The Watermark at Logan Square has introduced new membership options to better align with the community’s culture of choice, which particularly appeals to the aging baby boomer population. Two options – a full membership and a classic rental membership – now make it affordable for all seniors to take advantage of the full spectrum of amenities at The Watermark at Logan Square, and each membership option comes with its own perks.
Classic members can enjoy The Watermark at Logan Square’s exclusive membership lifestyle. Full members receive a rate lock for life, with $500 off their monthly rent for life, which is a savings of $6,000 per year to start, with savings expected to increase, because full members are immune to any future increases resulting from inflation. This full membership option results in the greatest cost savings and will appeal to the young and active residents as the Independent Living apartment rent is locked at a discounted rate.
The new membership options give The Watermark at Logan Square residents more choices while maintaining the flexibility of a rental community.
“These innovative membership options are largely driven by feedback from residents, who are generally accustomed to – and enjoy – having a lot of choices in this bustling urban environment,” said Jennifer Tapner, executive director of The Watermark at Logan Square. “Our residents often take advantage of all the best Philadelphia has to offer, as well as the wide variety of programs and services offered right here in our community. These memberships are tailored to meet the unique needs of seniors living in our Center City community. And, from what we know about the boomer generation, we are inclined to think that more and more seniors will opt for urban living.”
Market research from CBRE, a commercial real estate services and investment firm, gives validation to how the new membership options will help The Watermark at Logan Square best meet the needs of boomers, who are beginning to move into the community. Research shows that boomers are especially attracted to the social, recreational and cultural amenities at a Continuing Care Retirement Community (CCRC) like The Watermark at Logan Square. It further indicates that boomers who are active and healthy and have a long-term outlook on their housing needs are seeking out CCRCs. In fact, CBRE’s research notes that the age of move-in for CCRC residents is typically younger than for other types of housing. Therefore, as the first wave of baby boomers starts reaching 75, the demand for CCRCs is increasing.
“We believe that our new membership options will especially appeal to those seniors in the boomer generation who want the social engagement, enhanced wellness and connectivity that comes with living in an urban environment, and they want all of that while they are healthy and active and have intention of taking advantage of all these amenities for many years,” Tapner explained.
She continued, “We know this generation is large in numbers, and we also know that because of modern health care, about one in four will live to be 90, and one in 10 to be over 95. We’re now prepared to give them what they want and make it even more appealing by making it cost-effective.”
ABOUT THE WATERMARK AT LOGAN SQUARE
Located close to cultural attractions at Two Franklin Town Boulevard in Center City, Philadelphia, The Watermark at Logan Square tailors programs to meet and exceed the expectations of each resident. Comprised of Independent and Personal Care apartments, a Skilled Nursing Center, Rehabilitation and a Memory Care Center, The Watermark at Logan Square offers a full continuum of care in a luxurious, maintenance-free setting. It is managed by Watermark Retirement Communities, which for more than 30 years has been committed to creating extraordinary and innovative communities where people thrive.For more information, call 215-268-6554 or visit logansquare.
