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A little help around the house

The couple, both in their early 70s, have lived in the same house in the North Ridge subdivision for 31 years. They go to church in the neighborhood and many of their neighbors are treasured friends.

But recently, the Dascombes decided to uproot themselves and plan to move to a new continuing-care retirement community expected to break ground next year, The Cypress of Raleigh. They'll own their home and have easy access to health care -- there is even a nursing home on site -- as they grow older. They'll pay a monthly fee for meals, weekly maid service, yardwork, home maintenance and repair and other services.

"The main thing was not to be a burden," said Mary Dascombe, who watched her own parents struggle to care for her grandparents. "I just don't want that stress to be on our children."

The Dascombes won't even have to go far when their 2,200 square foot "cottage" is ready. The Cypress , planned for a 48-acre site at Strickland and Lead Mine roads, will be only about 2.5 miles from where they live now.

The Cypress would be the first continuing-care retirement community to open in Raleigh since 1984 and the latest to target Wake County 's growing older population, which state demographers expect to double to about 120,000 by 2020.

Such communities are hot properties among developers, who think they will be especially attractive to affluent baby boomers accustomed to independence and active lifestyles.

Such communities allow several different levels of care, including independent living, assisted living and long-term care. Typically, nursing homes are open only to residents of the community.

At least two other developers have notified the state Department of Insurance, which regulates continuing-care retirement communities, of their intent to build in Wake County . Developers Kane Realty and Drucker & Falk want to build a community across from the former North Hills mall in Raleigh . And Cary architect Bill Sears is developing another, SearStone, in Cary .

For now, The Cypress, being built by Raleigh developer Michael Sandman, Mark Andrews and partners, is the only continuing-care retirement community in Wake County that offers residents the ability to own their home or apartment. The Kane project, which is not yet authorized to sell homes, also will offer ownership.

Owning allows residents to build equity in their home, which can be passed on to heirs. More typically, residents pay a substantial "entrance fee" to enter a retirement community -- money their heirs might not receive a portion of when the resident dies. Of the 55 continuing-care retirement communities in North Carolina , only two are ownership models: The Cedars of Chapel Hill and The Cypress of Charlotte.

Sandman said the Raleigh Cypress sold about 50 condominiums and houses during the first six weeks of presales. His mother, Elaine Sandman, was one of the buyers.

Prices range from $265,000 for an 813-square-foot condominium to $785,000 for a 2,779-square-foot house.