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All Press Releases for January 11, 2013 »
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Glenaire Continuing Care Retirement Community Celebrates 20th Anniversary in 2013

Cary-based retirement community, Glenaire, has positively impacted the local community with an annual economic impact of over $20.9 million.
 
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    CARY, NC, January 11, 2013 /24-7PressRelease/ -- Glenaire, a continuing care retirement community (CCRC) affiliated with The Presbyterian Homes, Inc. which opened in Cary in 1993, is celebrating 20 years of enriching lives in 2013. A leader in offering an independent, rewarding and fulfilling lifestyle to those who reach retirement age in support of their physical, intellectual, social and spiritual well-being, Glenaire offers a long heritage of positively impacting the local economy and community.

Glenaire is a fully accredited, non-profit, Presbyterian-affiliated continuing care retirement community located on 33 acres in the heart of Cary, N.C. As an affiliate of The Presbyterian Homes, Inc., Glenaire welcomes residents of all faiths and is governed by a volunteer Board of Trustees and The Presbyterian Homes, Inc. Board of Governors. Due to a strong resident financial assistance program, no resident who has outlived his or her funds has ever been asked to leave.

Over the years, Glenaire has provided services to more than 860 people aged 62 years and older, with payor sources of private pay, Medicare, and Medicaid. Today, the community consists of approximately 380 residents living in 212 residential living apartments and free-standing homes, 49 assisted living apartments, and 71 nursing rooms. It features two full-service dining venues, a fitness and aquatic center, a 200-seat auditorium, a library, and other services and spaces for hobbyists. Glenaire employs individuals who provide services in the health care, dining services, housekeeping, maintenance, fitness, clergy, and other areas.

Since becoming operational in July 1993, Glenaire has spent nearly $60 million in construction on campus. Aside from its initial $23.8 million (in 1993 dollars) spent in original construction, Glenaire has invested an additional $36.2 million in construction for multiple expansions over the years. At the spring 2012 meeting of the Glenaire Board of Trustees, approval was given for planning for a major renovation of the health care center, study for a possible parking deck, and addition of apartments on vacant land. Preliminary estimates show that these projects could lead to an additional $16.4 million expansion. In addition, the Board budgeted approximately $1.4 million in capital expenditures in 2012/2013.

"We believe that to remain competitive, our buildings and amenities should be state-of-the-art," said J. Paul Gregg, Executive Director of Glenaire. "We have made significant investments since 1993, spending tens of millions of dollars in the local economy."

Since 2003, Glenaire has provided more than $1.8 million in financial assistance to residents in assisted living and independent living who are unable to pay for the full cost of their care. Generous donors help Glenaire meet this commitment. Glenaire allows various non-profit groups to use its first-class spaces at no charge. Residents and staff also support various community events by contributing their resources.

Approximately $73,000 in college scholarships has been awarded to 50 high school students employed as wait staff at Glenaire, thanks to a resident and his wife who established a $100,000 Wait Staff Scholarship Fund. Glenaire also offers young professionals on-site internship programs in the fields of nursing, social work, pharmacy, fitness professions, clergy, and other areas. Hundreds of students who have received practical experience at Glenaire's long-term care setting then serve the larger community.

Today Glenaire employs about 240 individuals and has an annual economic impact of $20.9 million. Glenaire's 2012 annual expenses, including salaries and wages, operation and maintenance costs, and capital spending totaled $16.1 million. Since seniors tend to have a higher use of the health care system than younger people, Glenaire residents have had a positive economic impact for medical providers, from area hospitals to diagnostic clinics to outpatient providers. In addition, Glenaire's residents impact the local economy by patronizing local businesses for off-campus food, entertainment, recreation, health care, automobile expenses, prescriptions, eyeglasses, and banking and investment needs. Family members of residents and other visitors spend at hotels, restaurants, and entertainment sites when they visit Glenaire residents.

"We're extremely proud that our heritage and mission to provide senior adults with caring and high quality services in support of their physical, intellectual, social and spiritual well-being has impacted the local economy and community in such a positive way!" said Gregg.

There are a number of events planned in 2013 to celebrate Glenaire's 20th Anniversary. Visit http://www.glenaire.org or call (800) 225-9573 to learn more!

About Glenaire
Glenaire is a non-profit, Presbyterian-affiliated, nationally-accredited continuing care retirement community located on a 32-acre campus in the heart of the Research Triangle Park in Cary, North Carolina. Glenaire's location is optimal, and its reputation for excellence is unparalleled. Glenaire offers an enriched lifestyle today with a solid plan for tomorrow. For more information about Glenaire please visit http://www.glenaire.org or call (800) 225-9573.

About The Presbyterian Homes, Inc.
The Presbyterian Homes, Inc. offers three continuing care retirement communities in North Carolina: Glenaire in Cary (www.glenaire.org), River Landing at Sandy Ridge in High Point (www.riverlandingsr.org), and Scotia Village in Laurinburg (www.scotiavillage.org). All are certified by Medicare and Medicaid and accept residents of all faiths. The Presbyterian Homes, Inc. is a non-profit corporation that has a covenant relationship with the Presbyterian Church (USA). For more information, visit http://www.presbyhomesinc.org or contact Marcia Johnston, Director of Development and Public Relations, at 336-886-6553 ext. 5118.



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