Harbor's Edge

One Colley Avenue, Norfolk, Virginia 23510

Operator:: Fort Norfolk Retirement Community, Inc.
Ownership:: Nonprofit
Affiliation:: Not disclosed in the 2024 filing
Opened:: 2006

FNRC owns the buildings; the land is leased from the Norfolk Redevelopment and Housing Authority and the City of Norfolk under a 60-year lease effective January 1, 2007 (p3, p137).

Type A (life care)

Figures from the 2024 disclosure statement (fiscal 2023 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF The finances describe fiscal 2023; this is the newest statement we have for Harbor's Edge, and a later one may have been filed since.

At a glance

Entrance fee, one person, every plan

$283,079 to $2,164,084p. 14

Monthly fee, independent living

$4,213 to $9,196p. 15 p. 14

Refund plans offered

80% RefundNever less than 80% of the fee
50% RefundNever less than 50% of the fee
0% RefundCan decline to nothing

Days cash on hand

200 (FY2023)p. 120Lenders' minimum not disclosed.

Independent living occupancy

78% (2023)p. 150

Nursing care, CMS overall rating

5 of 5CMS data as of 2026-09-01

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 A (life care): Moving to assisted living or nursing leaves your monthly fee essentially unchanged.

How the contract types compare

Type A (life care)

Life Care residents who move permanently to assisted living, memory support or nursing keep paying their apartment's monthly fee plus a $700 monthly transition fee, regardless of level of care (p16). Residents get priority admission to assisted living and the Nursing Center (p10).p. 16

Assisted living: On permanent transfer: the then-current Monthly Service Fee for the resident's apartment plus a $700/month Transition Fee per resident (covers two extra meals daily); standard accommodation, upgrades extra.
Nursing care: Same as assisted living: Monthly Service Fee plus $700/month Transition Fee; no additional charge by level of care. Temporary stays before releasing the apartment are billed at the direct-admit daily rate ($405-$540/day) in addition to the apartment fee.
Priority for a bed: Yes, residents come before outside admissions

Units on campusp. 150
Independent living	295
Assisted living	40
Memory care	32
Nursing care	33

Entrance fees

One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.

Life Care Agreement · Type A (life care) (87 prices, $283,079 to $2,164,084)

