What’s Next for Generations at Shalom Park

By Karen Knoble

Generations at Shalom Park is an exciting project bringing an adult living community inside the vibrant multigenerational setting of Shalom Park. “Generations” references an important Jewish value — L’Dor V’Dor (from Generation to Generation) and captures the essence and uniqueness of this project that will complete one of the visions that the founders of the Park had 40 years ago.

The campus of Shalom Park is already a unique community in the Jewish world, with programming for people of all ages, including adults and seniors. The addition of a senior living community will broaden the opportunities to actively engage this demographic in all aspects of our community.

To build Generations and be able to offer the life plan services our seniors need, Generations is partnering with Aldersgate which, like Generations, is a nonprofit, faith-based organization, mission bound to provide for the needs of seniors. Generations brings the Jewish, cultural expertise, and Aldersgate brings the expertise needed to conceptualize, finance, and operate a successful adult living community. Specifically, they offer expertise and best-in-market capabilities in skilled nursing, something Generations would not have been able to offer given the size of our property and regulatory requirements.

Generations is at an important stage in its development. The thorough planning of Generations included nearly every contingency imaginable, but not a pandemic, and the impact of COVID-19 has been significant. Just as Generations began looking for people to make a commitment and secure their home with a deposit, most of the world shut down, putting those types of decisions on pause for many. In the past few months, as vaccinations have allowed re-opening, Generations has seen momentum in this important reservation process, and many of the homes have been reserved.

Early depositors form the Genesis Club and are  instrumental in defining the Generations community. Future residents who are putting down deposits at this time get the opportunity to choose their specific apartment and take advantage of significant early depositor benefits offered by Generations. These benefits, available only until the 70% reservation threshold is reached, will save Genesis Club members upward of $150,000. The most significant benefits included.

Discounted entrance fees. Genesis Club Members will receive a discount of more than 14% on their entrance fees compared to opening prices.

Refundable contract bonus increase. For those Genesis Club members who choose the 90% refundable contact option, Generations will automatically upgrade that refund amount to 95%.

No monthly service fees for two months. Genesis Club Members will receive a credit for two months of monthly service fees for the first and second person fees, if applicable.

Second person monthly service fee discount. Genesis Club members who have a second person fee will receive a $700/month discount for a lifetime.

Choose the location and floor plan. The most popular floor plans are going quickly.

To date, approximately 65% of the depositors self-identify as Jewish, and a number of depositors currently live outside of Charlotte and North Carolina.

The reservation process is critical because Generations cannot move forward until 10% deposits are placed on 88 (70%) of the 125 independent living units. Seventy percent is the threshold required for the final financing to take place in order for the construction to begin. The North Carolina Department of Insurance regulates the deposit process and will not allow Generations to go forward if these deposits are not secured.

The Shalom Park partners are highly engaged in every phase of this project and its governance. The Generations board is mandated to have majority representation of Shalom Park community members. Currently, the five seats held by members of the Jewish community include Sam Bernstein, Barry Bobrow, Jonathan Howard, Julie Lerner Levine, and Holly Levinson.

To assist with bringing this project to fruition, Karen Knoble has joined the Generations professional team as community outreach coordinator. Her roles are to strengthen the ties between Generations and the Shalom Park partners and other agencies on the Park, keep our Shalom Park community abreast of the progress at Generations, and reach out to the Charlotte community and beyond. Karen has been involved with the Generations project since its inception and served on the initial steering committee. She is passionate about building a Jewish adult living community in Charlotte.

If you have questions about the development of Generations, or would like more information about Generations at Shalom Park, reach out to Karen Knoble ([email protected]) or go to www.generationsatshalompark.com.

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