Carmel Hills
2801 Carmel Road, Charlotte, North Carolina 28226 · Community website
- Operator:
- Carmel Hills, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Plymouth Brethren (board drawn from the fellowship, approved by Charlotte Gospel Hall)
- Opened:
- 1980
- Type B (modified)
- Type C (fee for service)
Figures from the 2026 disclosure statement (fiscal 2026 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
- Maple Declining Refund (0% after 21 months)Can decline to nothing
- Magnolia Residency Fee (nonrefundable after 30 days)Terms not disclosed in the 2026 filing
Days cash on hand
Read the note on this figure
Coverage swings widely (1.33x to 6.85x) because Carmel Hills is paying off small individually held bonds as they mature; debt service is about $56,000 a year (p26, p31).
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.
- Type C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type B (modified)The filing calls it Declining Refund Contract (Maple plan); we class contracts by how care is priced (our definitions).
Guaranteed admission to the on-site assisted living unit at a fixed reduced monthly fee of $4,050 (about 37-39% below the Magnolia rate). For nursing care outside, Carmel Hills pays the facility's basic semi-private charge not covered by insurance, as long as the resident keeps paying the monthly fee.p. 74
- Assisted living
- Fixed $4,050 a month for a semi-private room (the duplex monthly rate plus an additional fee set by the Board), against $6,395-$6,635 under the Magnolia plan; $2,000 private room surcharge.
- Nursing care
- No nursing beds on site. If moved to an approved outside nursing facility, Carmel Hills pays its basic semi-private monthly charge not covered by insurance or Medicare, while the resident keeps paying the Monthly Cost-of-Care plus additional fees; ancillaries excluded.
- Priority for a bed
- Yes, residents come before outside admissions
Type C (fee for service)The filing calls it No Entrance Fee Contract (Magnolia plan); we class contracts by how care is priced (our definitions).
Priority over outside applicants for the assisted living unit, but no guaranteed bed and no discount on assisted living fees.p. 84
- Assisted living
- Current assisted living rate: $6,395-$6,635 a month for a semi-private room, plus $2,000 private room surcharge.
- Nursing care
- No nursing beds on site; no nursing benefit stated in the contract.
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 39 |
|---|---|
| Assisted living | 32 |
| 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.
Magnolia Plan (No Entrance Fee Contract) · Type C (fee for service) (7 prices, $12,005 to $19,210)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| A (Studio) | Magnolia Residency Fee (nonrefundable after 30 days) | $12,005p. 15 | Not listed |
| B (Studio) | Magnolia Residency Fee (nonrefundable after 30 days) | $12,895p. 15 | $9,475 |
| C (1 bed/bath) | Magnolia Residency Fee (nonrefundable after 30 days) | $15,320p. 15 | $9,475 |
| D (2 bed/bath) | Magnolia Residency Fee (nonrefundable after 30 days) | $17,920p. 15 | $9,475 |
| E (2 bed/bath) | Magnolia Residency Fee (nonrefundable after 30 days) | $17,920p. 15 | $9,475 |
| Duplex | Magnolia Residency Fee (nonrefundable after 30 days) | $19,210p. 15 | $9,475 |
| Cabin | Magnolia Residency Fee (nonrefundable after 30 days) | $16,600p. 15 | $9,475 |
Maple Plan (Declining Refund Contract) · Type B (modified) (7 prices, $115,665 to $279,035)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| A (Studio) | Maple Declining Refund (0% after 21 months) | $115,665p. 15 | Not listed |
| B (Studio) | Maple Declining Refund (0% after 21 months) | $140,770p. 15 | $100,505 |
| C (1 bed/bath) | Maple Declining Refund (0% after 21 months) | $175,820p. 15 | $100,505 |
| D (2 bed/bath) | Maple Declining Refund (0% after 21 months) | $251,130p. 15 | $100,505 |
| E (2 bed/bath) | Maple Declining Refund (0% after 21 months) | $251,130p. 15 | $100,505 |
| Duplex | Maple Declining Refund (0% after 21 months) | $279,035p. 15 | $100,505 |
