Ardenwoods
2400 Appalachian Boulevard, Arden, North Carolina 28704 · Community website
- Operator:
- ThriveMore (Baptist Retirement Homes of North Carolina, Incorporated)
- Ownership:
- Nonprofit
- Affiliation:
- Baptist (historical relationship with the Baptist State Convention of North Carolina)
- Opened:
- 2002
Acquired by ThriveMore in October 2023.
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- Standard (Traditional) 24-monthCan decline to nothing
- Ninety Percent RefundNever less than 90% of the fee
Days cash on hand
Read the note on this figure
Ratios are for all of ThriveMore, not Ardenwoods alone. The operating ratio was 116.3% and the net operating margin -15.4% in FY2025 (p5). The operating reserve shown is ThriveMore's; the statement gives Ardenwoods' operating reserve at 9/30/2025 as $1,751,435 (p27).
Independent living occupancy
Nursing care, CMS overall rating
What care costs later
How each contract prices assisted living and nursing if you need them. The contract type decides most of what a long stay costs.
- Type B (modified): A set number of care days is included, or care is charged at a stated discount.
How the contract types compare
Type B (modified)
Residents get priority admission to Heather Glen assisted living with no extra entrance payment and 14 free days of care over the life of the contract; after that they pay the full per diem rate.p. 48
- Assisted living
- 14 free health care days, then 100% of the published per diem rate. Heather Glen base private room $6,070 a month plus $560 (Level 1) or $840 (Level 2) for care; temporary stays keep paying the independent living monthly fee.
- Nursing care
- Not offered on campus; Ardenwoods is not licensed for long-term skilled nursing and residents needing it must relocate.
- Care days included
- 14
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 95 |
|---|---|
| Assisted living | 48 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | None on campus |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence and Services Agreement · Type B (modified) (6 prices, $271,000 to $484,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| One Bedroom | Ninety Percent Refund | $271,000p. 22 | $25,000 |
| One Bedroom w/ Patio | Ninety Percent Refund | $306,000p. 22 | $25,000 |
| Two Bedroom | Ninety Percent Refund | $371,000p. 22 | $25,000 |
| Two Bedroom w/ Patio | Ninety Percent Refund | $406,000p. 22 | $25,000 |
| Three Bedroom | Ninety Percent Refund | $449,000p. 22 | $25,000 |
| Three Bedroom w/ Patio | Ninety Percent Refund | $484,000p. 22 | $25,000 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Services Agreement · Type B (modified) (7 prices, $3,310 to $6,070)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| One Bedroom | Independent living | $3,310p. 22 | $1,000 |
| One Bedroom w/ Patio | Independent living | $3,310p. 22 | $1,000 |
| Two Bedroom | Independent living | $3,900p. 22 | $1,000 |
| Two Bedroom w/ Patio | Independent living | $3,900p. 22 | $1,000 |
| Three Bedroom | Independent living | $4,180p. 22 | $1,000 |
| Three Bedroom w/ Patio | Independent living | $4,180p. 22 | $1,000 |
| Heather Glen Base Level, Private | Assisted living | $6,070p. 22 | $1,770 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | One Bedroom | 5.1%calculated from the dollar amounts | $3,150 to $3,310p. 22 |
| 2026 | Assisted living | Base Level, Private | 7.1%calculated from the dollar amounts | $5,670 to $6,070p. 22 |
| 2025 | Independent living | One Bedroom | 2.1%calculated from the dollar amounts | $3,085 to $3,150p. 22 |
| 2025 | Assisted living | Base Level, Private | 2.9%calculated from the dollar amounts | $5,508 to $5,670p. 22 |
| 2024 | Independent living | One Bedroom | 3.9%calculated from the dollar amounts | $2,969 to $3,085p. 22 |
| 2024 | Assisted living | Base Level, Private | 4.9%calculated from the dollar amounts | $5,251 to $5,508p. 22 |
| 2023 | Independent living | One Bedroom | 5.6%calculated from the dollar amounts | $2,812 to $2,969p. 22 |
| 2023 | Assisted living | Base Level, Private | 5.3%calculated from the dollar amounts | $4,989 to $5,251p. 22 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standard (Traditional) 24-monthp. 53
4% of the entry fee is lost on the move-in date and another 4% for each month the agreement is in effect; after 24 months nothing is refundable. Any refund is paid when the unit is re-occupied or within two years of termination, whichever is sooner. The document gives no Ardenwoods price under this plan, and its projection notes say Ardenwoods offers only the Ninety Percent Refund Plan.