Unit	Sq ft	Refund plan	Price, one person	Second person
Harbor Tower One Bedroom — Traditional	842	80% Refund	$471,798p. 14	$96,000
Harbor Tower One Bedroom — Traditional	842	50% Refund	$374,136p. 14	$96,000
Harbor Tower One Bedroom — Traditional	842	0% Refund	$283,079p. 14	$96,000
Harbor Tower One Bedroom — Deluxe	1,110	80% Refund	$654,220p. 14	$96,000
Harbor Tower One Bedroom — Deluxe	1,110	50% Refund	$518,797p. 14	$96,000
Harbor Tower One Bedroom — Deluxe	1,110	0% Refund	$392,532p. 14	$96,000
Harbor Tower One Bedroom — Classic	1,129	80% Refund	$773,815p. 14	$96,000
Harbor Tower One Bedroom — Classic	1,129	50% Refund	$613,635p. 14	$96,000
Harbor Tower One Bedroom — Classic	1,129	0% Refund	$464,289p. 14	$96,000
Harbor Tower Two Bedroom — Select	1,277	80% Refund	$844,285p. 14	$96,000
Harbor Tower Two Bedroom — Select	1,277	50% Refund	$669,518p. 14	$96,000
Harbor Tower Two Bedroom — Select	1,277	0% Refund	$506,571p. 14	$96,000
Harbor Tower Two Bedroom — Estate	1,537	80% Refund	$1,184,312p. 14	$96,000
Harbor Tower Two Bedroom — Estate	1,537	50% Refund	$939,160p. 14	$96,000
Harbor Tower Two Bedroom — Estate	1,537	0% Refund	$710,587p. 14	$96,000
Harbor Tower Two Bedroom — Deluxe	1,099	80% Refund	$746,557p. 14	$96,000
Harbor Tower Two Bedroom — Deluxe	1,099	50% Refund	$592,019p. 14	$96,000
Harbor Tower Two Bedroom — Deluxe	1,099	0% Refund	$447,934p. 14	$96,000
Harbor Tower Two Bedroom — Classic	1,272	80% Refund	$855,489p. 14	$96,000
Harbor Tower Two Bedroom — Classic	1,272	50% Refund	$678,403p. 14	$96,000
Harbor Tower Two Bedroom — Classic	1,272	0% Refund	$513,293p. 14	$96,000
Harbor Tower Two Bedroom — Elite	1,617	80% Refund	$1,349,858p. 14	$96,000
Harbor Tower Two Bedroom — Elite	1,617	50% Refund	$1,070,437p. 14	$96,000
Harbor Tower Two Bedroom — Elite	1,617	0% Refund	$809,915p. 14	$96,000
Harbor Tower Two Bedroom — Custom	1,125	80% Refund	$625,489p. 14	$96,000
Harbor Tower Two Bedroom — Custom	1,125	50% Refund	$496,013p. 14	$96,000
Harbor Tower Two Bedroom — Custom	1,125	0% Refund	$375,294p. 14	$96,000
Harbor Tower Two Bedroom — Grand	1,459	80% Refund	$904,376p. 14	$96,000
Harbor Tower Two Bedroom — Grand	1,459	50% Refund	$717,170p. 14	$96,000
Harbor Tower Two Bedroom — Grand	1,459	0% Refund	$542,625p. 14	$96,000
Harbor Tower Two Bedroom — Traditional	1,100	80% Refund	$690,365p. 14	$96,000
Harbor Tower Two Bedroom — Traditional	1,100	50% Refund	$547,459p. 14	$96,000
Harbor Tower Two Bedroom — Traditional	1,100	0% Refund	$414,219p. 14	$96,000
Harbor Tower Three Bedroom — Traditional	1,822	80% Refund	$1,429,276p. 14	$96,000
Harbor Tower Three Bedroom — Traditional	1,822	50% Refund	$1,133,416p. 14	$96,000
Harbor Tower Three Bedroom — Traditional	1,822	0% Refund	$857,566p. 14	$96,000
Harbor Tower One Bedroom — Signature	1,239	80% Refund	$540,902p. 14	$96,000
Harbor Tower One Bedroom — Signature	1,239	50% Refund	$714,891p. 14	$96,000
Harbor Tower One Bedroom — Signature	1,239	0% Refund	$540,901p. 14	$96,000
Harbor Tower Two Bedroom — Signature	1,532	80% Refund	$1,211,297p. 14	$96,000
Harbor Tower Two Bedroom — Signature	1,532	50% Refund	$960,558p. 14	$96,000
Harbor Tower Two Bedroom — Signature	1,532	0% Refund	$726,778p. 14	$96,000
Harbor Tower Three Bedroom — Signature	2,489	80% Refund	$2,164,084p. 14	$96,000
Harbor Tower Three Bedroom — Signature	2,489	50% Refund	$1,716,118p. 14	$96,000
Harbor Tower Three Bedroom — Signature	2,489	0% Refund	$1,298,450p. 14	$96,000
Harbor Tower Combination Units — Signature	2,335	80% Refund	$1,412,939p. 14	$96,000
Harbor Tower Combination Units — Signature	2,335	50% Refund	$1,120,461p. 14	$96,000
