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Why Homestead Village Needs To Grow

Tuesday, October 18, 2011

Townstead is the exciting new 60 apartment edition to Homestead Village.  Some residents have asked, is it really necessary to build 60 more apartments.  They like Homestead Village just the way it is and do not want it to grow any bigger.  Their question is, "Why do we need to build more apartments?"  Here's the answer.

What is too big?
Often existing residents don't like the idea of new living units because it means more people and more crowds.  In reality Townstead will be beneficial in this area.  The sixty apartments will further improve our financial position and reduce each resident's individual portion of the administrative overhead.  Most of the first floor renovations and additions and part of the second floor will be  dedicated to wonderful new common space.  In reality, the new Homestead Village will feature improved activity and dining space as well as a much larger library, chapel and other meeting rooms.

Even though we are blessed with more than sixty acres in the best location in Lancaster, Homestead Village will never grow too big...Future growth at our Rohrerstown location will be limited to incremental increases, meaning Homestead Village will always be a medium sized senior living community.


New Apartments bring Needed New Amenities
Common space costs plenty.  Many communities spend tens of millions of dollars to add important amenities. It is not financially prudent to invest millions in non-revenue producing amenities without adding some additional revenue producing living units.  Townstead gives us the best of both worlds.

Growth meets a Need
Homestead Village has grown many times over the past 25 years.  The addition of seventy additional apartments in 1989, the completion of the cottages in the late eighties, the development of Villa Court in the nineties followed by the completion of The Mews in the last decade has given hundreds of seniors the opportunity to live at Homestead Village who otherwise would not have had that opportunity.  Today, our priority list stakeholders who want to live in a two bedroom apartment are unable to make Homestead Village their home, due to the acute shortage.  Townstead will add fifty additional two bedroom apartments, alleviating the long wait.

Townstead is the best and brightest future for Homestead Village!