| Cabin | Maple Declining Refund (0% after 21 months) | $213,480p. 15 | $100,505 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Magnolia Plan (No Entrance Fee Contract) · Type C (fee for service) (15 prices, $2,705 to $6,635)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Non-Lakeview A Unit (Studio) | Independent living | $2,705p. 13 | $2,130 |
| Non-Lakeview B Unit (Studio) | Independent living | $2,905p. 13 | $2,130 |
| Non-Lakeview C Unit (1 bed/bath) | Independent living | $3,445p. 13 | $2,130 |
| Non-Lakeview D Unit (2 bed/bath) | Independent living | $4,030p. 13 | $2,130 |
| Non-Lakeview E Unit (2 bed/bath) | Independent living | $4,030p. 13 | $2,130 |
| Non-Lakeview Cabin (1 bed/bath) | Independent living | $3,740p. 13 | $2,130 |
| Non-Lakeview Cottage/Duplex (2 bed/bath) | Independent living | $4,320p. 13 | $2,130 |
| Lakeview A Unit (Studio) | Independent living | $3,030p. 13 | $2,130 |
| Lakeview B Unit (Studio) | Independent living | $3,225p. 13 | $2,130 |
| Lakeview C Unit (1 bed/bath) | Independent living | $3,855p. 13 | $2,130 |
| Lakeview D Unit (2 bed/bath) | Independent living | $4,515p. 13 | $2,130 |
| Lakeview Cottage/Duplex (2 bed/bath) | Independent living | $4,840p. 13 | $2,130 |
| Assisted Living semi-private room with full bath | Assisted living | $6,635p. 13 | Not listed |
| Assisted Living semi-private room with no shower | Assisted living | $6,500p. 13 | Not listed |
| Assisted Living semi-private room with shared restroom | Assisted living | $6,395p. 13 | Not listed |
Maple Plan (Declining Refund Contract) · Type B (modified) (15 prices, $1,810 to $4,050)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Non-Lakeview A Unit (Studio) | Independent living | $1,810p. 13 | $1,390 |
| Non-Lakeview B Unit (Studio) | Independent living | $1,865p. 13 | $1,390 |
| Non-Lakeview C Unit (1 bed/bath) | Independent living | $2,190p. 13 | $1,390 |
| Non-Lakeview D Unit (2 bed/bath) | Independent living | $2,380p. 13 | $1,390 |
| Non-Lakeview E Unit (2 bed/bath) | Independent living | $2,380p. 13 | $1,390 |
| Non-Lakeview Cabin (1 bed/bath) | Independent living | $2,280p. 13 | $1,390 |
| Non-Lakeview Cottage/Duplex (2 bed/bath) | Independent living | $2,515p. 13 | $1,390 |
| Lakeview A Unit (Studio) | Independent living | $2,025p. 13 | $1,390 |
| Lakeview B Unit (Studio) | Independent living | $2,085p. 13 | $1,390 |
| Lakeview C Unit (1 bed/bath) | Independent living | $2,450p. 13 | $1,390 |
| Lakeview D Unit (2 bed/bath) | Independent living | $2,665p. 13 | $1,390 |
| Lakeview Cottage/Duplex (2 bed/bath) | Independent living | $2,815p. 13 | $1,390 |
| Assisted Living semi-private room with full bath | Assisted living | $4,050p. 13 | Not listed |
| Assisted Living semi-private room with no shower | Assisted living | $4,050p. 13 | Not listed |
| Assisted Living semi-private room with shared restroom | Assisted living | $4,050p. 13 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | Non-Lakeview units | 3% | Percent onlyp. 14 |
| 2025 | Independent living | All units | 2.5% | Percent onlyp. 14 |
| 2024 | Independent living | All units | 3% | Percent onlyp. 14 |
| 2023 | Independent living | All units | 3.5% | Percent onlyp. 14 |
| 2022 | Independent living | All units | 5% | Percent onlyp. 14 |
| 2026 | Assisted living | All units | 4% | Percent onlyp. 14 |
| 2025 | Assisted living | All units | 2.5% | Percent onlyp. 14 |
| 2024 | Assisted living | All units | 3% | Percent onlyp. 14 |
| 2023 | Assisted living | All units | 20% | Percent onlyp. 14 |
| 2022 | Assisted living | All units | 5% | Percent onlyp. 14 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Maple Declining Refund (0% after 21 months)p. 20
Refundable, less cleaning and repair costs, within the 30-day rescission period (the contract counts it from signing or receipt of the disclosure; the disclosure narrative says the first 30 days after move-in). After that 75% is refundable until day 90, then the refund drops by a further 4% of the entrance fee for each 30-day period, reaching nothing after 21 months. Any refund is paid only once the unit is available for re-occupancy, less $100 a day for any assisted living or nursing days in the first month.
