Major expansion ahead for Pierce County retirement community that has a waitlist
AI-generated summary reviewed by our newsroom.
- Heron’s Key plans to expand by 2028, adding new apartments and duplexes.
- Project costs $110 million and will include a new swimming pool, hot tub and more.
- Phase II units are 91% booked; entrance fees start at $591,200.
Heron’s Key, a retirement community in Gig Harbor, is expected to break ground on a major facility expansion by July, increasing its independent living units by close to 30%.
The spacious property at 4340 Borgen Blvd. offers residents pond-side views, a la carte dining, an activities calendar and care ranging from independent living to memory care and skilled nursing. The community has 194 independent living units total, 10 of which are cottage-style units in the property’s five duplexes. Those are in addition to units with higher levels of care, including 36 assisted-living apartments, 13 private memory care suites and 30 private skilled-nursing suites.
The Phase II expansion will add 54 independent living units, including a four-story building and three duplexes. The $110 million project will also add a spate of upgraded amenities, including a new swimming pool and hot tub. The dining room, fitness center and art studio will be expanded, and a new grab-and-go dining venue will provide residents a place to order casual meals like sandwiches, soups and salads with outdoor seating, said Sandra Cook, vice president of marketing and public relations for Heron’s Key.
Residents are expected to start moving into the new units in 2028.
“ ... we’ve built a wonderful and vibrant community here in Gig Harbor,” Cook said. “And demand continues to be strong ... we truly believe that the timing was correct to expand and allow more seniors who were already on our waitlist to have an opportunity to plan for a place to move in.”
The retirement community’s existing units are 100% filled, and their future units are 91% booked, according to Cook.
Heron’s Key opened in 2017 and is part of Emerald Communities, a nonprofit that develops and manages living communities for older adults.
The expansion of Heron’s Key, referred to as Phase II on their website, was part of long-term plans for the facilities. Cook said that the nonprofit planned to build the community in two phases and potentially a third, though there aren’t plans for the third phase yet.
The new facilities are expected to total 111,000 square feet, including the duplexes and amenities. Cook said the plan is to break ground around the end of June or beginning of July, depending on the weather.
The new apartments and duplexes will be located on an empty lot adjacent to the employee parking area, according to Cook.
The apartment building will have four floors. Each floor will contain 12 apartments: six facing the parking lot and six facing the pond by the building. Below, residents will have access to underground parking. The new building will connect to the existing building.
One to two-bedroom floor plans in the new apartment building range from 798 to 1,902 square feet, according to a brochure. The six cottages in the three duplexes are 1,800 square feet each.
To reserve an apartment or cottage, prospective residents must pay 10% of the estimated 2028 entrance fee, the brochure says. That deposit is fully refundable for 180 days and will collect interest that can go toward the entrance fee (interest is not paid to residents who withdraw their deposit). Heron’s Key will send monthly updates to depositors and provide quarterly opportunities for them to meet other current residents. Future residents will also have the ability to select customized features of their unit, like carpet or cabinets, with the Heron’s Key team about 10 months before opening.
Entrance fees start at $591,200 for a 75% refundable plan, or $765,300 for a 90% refundable plan. Refundable plans are common in Continuing Care Retirement Communities (CCRCs) or “life plan communities,” which charge entrance fees for new residents but return a certain percentage to them or their heirs upon their departure or death. Second person entrance fees start at $52,000, and residents will pay a 75% refundable fee of $40,000 for parking below the building.
Estimated monthly service fees at Phase II range from $4,686 to $9,957, according to the brochure. These monthly service fees are in addition to the entrance fees.
Residents’ monthly fees remain the same at each level of care offered at Heron’s Key, from independent living to assisted living to memory care to skilled nursing. That doesn’t include charges for additional meals and annual increases in operating expenses like utilities and taxes, the brochure says.
The pricing is slightly different from existing units at Heron’s Key, where residents also have the option to choose from a traditional entrance fee plan that is partially refundable for just the first five years, or a 50% refundable plan. The higher entrance fees for Phase II will help finance the project, according to Cook.
Heron’s Key Phase II “will be financed through a combination of traditional financing and organizational resources through Emerald Communities ... similar to how many nonprofit senior living organizations fund large capital projects,” Cook said.
To minimize the disruption to residents, Cook said that construction will occur in phases. The dining room will never be completely closed, but sections may be portioned off at times. Crews will also limit construction work to business hours, she said.
“We really feel that our residents thrive once they move in with us,” Cook said. “It gives them a space to have sense of purpose and to build community. And during the pandemic, we saw so much loneliness in what’s happening in people living at home ... when they come here, they find their niche.”
“ ... Gig Harbor is such a special place, so the fact that we get to be part of that community, it’s really special for us,” she said.