Harbor Tower Combination Units — Signature	2,335	0% Refund	$847,763p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Plan A East/West - Floors 4-10	1,085	80% Refund	$633,675p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Plan A East/West - Floors 4-10	1,085	50% Refund	$506,940p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Plan A East/West - Floors 4-10	1,085	0% Refund	$430,899p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath — Plan B - Floors 5-22	1,139	80% Refund	$797,253p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath — Plan B - Floors 5-22	1,139	50% Refund	$637,803p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath — Plan B - Floors 5-22	1,139	0% Refund	$542,132p. 14	$96,000
River Tower 2 Bedroom/1.5 Bath — Plan C - Floors 4-22	1,124	80% Refund	$767,226p. 14	$96,000
River Tower 2 Bedroom/1.5 Bath — Plan C - Floors 4-22	1,124	50% Refund	$613,780p. 14	$96,000
River Tower 2 Bedroom/1.5 Bath — Plan C - Floors 4-22	1,124	0% Refund	$521,713p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan E - Floors 4-22	1,650	80% Refund	$1,142,162p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan E - Floors 4-22	1,650	50% Refund	$913,730p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan E - Floors 4-22	1,650	0% Refund	$776,670p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Plan F East/West - Floors 4-22	1,587	80% Refund	$1,171,853p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Plan F East/West - Floors 4-22	1,587	50% Refund	$937,482p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Plan F East/West - Floors 4-22	1,587	0% Refund	$796,860p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan H - Floors 4-22	2,030	80% Refund	$1,323,153p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan H - Floors 4-22	2,030	50% Refund	$1,058,522p. 14	$96,000
River Tower 2 Bedroom/2.5 Bath — Plan H - Floors 4-22	2,030	0% Refund	$899,744p. 14	$96,000
River Tower 3 Bedroom/2.5 Bath — Plan G - Floors 11-22	2,179	80% Refund	$1,583,302p. 14	$96,000
River Tower 3 Bedroom/2.5 Bath — Plan G - Floors 11-22	2,179	50% Refund	$1,266,641p. 14	$96,000
River Tower 3 Bedroom/2.5 Bath — Plan G - Floors 11-22	2,179	0% Refund	$1,076,645p. 14	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Flat 1 - Floors 1-2	1,035	80% Refund	$614,802p. 15	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Flat 1 - Floors 1-2	1,035	50% Refund	$491,841p. 15	$96,000
River Tower 1 Bedroom/1.5 Bath w/Office — Flat 1 - Floors 1-2	1,035	0% Refund	$418,065p. 15	$96,000
River Tower 1 Bedroom/1.5 Bath — Flat 2 (N&S) - Floors 1-2	998	80% Refund	$612,205p. 15	$96,000
River Tower 1 Bedroom/1.5 Bath — Flat 2 (N&S) - Floors 1-2	998	50% Refund	$489,764p. 15	$96,000
River Tower 1 Bedroom/1.5 Bath — Flat 2 (N&S) - Floors 1-2	998	0% Refund	$416,299p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath — Flat 3 (N&S) - Floors 1-2	1,559	80% Refund	$931,046p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath — Flat 3 (N&S) - Floors 1-2	1,559	50% Refund	$744,836p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath — Flat 3 (N&S) - Floors 1-2	1,559	0% Refund	$633,111p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Flats 4 & 5 - Floors 1-2	1,396	80% Refund	$792,957p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Flats 4 & 5 - Floors 1-2	1,396	50% Refund	$634,366p. 15	$96,000
River Tower 2 Bedroom/2.5 Bath w/Office — Flats 4 & 5 - Floors 1-2	1,396	0% Refund	$539,211p. 15	$96,000
River Tower Penthouse Units — Penthouse (S&E) - Floors 23-24	2,455	80% Refund	$2,011,513p. 15	$96,000
River Tower Penthouse Units — Penthouse (S&E) - Floors 23-24	2,455	50% Refund	$1,609,210p. 15	$96,000
River Tower Penthouse Units — Penthouse (S&E) - Floors 23-24	2,455	0% Refund	$1,367,829p. 15	$96,000
River Tower Combination Units — Combination	2,335	80% Refund	$1,412,939p. 15	$96,000
River Tower Combination Units — Combination	2,335	50% Refund	$1,120,461p. 15	$96,000
River Tower Combination Units — Combination	2,335	0% Refund	$847,763p. 15	$96,000

