800 Heritage Way, Brentwood, TN (Nashville suburb)
The Heritage at Brentwood is a successful Lifecare Community developed by and managed by a leading for-profit, LCS. The contract is a right to occupy, with a buy-in plus return of capital upon exit (80%-90% depending on choice of unit). This is technically neither a lease nor a purchase. Monthly fees are currently $3,950 for the first occupant and $1,314 for the second occupant. The fees can vary year-to-year and have inflated by approximately 4-5% a year. The monthly fee does not change depending upon level of care.
- The Heritage began pre-sales in 2001 and the first phase opened in 2007. The facility successfully weathered the market disruptions of 2008 by deferring a then planned expansion (now planned for 2018). Among the projects deferred was the community’s aquatic center (indoor pool).
- The Heritage site features exceptionally well-maintained landscaping and sophisticated, well-detailed architecture and interior design that echoes the elaborate horse barns and clubby atmosphere of Nashville’s historic thoroughbred racing industry. Common spaces, both indoors and out, are first class.
- Dining is both flexible and high quality with significant input from and approval by residents working with a chef and registered dietician. We sampled a luncheon salmon plate that was tender, and not overcooked, with a delicious maple glaze and al dante baby potatoes and squash tossed in olive oil and basil. Our resident host indicated it was representative. Presentation, service and taste were all first rate.
- A range of apartments (90% return of capital) and townhouse Villas (80% return of capital) are available with a variety of floor plans. Apartments feature large windows and nine foot ceilings, but standard finishes are notably builder grade (cabinets, laminate countertops, white appliances) and may be a disappointment at the price point offered. Upgrades are allowed, but at resident’s expense with no increase in return of capital.
- The Heritage’s skilled nursing facility, is 5-star in all categories rated by Medicare. The facility’s health care navigator nurse service and walk-in clinic are affiliated with the Vanderbilt University Health system, Tennessee’s premier tertiary care teaching hospital.
- The Heritage stands out by attracting a high percentage of out-of-state residents to Nashville. The typical mix for most Life Care or CCRC’s is a 90/10 mix of in-state to out-of-state residents. The Heritage in Greater Nashville is a destination facility at 58/42. The Heritage’s collegial living is popular with academics, professionals and military officers among others.
- The Heritage is located in an area of wooded, rolling hills within an upper middle-class neighborhood otherwise featuring estate homes ranging from $400K to over $1M. Significant nearby public facilities include a YMCA, an elaborate County Sports Facility, the Brentwood Public Library and a fire station with EMT service. Access to I-65 provides a direct route to Vanderbilt University and downtown Nashville. The downside is that traffic noise from the immediately adjacent interstate and a major rail line is obvious and can be obtrusive. The traffic is well-screened by landscaping and obscured with windows closed, but this is a significant negative of the campus location.
There’s much right here: The Heritage at Brentwood
A more detailed evaluation and financial analysis is available upon request. Also available is a report on comparative ranking with more detailed evaluation and scoring.
On face value, The Heritage at Brentwood, is a premier senior living choice in the fast-growing urban center of Music City, Tennessee’s state capital and center of commerce. There’s much right in the design, management and execution of this Life Care continuing care retirement community. Because future access to assisted living and skilled nursing services is a key part of the CCRC promise, the purchase decision has to include evaluation of the financial depth and security of the facility. Today, The Heritage, is among the best we have seen and is a leading contender for our own future home. We will continue to monitor The Heritage as it expands and assure financial strength remains healthy.