North Carolina CCRC Shows Appeal With Strong Sales

The Cypress of Raleigh has continued to show strong appeal to seniors across North Carolina since its opening in the fall of 2008 by closing on 158 homes valued at more than $90 million. The 48-acre continuing care retirement community (CCRC) has another dozen homes under contract and is continuing to see tremendous interest from local residents. Members have a variety of housing options, including private cottages (ranging from 2,200 to 3,000+ square feet) or stylish villas (ranging from 800 to 2,500 square feet) and while a limited number of homes are currently available, reservations are now being accepted for second phase of development that will add 61 new homes in 2011.


The community has access to a fully-licensed healthcare facility conveniently located on the Cypress campus, providing skilled nursing and long-term care services, including dementia care, to Cypress residents. The Cypress of Raleigh is the third development in the Southeast to feature the Cypress brand. Partners Jim Coleman and Marc Puntereri developed the Cypress communities in Hilton Head and Charlotte prior to the development of The Cypress of Raleigh. The Cypress is the first continuing care retirement community to open in Raleigh since 1984 and the state’s fastest growing population of seniors is located in Wake County and is expected to double by 2020.


“With the number of older adults steadily increasing, there is a tremendous demand for retirement communities that offer independent living and quality healthcare,” said Mark Andrews, a partner in The Cypress of Raleigh. “The development of new retirement communities hasn’t kept pace with demand, so The Cypress fills a growing need.”