Sign up to receive news and updates.

Considering housing and lifelong care options for our senior years is not easy. Recently, risks associated with continuing care retirement communities (“CCRCs”) have been the focus of articles in the Wall Street Journal and New York Times as well as inquiries from the US Senate Special Committee on Aging and the Government Accountability Office.

This website offers resources about CCRCs generally, but takes an in-depth and critical look at Vi (formerly known as Classic Residence by Hyatt), one of the most prominent high-end providers. As a privately-held, profit-driven owner and operator, Vi exemplifies some of the risks associated with the CCRC model.

While Vi advertises the ability to age in place luxuriously without stress, seniors may find that such promises aren’t always delivered. Prospective residents and their families should consider the following risks before moving into a Vi community:

• Half of the Vi portfolio was sold off and Vi’s founder has moved on. How will Vi’s massive refundable entrance fee liability impact a sale of the CCRCs and the financial stability of each community?
• Vi sold its rental communities, and it's founder is no longer chairman. What does the future hold for Vi's CCRC?
• Will residents or their heirs have trouble getting their refundable entrance fee back?
• Will residents be subjected to unexpected increases to monthly fees?
• Are entrance fees used in residents’ best interests?
• Do residents get the care they're worth at Vi's skilled nursing centers?
• Will residents be able to take medical tax deductions for any part of their entrance fees?
• How will the loss of the Hyatt name impact current and prospective residents?