Liberty Senior Living is pioneering a new ownership structure at The Peninsula at Charleston, a luxury life plan community being developed in Charleston, South Carolina. The 13-acre neighborhood district, Courier Square, will host this unique community, offering amenities such as a 24-hour concierge, valet service, multiple dining experiences, golf simulator, heated saltwater pool, salon, and spa. With units ranging from 700 to 2,800 square feet, including condos, garden flats, and townhomes, Liberty plans to break ground in the middle of next year, with pre-selling already underway.
One of the distinguishing features of this community is its equity-based ownership model, allowing residents to purchase units outright and retain ownership within their estates after they pass away. This model, which is relatively rare in the senior living industry, is believed to help operators maintain greater financial stability in the long term by attracting a younger demographic. Prospective residents have already shown keen interest in this unique ownership structure, with a quarter of the units pre-sold within the first week of availability.
With an all-inclusive monthly fee for utilities and other services, the community is projected to welcome its first residents in 2027, with a minimum age requirement of 62. Paige Crone, the director of sales and marketing at The Peninsula, anticipates that this equity-based model could potentially become more common in the senior living industry in the future due to its ability to create value and serve as an investment for residents and their families. She also believes that this model could attract a younger demographic to senior living communities.
