Previously I wrote about The Hamilton in downtown Palo Alto which is a 36 unit condominium for those 55+ that provides independent living situations. http://actvra.in/49WQ Today I want to discuss a different type of Silicon Valley retirement option, continuing care, which can be found at the Channing House, also in downtown Palo Alto.
The continuing care option for Palo Alto retirement living allows a person to move into a development while they are still able to live independently, but if in the future they need assisted living or skilled nursing care that is done on site and the resident never needs to move again.
There are age and health requirements to move in. They want you to spend some years there while you are healthy before you need the more expensive services. To move into Channing House you must be between the ages of 65 and 83 and be able to live independently. There is a fee to move in and a monthly fee based on the size of your apartment. The monthly fee includes all your meals and will not go up if you need assisted living or nursing care. However, the monthly fee does go up over time. The entrance fee is refundable on a declining basis over the first 6 years that you live there. You must pass their financial requirements to be admitted as well, but if you run out of money they will not kick you out.
Channing House was founded in 1961 by Dr Lee who was the head of the Palo Alto medical foundation. He wanted a Palo Alto retrement home where seniors could live out their lives in Palo Alto and still be part of the community. It was a continuing care facility long before they were popular starting in the eighties.
Today Channing House houses 250 residents, most of who are still active, healthy and contributing to retirement life in Palo Alto.
If you have any questions about retiring in Palo Alto please feel free to contact me.
If you would like to know the value of your current home click here.
Marcy Moyer
Ca BRE 01191194
650-619-9285
- TOPIC: Home Buying
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