Monthly fees

What residents pay each month, by contract and level of care. A second person adds the amount shown.

Life Care Agreement · Type A (life care) (29 prices, $4,213 to $9,196)

Unit	Level of care	Per month, one person	Second person
Harbor Tower One Bedroom — Traditional	Independent living	$5,006p. 14	$1,600
Harbor Tower One Bedroom — Deluxe	Independent living	$5,392p. 14	$1,600
Harbor Tower One Bedroom — Classic	Independent living	$5,583p. 14	$1,600
Harbor Tower Two Bedroom — Select	Independent living	$6,354p. 14	$1,600
Harbor Tower Two Bedroom — Estate	Independent living	$7,129p. 14	$1,600
Harbor Tower Two Bedroom — Deluxe	Independent living	$5,969p. 14	$1,600
Harbor Tower Two Bedroom — Classic	Independent living	$6,548p. 14	$1,600
Harbor Tower Two Bedroom — Elite	Independent living	$7,319p. 14	$1,600
Harbor Tower Two Bedroom — Custom	Independent living	$5,583p. 14	$1,600
Harbor Tower Two Bedroom — Grand	Independent living	$7,129p. 14	$1,600
Harbor Tower Two Bedroom — Traditional	Independent living	$5,774p. 14	$1,600
Harbor Tower Three Bedroom — Traditional	Independent living	$7,510p. 14	$1,600
Harbor Tower One Bedroom — Signature	Independent living	$7,224p. 14	$1,600
Harbor Tower Two Bedroom — Signature	Independent living	$6,932p. 14	$1,600
Harbor Tower Three Bedroom — Signature	Independent living	$9,196p. 14	$1,600
Harbor Tower Combination Units — Signature	Independent living	$8,668p. 14	$1,600
River Tower 1 Bedroom/1.5 Bath w/Office — Plan A East/West - Floors 4-10	Independent living	$4,438p. 14	$1,600
River Tower 1 Bedroom/1.5 Bath — Plan B - Floors 5-22	Independent living	$5,056p. 14	$1,600
River Tower 2 Bedroom/1.5 Bath — Plan C - Floors 4-22	Independent living	$5,056p. 14	$1,600
River Tower 2 Bedroom/2.5 Bath — Plan E - Floors 4-22	Independent living	$6,160p. 14	$1,600
River Tower 2 Bedroom/2.5 Bath w/Office — Plan F East/West - Floors 4-22	Independent living	$6,374p. 14	$1,600
River Tower 2 Bedroom/2.5 Bath — Plan H - Floors 4-22	Independent living	$6,741p. 14	$1,600
River Tower 3 Bedroom/2.5 Bath — Plan G - Floors 11-22	Independent living	$7,303p. 14	$1,600
River Tower 1 Bedroom/1.5 Bath w/Office — Flat 1 - Floors 1-2	Independent living	$4,269p. 15	$1,600
River Tower 1 Bedroom/1.5 Bath — Flat 2 (N&S) - Floors 1-2	Independent living	$4,213p. 15	$1,600
River Tower 2 Bedroom/2.5 Bath — Flat 3 (N&S) - Floors 1-2	Independent living	$5,534p. 15	$1,600
River Tower 2 Bedroom/2.5 Bath w/Office — Flats 4 & 5 - Floors 1-2	Independent living	$4,756p. 15	$1,600
River Tower Penthouse Units — Penthouse (S&E) - Floors 23-24	Independent living	$8,061p. 15	$1,600
River Tower Combination Units — Combination	Independent living	$8,668p. 15	$1,600

Fee increases, year by year

Independent living, yearly increase. Figures in the table.

Year	Level of care	Unit	Increase	Monthly fee, before and after
2024	Independent living	Current residents	5%	Percent onlyp. 18
2023	Independent living	All units	5%	Percent onlyp. 18
2022	Independent living	Harbor Tower	2.75%	Percent onlyp. 18
2022	Independent living	River Tower	0%	Percent onlyp. 18
2021	Independent living	All units	1.5%	Percent onlyp. 18
2020	Independent living	All units	2%	Percent onlyp. 18
2019	Independent living	All units	3.5%	Percent onlyp. 18
2018	Independent living	All units	2.5%	Percent onlyp. 18
2017	Independent living	All units	2.5%	Percent onlyp. 18

Refunds

What comes back from the entrance fee when you leave or die, and when it is paid.

80% Refundp. 42

A fixed 80% of the entrance fee is refunded without interest, less a $10,000 re-sale fee and any amounts owed; it does not decline over time. It is paid 30 days after Harbor's Edge receives enough refundable entrance-fee proceeds from the next re-sale(s) of any residence, first in, first out, with no cap on the wait.

