Monday, August 14, 2006

Condos - Not Just for Kids Anymore

DC's latest condo conversion isn't reaching for the coveted 20-something market, or even the 30-somethings. 40-somethings? Forgetaboutit. You'll need to be 62 to purchase at the Thomas Circle Residences, a refurbished senior living center at 1330 Massachusetts Ave., NW, offering both assisted-living and "independent senior living." Developed by the Carlyle Group and managed by McLean-based Sunrise Senior Living which manages an international portfolio of senior living centers; condos start at $262,000 for a studio and $669,000 for a 3-bedroom unit, with condos selling as the old units are renovated. While this venture is not a nursing home, an array of services is provided, from 24-hour nursing service to meal packages and free bus service, but health care doesn't come cheap: Condo fees start at $317 and service fees start at a belt-tightening $1300. And yes, federal law prohibiting age discrimination in housing says they can keep you young kids out - laws aren't written by 20-somethings.



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