all shots up to date.
Since it was created, Fox Hill has had a Capital Reserve to fund replacement of all of the capital components (such as roofs; exterior walls, windows and doors, plumbing, heating and electrical systems, elevators, pavement, etc.) for both the Master Condominium and the Residential Condominium. Those plans have identified every component of Fox Hill, specified the useful life of each component over the next 20 years (through 2043) and the appreciated cost to replace those components over those 20 years. This plan is used to determine annual budgets.
A portion of the monthly fees of each unit goes into those Capital Reserve Funds to ensure that all replacements of capital components can be paid for without the need of a special assessment.