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| Q. |
What type of community is Westcott Lakes? |
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Westcott Lakes will be a university-related Life Fulfilling Community® (LFC) for adults age 62 and older. The LFC has evolved from the “continuing care retirement community” concept into a more forward-thinking, advanced approach for the older adult lifestyle — providing far more options and choices than its more traditional counterpart . . . and creating an environment for lifelong learning, optimum health and fitness, creative aging and personal growth. In addition to an upscale lifestyle and an impressive range of amenities, Westcott Lakes will also offer a comprehensive Life Care program that significantly reduces the costs of long-term care to its members. |
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| Q. |
Westcott Lakes is sponsored by Florida State University.
What exactly does that mean? |
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Westcott Lakes, while not owned by the university, will be fully and directly integrated with FSU through a series of affiliation agreements with various colleges within the university. This means that community members will have campus privileges similar to those of university faculty – including access to libraries, athletic facilities and cultural activities. They will also have the opportunity to interact with, mentor and advise FSU students, many of whom will work part-time for Westcott Lakes. |
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| Q. |
Why did FSU choose to sponsor a community like Westcott Lakes? |
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As one of the nation's top public universities, Florida State is a center of excellence in many areas — medical and healthcare education, technology, science and the arts. FSU has also been recognized internationally for its work at the Pepper Institute on Aging, which is located on campus. So, there is a logical tie-in for FSU to sponsor this new Life Fulfilling Community for older adults. In addition, extensive independent market research, consultation and study revealed that being affiliated with a “retirement” community is a good proposition for the university in terms of both business and academics. |
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How does FSU benefit by sponsoring Westcott Lakes? |
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Benefits to the university will include affiliation agreements with colleges and schools to provide internships and direct field experience for students — as well as exchange opportunities in the areas of nursing, medicine, health and human performance, and many others. FSU students will be integral to the community through coursework, employment and volunteer efforts. Perhaps most important: A small portion of the entrance fee paid by Westcott Lakes members will be reserved for scholarships and professorships — providing FSU with a future income stream for educational enrichment. |
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| Q. |
Will Westcott Lakes be a not-for-profit corporation? And why is that important? |
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Yes, Westcott Lakes is a not-for-profit corporation with a volunteer Board of Directors who are responsible for ensuring the success of the community and its mission. As a not-for-profit community, Westcott Lakes will be able to access tax-exempt financing, which ultimately lowers the cost of the community to its members. Finally, as a not-for-profit corporation, Westcott Lakes is operated exclusively for the benefit and use of the members who are going to live there (no profits or distributions). |
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| Q. |
Who is developing this community? |
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FSU selected a leading-edge developer, PRAXEIS LLC from Jacksonville, Florida, to develop Westcott Lakes. The creator of the Life Fulfilling Community, PRAXEIS has decades of collective experience in the senior-living industry — including financing, developing, marketing and managing communities. PRAXEIS believes that the quality of one’s life does not have to decline with age. In fact, it can improve. Not only can it improve — but for those who seek it, it can actually become a life of fulfillment, meaning and purpose. |
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| Q. |
Who owns the property? |
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The Westcott Lakes not-for-profit corporation will be the owner of all buildings and land once construction starts. The land upon which the community will be constructed is currently controlled through an Option Agreement with SouthWood / St. Joe. |
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| Q. |
What is the origin of the name? |
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We wanted the linkage between FSU to be very apparent – because this community will enjoy a fully integrated relationship with the university. Using the name “Westcott,” which is important to FSU history, was a logical choice. We used “Lakes” in the name, as well, because the community will be located on approximately 90 acres nestled among lakes, wetland preserves and wooded areas. |
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| Q. |
Where will Westcott Lakes be located? |
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Westcott Lakes will be located within the rapidly growing master-planned community of SouthWoodsm, a St. Joe Hometown in Tallahassee. The SouthWood development currently includes golf, shopping, restaurants, houses of worship, schools, colleges, and many other amenities. Florida Travel & Life magazine has recently ranked SouthWood as the No. 1 community among Florida’s “Five New Urban Communities to Watch.” |
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Do I have to be an alumni of FSU to become a member? |
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No, although the FSU “family” will be given the first opportunity to sign up for membership at Westcott Lakes. Based on our experience, we anticipate a diverse representation from those who have no formal affiliation with FSU, but who are attracted by the unique benefits that a university-related community provides. |
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| Q. |
The concept interests me — but I’m not sure I’m ready yet. When should I consider Westcott Lakes? |
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Often, people who say they are “not ready yet,” still think of communities like Westcott Lakes as the stereotypical, “old school” retirement community. The truth is that, as a brand new Life Fulfilling Community, Westcott Lakes is a very different concept — providing not only the unique security and assurances of Life Care — but also the maintenance-free lifestyle that enables you to do what you want to do . . . not what you have to do. You will find that members of LFCs fit a whole variety of profiles; but as a rule, they are forward-thinking, positive adults who intentionally choose this path because it best suits the quality of life they are seeking. For some, that means continuing to work; for others, it means volunteering in the community, traveling, or pursuing a lifelong passion. LFC members share a commitment to staying healthy and fit . . . seeking out intellectual stimulation . . . and living life on their own terms. The university-related Life Fulfilling Community enables that lifestyle. |
