FOR IMMEDIATE RELEASE – March 21, 2016, Manchester, New Hampshire – Today, Birch Hill Terrace, a non-profit charitable Continuing Care Retirement Community (CCRC) with roots in Manchester that go back 125 years, announced that its board voted last week to affiliate with The RiverWoods Group, a parent company of RiverWoods Continuing Care Retirement Community ( CCRC), based in Exeter, New Hampshire.
“The time is right for this move,” said Gary Zabierek, President of Birch Hill Terrace. “We are facing an unprecedented wave of boomers getting ready for retirement, bringing an increased demand for contemporary enhancements. This affiliation brings resources and fresh ideas that will help position us to serve both our current residents as well as the next generation.”
Justine Vogel, CEO and President of RiverWoods added, “After much time and work together, we realized that Birch Hill and RiverWoods have very similar values and mission; our goal is to create community and peace of mind for seniors. As two charitable non-profit CCRCs we can benefit from an affiliation, and collaborate to bring this way of life to more people.”
The affiliation agreement was finalized on March 17, and will be reviewed by the New Hampshire Charitable Trust Director, as well the New Hampshire Insurance Commissioner.
With the affiliation will come a major capital investment in the Birch Hill Terrace campus, estimated at nearly $6 million over the next 24 months. The money will be used to reimagine the common spaces and apartment design. It is estimated that architectural renderings will be revealed by mid-May, in a series of marketing events to be held locally.
“This affiliation will enable us to transform our campus,” said Gary Zabierek. “ I can tell you that if you think you’ve seen Birch Hill, you owe it to yourself to take a second look.”
About Birch Hill
Birch Hill Terrace’s history dates back to 1875 with the founding of The Manchester Women’s Aid and Relief Society. Since then, the organization has continually evolved to meet the needs of the Manchester community. The Women’s Aid Home, known as Pearl Manor was established in 1891, and in 1991 a new campus, Hillcrest Terrace, was created to serve a growing number of independent seniors in the greater Manchester area. In 2009, the organization became a CCRC Continuing Care Retirement
Nationally, there are close to 2000 Continuing Care Retirement Communities, and the concept has been around for more than 100 years. The majority of CCRCs are non-profit, and many are organized within systems. There are a handful of CCRCs in northern New England, and interest and education about this concept has been rapidly increasing among retirees. CCRCs welcome people 62 years or older, to enter as independent residents. Once there, residents can enjoy a variety of amenities (housekeeping, laundry service, dining, inside and outside maintenance, programs and exercise classes), while making friends. As they age, if a resident needs a higher level of care, it is available to them within the same campus. Depending on the CCRC contract type, this is generally at a reduced cost. Additionally, often a resident can get a refund on their initial entrance fee, when they pass away or move.
For a primer on CCRCs, download the Insider’s Guide to CCRCs at http://www.riverwoodsrc.org/sites/default/files/PDFs/CCRC_101_Workbook_Copyright_RiverWoods_2013.pdf