picture of future site of the Stonecrest Villas at Covenant Village

Progress on Our Promises

From the October 2024 issue of The Villager

 

As the visible signs of progress become evident in our Village, CEO Dale Melton is delighted to provide highlights on the Covenant Village Master Development Plan.

Occupancy 

Demand remains high and at levels beyond our planned and budgeted targets. Presently, we are 100% occupied and reserved in the existing Apartment Homes in Buildings A and B; the new Enhanced Living Residences in Founders Hall; and all Cottage Homes. Utilization in the Health Center is also above targeted levels.

This strong occupancy is incredible given the fact that we have experienced back-to-back record Fiscal Years (FYs) with independent living turnover.  Over the past 13 FYs, we have averaged 17.4 independent living turnovers. In FY ’23 (ending on September 30, 2023), we experienced 35 turnovers. In FY ’24 (ending on September 30, 2024), we will experience 46 turnovers.  That is well over a 200% increase.

Our Waitlist has been resilient throughout this increase, and our Marketing Team efforts, in partnership with our Renovations Team support, have put us in this incredible position of 100% occupancy and reservations!  We are grateful to all who have contributed to this achievement.

Presales of Expansion Residences  

All 21 Stonecrest Villa Homes are presold to new members who have entered into a Life Care Agreement and have made deposits equal to 10% of the Entrance Fees. Construction of the Stonecrest Villa building has begun. Ten (10) of the 14 Village Park Homes have been reserved. 

picture of future site of the Stonecrest Villas at Covenant Village
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Waitlist Additions and New Inquiries: We continue to add new members to the Future Resident Member Program (Covenant Village “Waitlist”). The Waitlist has grown to over 650 households (~1,000 people). 

Master Plan Development Highlights

Welcome and wayfinding signage at Covenant VillageThe new front entrance and campus signage project is complete, and we have received positive comments about the new signage throughout the community.

The new Employee Parking Lot, on the southeast portion of our campus, should be ready by November.

Renovations to the Main Dining Room, new beverage bar with dining, grab-n-go dining, “open kitchen” areas, and the eventual new Bistro dining are well underway. Residents love the temporary dining venues and tell us that these newly created venues provide choice and intimate, comfortable settings. 

Renovations for the new lounge, bar and future bistro at Covenant Village

Renovations on Main Street—where many of our common areas are located—will continue through early 2025.  We are working hard to be back in the updated Main Dining Room by Christmas!

The new Pavilion (which was given by an anonymous donor) is finalizing design and municipal approvals and will begin construction soon.

Cottage Home exterior enhancements were completed in July. 

Construction of the four-story Stonecrest Villa building with two levels of underbuilding parking has just begun, with plans to be completed within 18-months.

Development planning and land procurement efforts continue on the proposed Village Park Homes. This new neighborhood will have 14 Village Park Homes surrounding a beautiful park-like setting. Our schedule continues to be delayed due to the negotiations on the small piece of land behind Kindercare (on Dixon Road) that connects to our Villagewood Court. Once finalized, more announcements will be made.


Demand for Covenant Village’s broader variety of residences and comprehensive services continues to expand as the senior population grows and as we continuously enhance and further develop every aspect of the community.  This Master Plan has truly deepened interest in and excitement for being a part of the life of Covenant Village. 

Members of the Covenant Village Future Resident Wait List have many options to enjoy these amenities and more, before you move in! Contact the Marketing Office to learn more.

Even during construction, we hope you will visit often. Share the excitement with our current residents and imagine your future with us ­— here, Where Life Is Filled With Promise. 

Dale Melton, CEO

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