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| Q. |
Is there an age requirement to join? |
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You are eligible to become a member if you are age 62 or above by the time of your move to Westcott Lakes, although a spouse or second occupant may be younger. |
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Are there any other requirements for membership? |
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Yes. Westcott Lakes is designed for people who are active and independent at the time they reserve their home, so a health screening is required. Financial assessments are also conducted to make sure that members have the resources to remain financially independent. |
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| Q. |
What will residences at Westcott Lakes be like? |
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Westcott Lakes will offer a mix of apartment residences and single-family homes in a gated, country-club-style community setting. |
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Will I be able to enhance my Westcott Lakes home with options and upgrades? |
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Absolutely. Once a floor plan has been selected, you will be able to enhance your home with options and upgrades that suit your tastes and budget. |
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What amenities will be offered? |
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Westcott Lakes will offer more than 60,000 square feet of extraordinary venues for dining, wellness, performing and creative arts, learning and socializing. The commons areas will include among others, a state-of-the-art Fitness Club, heated pool, library, business/communication center and venues for creative and performing arts — as well as options for formal, private, casual and take-out dining. Site amenities will include tennis courts, picnic areas, walking trails and bike paths. |
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Will pets be allowed? |
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Absolutely! Life Fulfilling Communities are pet-friendly. |
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| Q. |
How much do residences at Westcott Lakes cost? |
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For current pricing information, please call one of our Life Plan Consultants at the Westcott Lakes Welcome Center, (850) 645-7110 or toll free at (866) 510-1515. |
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| Q. |
What fees will members have to pay? |
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Communities like Westcott Lakes — which provide lifetime residences and healthcare — require an entrance fee and ongoing monthly fee for services and amenities. The entrance fee ensures that we will be able to provide our members with top-quality services and amenities. A portion of the entrance fee includes a pre-funded component for healthcare services — very much like a long-term care insurance policy. |
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Is the entrance fee refundable? |
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Westcott Lakes will offer various entrance fee refund plans, ranging from one that is partially refundable over a specified time period to one where nearly all of your entrance fee is refunded to you or your estate. |
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How do I know if I can afford Westcott Lakes? |
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As previously mentioned, an initial financial assessment will be done to determine if Westcott Lakes is affordable for you. Often, when members take into account everything that is included in the entrance and monthly fees, they realize what an extraordinary value a Life Fulfilling Community truly is. |
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What types of healthcare will be offered? |
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The central focus of Life Fulfilling Communities like Westcott Lakes is the promotion of health and well-being through holistic, preventive and treatment-oriented programs. However, should you need healthcare services, we offer a full continuum — including all-private accommodations in assisted living, skilled nursing, rehabilitation and memory support. Short of acute hospital care, everything you may need is conveniently located right in the community. |
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| Q. |
What exactly is “Life Care”? |
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Essentially, a Life Care plan ensures that community members have on-site access to a continuum of healthcare services. Westcott Lakes will offer a “Type A” Life Care program that allows guaranteed access to unlimited care in private accommodations in assisted living, memory support, and skilled nursing at a considerable discount to the market rate. Westcott Lakes will be the only community in the Tallahassee area to offer such a value. |
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| Q. |
Will a change in my health affect my ability to move in? |
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No. Westcott Lakes is ONLY community to offer “Life Care Now” – which means that once you have passed the Health & Financial Assessments and have been approved through the residency application, you will be part of Westcott Lakes under the Life Care contract . . . even if your health status should change prior to opening. |
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| Q. |
What if I outlive my assets? |
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As a not-for-profit community, Westcott Lakes is committed — through fundraising and other means — to the corporate value that members will never have to leave the community if their financial position becomes insufficient through no fault of their own. |
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| Q. |
What is the benefit of signing up early? |
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There are several advantages of getting in on the “ground floor.” Pre-construction prices for Westcott Lakes will be the lowest they will ever be — so the financial savings are significant to sign up early. Second, you will get first choice of floor plans and preferred locations. In addition, as a founding member, you will have an important voice in shaping the community that will become your future home. To take advantage of these benefits, see “I’m interested! What is the next step?” below. |
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| Q. |
I’m interested! What is the next step? |
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Westcott Lakes is now taking 10% Deposits. If you are interested in joining our exciting new Life Fulfilling Community®, please call our marketing office toll-free
(1-866-510-1515) to schedule an appointment to visit our Welcome Center and tour our Apartment Model Residence. |
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For additional information you may contact a representative of Westcott Lakes by phone
or stop by and visit us at:
Westcott Lakes Welcome Center & Model
3800 Esplanade Way, Suite 180
Tallahassee, FL 32311
Phone: 866-510-1515 |
