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One of our most frequently asked questions is: "What will happen to the tower?" The 21-story tower is the incomplete high-rise that sits behind the main buildings. After having it retested for structural soundness by Lindsey & Associates, Ltd., Engineers of Nashville, TN., we immediately began planning to restore this remarkable building to use as a “refirement center,” an active adult community to serve our seniors. Our goal is to make it the best such facility on the planet, and a model for how other ministries, churches, and denominations can “honor our fathers and mothers,” by providing them facilities and a program that will not only make their senior years their best years, but their most fruitful ones as well, engaged in ministry, missions, writing, prophetic art, teaching, and helping to disciple the emerging generation, and in every way fulfilling their purpose.
The Refirement Center Layout
There will be 250 units. We have general plans for one to five room suites, and each can be custom designed because of the numerous options that will be available. Options may include additional rooms, bathrooms, upgrades in fixtures and appliances, as well as complete furnishings and appliances. For example, the same size unit could include three bedrooms, or two larger bedrooms within the same space, or a larger kitchen, bathrooms, closets, etc.
There will be many exciting common areas and amenities, and those who reserve a space will be involved in planning these. Common areas will be conducive to fellowship, study, personal ministry, gatherings of different sizes, and recreation. We are considering a library, pool, restaurants, and health club/exercise rooms, as well as things like a hair salon, barber shop, etc.
Qualifications for Residents
Qualified residents of this Active Adult Community (AAC) will be Christians of at least 55 years old, who will be engaged in missions or ministry on at least a part-time basis. This can be with any church, Christian ministry, or school, as well as with new ministries which we expect to be born out of Heritage Towers.
The Plan
Units will range in price depending on the space and options. These will be for “life-leases”—the right to live in the unit as long as you can occupy it. After a resident leaves, the unit will be returned to the ministry. This protects the ministry and the other residents, ensuring the community will remain active Christian adults engaged in missions. If for health reasons, the unit has to be vacated in the first twenty years, the plan is for the unit to be returned to the ministry, but a portion of the next lease will be paid to you on a graduated scale depending on how long the unit was occupied, with a floor of 50 percent of the future lease being paid to the former lessee.
For example, if you originally paid $150,000 for a life lease on a unit, and lived in it for twenty years, but had to move (for any reason), and the value of the unit had appreciated to $250,000, you would receive $125,000 when the unit is released, less the cost of any refurbishing required. Though in the past property values have more than tripled in many regions over twenty years, there is no way to determine what they will do in the future—they could do better, or worse, even depreciating. It is therefore our goal to make the value of the lease itself, even if there was no refund at the end, a good value in itself, and let the refund be a blessing and bonus in which we can send our seniors out if they must leave. Our goal is to not only make this the most desirable address for an Active Adult Community anywhere, but also the best value anywhere. This is because we are not doing this as a business, but as a ministry.
Along with the lease, there will be a monthly maintenance fee designed to keep the common areas in top condition, and to keep your space as carefree as possible, covering any unit maintenance and upkeep required.
For More Information About Heritage Towers
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Proposed artist’s rendition of future Heritage Tower
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