- Kept on move-in
- 25% of the fee
- Declines by
- 4% a month for 21 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Magnolia Residency Fee (nonrefundable after 30 days)p. 21
Refunded in full (less the application fee) only if the agreement is rescinded or cancelled before move-in. The Magnolia contract lets Carmel Hills keep the entire residency fee once occupancy has begun (para 12(a)); the disclosure narrative (Sections 22.1, 24.2) instead describes a full refund, less repair costs, during the first 30 days after move-in.
- Kept on move-in
- 100% of the fee
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2026 filing
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: when your unit is re-occupied and the new resident has paid. 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.
- Balance sheet and ratios: Carmel Hills, Inc.
Days cash on hand
199 days FY2026p. 2
- 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
6.85x FY2026p. 2
- 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 figuresCoverage swings widely (1.33x to 6.85x) because Carmel Hills is paying off small individually held bonds as they mature; debt service is about $56,000 a year (p26, p31).
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 | FY2026p. 39 | FY2025p. 2 | FY2024p. 2 |
|---|---|---|---|
| Days cash on hand | 199 days | 93 days | 119 days |
| Debt service coverage | 6.85x | 1.33x | 1.62x |
| Operating margin | 4.2% | 3.8% | 3.1% |
| Total assets | $4.7 million | $3.6 million | Not disclosed |
| Total liabilities | $3.7 million | $2.9 million | Not disclosed |
| Long-term debt | $149,500 | $222,525 | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $3.0 million | $2.0 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $310,542 | $399,652 | Not disclosed |
| Net position (assets minus liabilities) | $985,535 | $733,826 | Not disclosed |
Auditor: Foard & Company, P.A.. Opinion: Unmodified (clean) opinionp. 39
Occupancy
Nursing care on campus
The filing lists no nursing beds on campus, so there is no CMS nursing-home record to show.
In brief
Carmel Hills in Charlotte, NC is a nonprofit retirement community formed for people associated with the Plymouth Brethren, with 39 independent living units and 32 assisted living beds and no nursing beds. It offers a Maple plan (entrance fee from $115,665 declining to no refund after 21 months, guaranteed assisted living at a fixed reduced fee) and a Magnolia plan (residency fee from $12,005, higher monthly fees, assisted living at the full rate). Affiliated applicants pay about 17% less.PDF
Nearest communities in North Carolina
- The Sharon at SouthPark
Charlotte · 2 miles away
Entrance fee: $26,500 to $907,300
- Brookdale Carriage Club Providence
Charlotte · 2 miles away
Entrance fee: None: rental
- The Barclay at SouthPark
Charlotte · 2 miles away
Entrance fee: Not disclosed in the 2026 filing
Sources
- Carmel Hills — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2026 finances · 90 pages · retrieved 2026-10-15
Each page tab above opens this PDF at the page the figure came from. Spotted a figure that does not match its page? Tell us and it is checked against the filing.