Ingleside is moving forward with an independent living expansion at its Lake Ridge campus in northern Virginia geared toward the incoming boomer generation.
The senior living nonprofit is with its project adding nearly two dozen independent living units at its Lake Ridge community in Lake Ridge, Virginia.
The project comes as demand for new senior living offerings in the northern Virginia and Washington, D.C. market. Ingleside recently has completed other projects to enhance its three-community portfolio of communities in Maryland, Virginia and Washington D.C.
“The demand is there now, and we’ve been talking about this demand and it’s starting to hit now,” Ingleside Chief Financial Officer and Chief Growth Officer Jamie Spencer told SHN.
Ingleside has reported strong independent living occupancy above 97% across its portfolio and waitlists ranging between 120 to 450 prospective residents.
Ingleside this year expanded Spencer’s role to include the chief growth officer title as the company became “strategic and intentional about growth” on its existing campuses.
Ingleside added 24 independent living residences on a 2.5-acre property near the existing, 62-acre Lake Ridge campus. The expansion effort was primarily funded by 75% for the land costs and existing residents.
The expansion pairs with cottages to attract more independent and active older adults seeking a strong “sense of independence” within a broader senior living property, Spencer noted. Cottage units are viewed by some operators as a way to grow footprints without overcommitting to broader development.
The apartments fit a theme in recent years of larger units being most popular, as the expansion ranges between 1,400 and 1,600 square-feet emphasizing natural light in design and a balcony.
The design of the expansion is “open, airy and will feel more high-end without being over the top,” reflecting a product older adults could view as a move up rather than a lateral transition from the home.
“Our waitlist is made up of people that are waiting on larger units, and we’ve seen a big upswing in that design,” Spencer said, with the ability to turn and sell larger units “within days” of being available.
Ingleside also offers a fast-track route for new move-ins seeking larger units, with older adults able to move into a smaller unit with priority for a larger unit as they become available, Spencer added.
Within the last two months, Ingleside has filled 16 of the 24 planned independent living units from the expansion, with the largest units going offline first.
Ingleside’s “magic number” for Lake Ridge is 300 independent living units, and the campus is currently around 235 independent living homes, Spencer added.
On the other end of the continuum, Spencer said Ingleside is exploring a shift toward more assisted living and memory care offerings from skilled nursing, while potentially downsizing existing skilled nursing to accommodate that change.
“But we have to offer it and people want to know that they have the entire continuum of care,” Spencer noted.
As development conditions remain tough, Spencer said it was important for operators to pursue new growth, adding that it is “time to build” while acknowledging financing and construction cost headwinds. Other operators have so far taken up this call for new development in manageable, bite-size portions through redevelopment or expansion projects.
Even as the D.C. market continues to grow with new operators entering or new developments opening up, Spencer said Ingleside is “not feeling any drag” on demand. In fact, the demand in the region has spurred greater inquiries and wait-list additions as older adults do their research visiting multiple properties.
Going forward, Spencer said the company’s goal remains to “expand our mission in D.C., Maryland and Virginia.”
“Planning is critical at this point,” Spencer said. “Start putting pencil to paper and just start the process even if an operator isn’t ready to pull the trigger.”
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