Kept on move-in: Not disclosed in the 2024 filing
Declines by: Does not decline
Never less than: 80% of the fee
Longest wait: No limit stated
Paid: In turn, from a fund of new residents' entrance fees

50% Refundp. 42

A fixed 50% of the entrance fee is refunded without interest, less a $10,000 re-sale fee and any amounts owed; it does not decline over time. It is paid 30 days after Harbor's Edge receives enough refundable entrance-fee proceeds from the next re-sale(s) of any residence, first in, first out, with no cap on the wait.

Kept on move-in: Not disclosed in the 2024 filing
Declines by: Does not decline
Never less than: 50% of the fee
Longest wait: No limit stated
Paid: In turn, from a fund of new residents' entrance fees

0% Refundp. 42

The entrance fee is non-refundable after occupancy.

Kept on move-in: Not disclosed in the 2024 filing
Declines by: Does not decline
Never less than: Nothing: it can decline to zero
Longest wait: No limit stated
Paid: Not disclosed in the 2024 filing

Refund calculator

Refund planEntrance fee paid ($)Years until moving out or death

Estimated refund: $377,438 (80% of the fee)

When it is paid: in turn, from a fund of new residents' entrance fees. 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: Fort Norfolk Retirement Community, Inc. and Affiliate (Foundation), consolidated.
Ratios: Fort Norfolk Retirement Community, Inc.

Days cash on hand

200 days FY2023p. 120

Its lenders’ minimum: Not disclosed in the 2024 filing
Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs

Debt service coverage

2.98x FY2023p. 120

Its lenders’ minimum: Not disclosed in the 2024 filing
Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs

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	FY2023p. 120	FY2022p. 120
Days cash on hand	200 days	Not disclosed
Debt service coverage	2.98x	Not disclosed
Operating margin	-1.9%	Not disclosed
Total assets	$289.0 million	$286.2 million
Total liabilities	$358.1 million	$349.1 million
Long-term debt	$145.4 million	$148.2 million
Entrance fees not yet earned (deferred revenue)	$66.9 million	$59.0 million
Refunds owed to residents (refundable fee liability)	$129.0 million	Not disclosed
Net position (assets minus liabilities)	−$69.1 million	−$62.9 million

Auditor: Walker Healthcare Services Group (a division of King, Shores & Preston, LLC). Opinion: Unmodified (clean) opinionp. 120

Occupancy

Level of care	2023p. 150
Independent living	78%
Assisted living	74%
Memory care	43%
Nursing care	82%

Events the filing reports

Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.

2022-12 River Tower expansion completed: 24-story tower with 139 independent living apartments, financed by Series 2019 bonds (p8, p136).p. 8

Nursing care on campus

From CMS Care Compare, data as of 2026-09-01. These are the federal government’s ratings of the nursing center, not ours.

Overall: 5 of 5
Health inspections: 5 of 5
Staffing: 5 of 5
Quality measures: 4 of 5

Fines recorded by CMS: 0. Health citations since 2023-10-16: 2. HARBOR'S EDGE on Care Compare

In brief

Harbor's Edge is a nonprofit continuing care retirement community in downtown Norfolk, Virginia, open since 2006, with two residential towers, assisted living, memory support and a 33-bed nursing center. It offers a Life Care contract with 80%, 50% or 0% refundable entrance fees from $283,079 to $2,164,084 in 2024, with refunds paid from re-sales of residences. For the year ended September 30, 2023 it reported 200 days cash on hand, a 2.98 debt service coverage ratio and a net deficit of $69.1 million.PDF

Nearest communities in Virginia

Westminster-Canterbury on Chesapeake Bay
Virginia Beach · 13 miles away
Entrance fee: $113,700 to $2,781,200
Lake Prince Woods
Suffolk · 18 miles away
Entrance fee: $70,500 to $792,750
The Chesapeake
Newport News · 18 miles away
Entrance fee: $149,000 to $855,000

Sources

Harbor's Edge — 2024 Annual Disclosure Statement (FY2023)Virginia State Corporation Commission, Bureau of Insurance · filed 2024, fiscal 2023 finances · 154 pages · retrieved 2026-10-15

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