- Kept on move-in
- 4% of the fee
- Declines by
- 4% a month for 24 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- 24 months
- Paid
- When your unit is re-occupied or after 24 months, whichever is first
Ninety Percent Refundp. 41
4% of the entry fee is non-refundable and the refund declines 1% a month for 6 months, so it never falls below 90% of the original fee. The refund is paid on re-occupancy of the unit or 36 months after termination, whichever is earlier; the 2026 Ardenwoods entry fees are priced under this plan.
- Kept on move-in
- 4% of the fee
- Declines by
- 1% a month for 6 months
- Never less than
- 90% of the fee
- Longest wait
- 36 months
- Paid
- When your unit is re-occupied or after 36 months, whichever is first
Refund calculator
Estimated refund: 0%
When it is paid: when your unit is re-occupied or after 24 months, whichever is first. This applies the plan terms as recorded from the filing, counting a part month as a whole one. The signed contract governs, and charges you owe or care paid for from the fee can be deducted first.
How entrance-fee refunds work, and why the payment date matters
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Ardenwoods is part of ThriveMore (also Brookridge, The Gardens of Taylor Glen, Taylor House).
- Balance sheet: Baptist Retirement Homes of North Carolina, Inc. dba ThriveMore and Affiliate (consolidated).
- Ratios: ThriveMore (consolidated).
Days cash on hand
475.24 days FY2025p. 5
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
1.36x FY2025p. 5
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresRatios are for all of ThriveMore, not Ardenwoods alone. The operating ratio was 116.3% and the net operating margin -15.4% in FY2025 (p5). The operating reserve shown is ThriveMore's; the statement gives Ardenwoods' operating reserve at 9/30/2025 as $1,751,435 (p27).
How to read these figures: what each one measures and why a lender’s minimum is a floor, not a target.
Balance sheet and trend
| Fiscal year | FY2025p. 5 | FY2024p. 5 | FY2023p. 5 |
|---|---|---|---|
| Days cash on hand | 475.24 days | 509.74 days | 471.21 days |
| Debt service coverage | 1.36x | 2.47x | Not disclosed |
| Operating margin | -15.4% | -10.42% | -15.77% |
| Total assets | $230.0 million | $189.3 million | Not disclosed |
| Total liabilities | $154.8 million | $109.0 million | Not disclosed |
| Long-term debt | $82.4 million | $46.2 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $22.9 million | $22.0 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $27.6 million | $25.2 million | Not disclosed |
| Net position (assets minus liabilities) | $75.2 million | $80.3 million | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 5
Occupancy
The 2026 filing does not report occupancy.
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2023-10Ownership change ThriveMore acquired Ardenwoods.p. 3
Nursing care on campus
The filing lists no nursing beds on campus, so there is no CMS nursing-home record to show.
In brief
Ardenwoods in Arden, NC, about 12 miles south of Asheville, is a continuing care retirement community owned by the nonprofit ThriveMore since October 2023, with about 95 independent living apartments and the Heather Glen assisted living residence, and no skilled nursing. 2026 entry fees run from $271,000 to $484,000 under a plan that refunds at least 90% of the fee, and the contract includes 14 free days of health care before full per diem rates apply.PDF
Nearest communities in North Carolina
- Legacy at Mills River
Mills River · 4 miles away
Entrance fee: $588,430 to $1,940,885
- Deerfield Episcopal Retirement Community
Asheville · 5 miles away
Entrance fee: $325,485 to $989,573
- Givens Estates
Asheville · 5 miles away
Entrance fee: $151,809 to $1,508,902
Sources
- Ardenwoods Retirement Community — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 184 pages · retrieved 2026-10-15
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