YOUR BUSINESS AUTHORITY
Springfield, MO
Maranatha Village's retirement community is expanding its existing 35-acre tract to encompass an additional 70 acres of development adjoining the original property at 233 E. Norton Road.
Owned by the General Council of the Assemblies of God, the new North Woods area will offer single-family homes, duplexes, walking trails, a detention lake with fishing pier, and a 20,000-square-foot community building with a full range of amenities.
Pellham-Phillips-Hagerman Architects & Engineers Inc. designed the overall layout of the new subdivision and construction is being done by Lon Goff Custom Homes. The expansion will allow for 150 independent-living units over the next 10 years.
Prices for the new homes range from $115,000 for a duplex to $145,000 for a single-family home. Payment secures a lifetime tenancy, while the property does not become part of the assets of an individual's estate.
There are three payment options:
Full payment in advance;
50 percent down with the balance at 9 percent interest over 10 years;
25 percent down with the balance at 10 percent interest over 15 years.
The General Council of the Assemblies of God carries the loans.
When residents vacate the home, they are refunded a percentage of the price on a sliding scale between 80 percent after one year, down to 10 percent after eight or more years.
"Many people reach their retirement years with a home that is paid for but very little accumulated cash reserves," said Doug Bauvelt, assistant administrator for Maranatha Village. "They are cash poor and property rich. Continuing to live in the homes where they raised their families can be costly in terms of property taxes, maintenance and upkeep.
"Often they can sell their homes, buy a low-maintenance unit in the Village and realize a monthly income from the interest on the investment of the remaining equity."
Showcased in this year's Home Builders Association's Parade of Homes will be a 1,550-square-foot two-bedroom duplex and a 1,600-square-foot three-bedroom single-family home. All of the homes offer screened sunrooms, landscaping, large windows with glass encased mini-blinds, cultured marble-topped vanities and pull-out shelves for kitchen storage.
"Lon and I pored over hundreds of floor plans before selecting the eight plans we will build," Blauvelt said. "Our main criteria in the selection process was to choose plans which would enable independent living for as long as possible."
Both the duplexes and the single-family homes feature open floor plans, wide doorways, large bathrooms with raised toilets and built-in safety bars around the tubs and showers. Maranatha provides yard work, maintenance, security, trash removal, cable television, and water and sewer services for a $100 monthly maintenance fee.
"What is coming around for the Springfield area," said Lon Goff, "is homes and (subdivisions) designed for a particular age group. These homes at Maranatha are an upper-scale product. They are small homes with a lot of features that would normally be found in bigger homes."
Single-family homes are a new option at Maranatha Village.
"Our waiting list necessitated the addition and the type of living units we would build," said Blauvelt. "Many of those retirees wishing to move to Maranatha need the third bedroom space for their home office and computers."
Residents do not have to be a member of the Assemblies of God denomination. "Any Christian is welcome," said Blauvelt. "The criteria for a prospective resident is that they be at least 55 years of age and do not use alcohol or tobacco."
Blauvelt said that 30 years ago the concept for a Christian continuum care facility was ahead of its time.
"Continuum care is the idea of offering health care services and living spaces that fit the changing needs of an aging population," Blauvelt said. "The three levels of living options range from independent living, to assisted living and long-term care."
Originally founded in 1973 for retired ministers, Maranatha Village has become home for more than 400 retired lay people and ministers from 45 states. Currently, the Village consists of 170 independent living units, comprised of apartments and duplexes, with an additional 21 units in assisted living and 240 units in long-term care. Maranatha Village employs a staff of more than 250 people.
"The Village is a real community a small city," said Blauvelt. "What makes the Village attractive to our residents is the Christian atmosphere, that we offer all levels of care, and that there is a stability of ownership and a consistency of philosophy."
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
Longtime employee sues Ozarks Tech, alleges retaliation
Cavender’s opens hat shop in southeast Springfield
Caterpillar to acquire John Fabick Tractor Co.
Eric Schmitt introduces Modern Skies Act
Springfield airport to cut the ribbon on $35M in construction projects
Legacy Bank accused in lawsuit of failing to protect customers in data breach