Market Overview

RiverWoods Durham Breaks Ground for New Continuing Care Retirement Community


RiverWoods Durham Breaks Ground for New Continuing Care Retirement Community

Record-breaking sell-out of residences and rapid construction funding set the stage for ongoing success

PR Newswire

DURHAM, N.H., Aug. 21, 2018 /PRNewswire/ -- Today, The RiverWoods Group broke ground for their newest project, RiverWoods Durham, a new Continuing Care Retirement Community, and affiliate of The RiverWoods Group (TRWG), the parent company of the nationally accredited 24-year-old CCRC RiverWoods Exeter, and Birch Hill, a CCRC located in Manchester, NH.

Justine Vogel, CEO of The RiverWoods Group said, "We are grateful to all our partners gathered here today, and to our new RiverWoods Durham residents, that we are able to bring the RiverWoods way of life to more people.  No project this significant gets done without a great deal of teamwork, and support from the community, and based on our experience so far, we are off to a great start."

RiverWoods Durham is a non-profit Continuing Care Retirement Community comprised of 150 independent apartments and a 72-bed health center, on a 11-acre campus in Durham, New Hampshire. After only 29 selling days, RiverWoods Durham was 100% sold, which is a record in this industry.  Today, the community remains 100% sold, but is currently accepting wait-list deposits (equal to 10% of the entrance fee of the apartment selected).  

Funding completion was announced in July 2018, for which TD Bank and SunTrust Bank were selected as co-lead banks and People's United Bank was selected as participant bank. LeCesse Construction of New York is managing the construction project, and the community is scheduled to open in late 2019.

Attendees at today's groundbreaking included executives from RiverWoods Group, Ziegler, TD Bank, SunTrust Bank, and People's Bank along Todd Selig, the Durham Town Manager, members of the Durham Town Planning Board and leadership team, LeCesse Construction, Greystone developers and RiverWoods Durham depositors.

The event included a photo and recognition of the co-founders of RiverWoods Exeter, Marianna Hatch and Rosemary CoffinJohanna Hatch, daughter of Marianna Hatch, a long-time resident of Durham spoke during the ceremony, in honor of her mother and the community she inspired.  Over 35 years ago, Marianna and Rosemary gathered a small group of Seacoast area residents to create the area's first Continuing Care Retirement Community.  Their original goal was to locate the community in Durham, but instead, it opened in Exeter in 1994.

About RiverWoods Durham

RiverWoods Durham is a new charitable, nonprofit CCRC (Continuing Care Retirement Community), comprised of 150 independent homes and a 72-unit health center providing assisted living, memory support and nursing care, located on 11 acres in Durham, New Hampshire, and scheduled to open in early 2020.

CCRCs welcome people 62 years or older, to enter as independent residents. Once there, residents enjoy a variety of amenities from housekeeping, laundry service, dining, inside and outside maintenance, to educational programs and exercise classes, while making friends and cultivating community engagement. As they age, if a resident needs a higher level of care, it is available to them within the same campus.

RiverWoods Durham is an affiliate of The RiverWoods Group, which is the parent company of RiverWoods Exeter, a charitable, nonprofit, nationally-accredited CCRC comprised of three vibrant campuses on 200 wooded acres in Exeter, New Hampshire and Birch Hill, a nonprofit CCRC in Manchester.

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SOURCE The RiverWoods Group

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