THE COOPERATIVE MODEL | INDEPENDENT SENIOR LIVING IN WESTWOOD, MA
Make an investment in your future.
With Fox Hill’s cooperative model, you’re an owner with a real voice in community operations and planning with the opportunity to benefit from asset appreciation. Plus, you’ll find the ownership model empowers us to manage the operational cost structure with decreased overhead costs that enable us to reinvest revenue into our community, a value worth every penny. The standard Life Plan Community model — also known as a continuing care retirement community (CCRC) —requires a significant up-front entrance fee that may or may not be wholly or partially refundable.
“The Fox Hill co-op model requires a majority of residents to approve every operating budget. Our lower monthly fees reflect the residents’ involvement on the board, the management’s reporting relationship directly to the board with significant resident representation, and the lack of any outside party seeking a return on Fox Hill operations.”
— Irene, resident
Understanding the cooperative model
Fox Hill Village is a community directed by residents for residents. Our cooperative structure creates an organization in which the corporation owns the real estate and residents own all the stock. When you move to Fox Hill, you purchase a share of cooperative stock and a lease for a specific apartment which is linked to your stock. When you leave Fox Hill, you or your estate will receive 90 percent of the selling price of your stock — as opposed to a percentage of an entrance fee at other communities. This is an important distinction that gives you the opportunity to benefit from asset appreciation.
As a shareholder, you’ll have a voice that residents in most other retirement communities don’t have. Each apartment has one vote, ensuring decisions are made democratically, without respect to the size of your apartment. Specifically, at Fox Hill, shareholders have a say in key decisions including:
- Approval of the annual operating budget.
- Election of the board of directors.
- Approval of financings and contract changes that would add or alter key services
Fox Hill’s board and its management are solely focused on the needs and preferences of residents. The top goal is to provide residents with the breadth and depth of services they want. There are no outside shareholders and there is no third-party management contract that would entitle any entity to a percentage of revenues. Everything Fox Hill does is for the benefit of residents.
Purchasing your share
Just as you’d find when purchasing a home on the real estate market, there are a wide range of apartment layouts with additional features added by prior residents — all of which affect share prices. The price of your share will be based on the size and features of the apartment home you choose. Once you have purchased your share, you will have the ability to renovate and customize your apartment home with the prior approval of Fox Hill.
The current sales prices* of shares are as follows:
- One-bedroom apartments start at $300,000.
- Two-bedroom apartments start at $650,000.
- Larger apartments start at $850,000.
*Subject to change based on market conditions.
Monthly fees cover many of the costs of living you may already pay in your current living situation — but with one convenient monthly bill. The fee varies with the size of your residence, but all include:
- A monthly meal plan
- Bi-weekly housekeeping
- Utilities including electricity, heating/cooling, water, and sewer*
- Property taxes
- On-site Wellness Center open five days a week
- Fitness center, aquatic center, exercise classes, and more
- Vitalize 360℠ program
- Planned recreational, social, educational, and cultural activities
- Complimentary car service within a five-mile radius of Fox Hill Village
- 24/7 security
- 24/7 emergency response system with an optional pendant that works anywhere on campus
- Individual storage space
- Grounds maintenance
*Telephone, internet, and cable services are not included.
Monthly fees are set in December of each year by shareholder majority vote and take effect January 1 of the following year.
You won’t want to miss a thing!
Your plan, your style.
Choose and customize.
Explore our sixteen one- and two-bedroom floor plans as well as combined options. With on-site design services and the ability to fully customize your home, you’re sure to find the perfect fit.
And a lot more fun.
Fox Hill’s well-curated mix of services and amenities makes life here easy and convenient. But it’s also stimulating, engaging, and a whole lot of fun.