Lake Prince Woods
100 Anna Goode Way, Suffolk, Virginia 23434
- Operator:
- Lake Prince Center, Inc. (managed by EveryAge)
- Ownership:
- Nonprofit
- Affiliation:
- Southern Conference of the United Church of Christ
- Opened:
- 2002
Lake Prince Center, Inc. is a North Carolina nonprofit and a wholly controlled subsidiary of EveryAge (formerly United Church Homes and Services), which provides management and employs staff.
- Type C (fee for service)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- Fully DecliningCan decline to nothing
- Minimum 50% RefundableNever less than 50% of the fee
Days cash on hand
Read the note on this figure
Days cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86).
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 C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type C (fee for service)
Fee-for-service: assisted living, memory care and nursing are available 'at fees current at such time as said services are needed and according to available space.' Any residency-fee refund due is escrowed to pay the resident's healthcare costs.p. 28
- Assisted living
- Per diem at current rates: Assisted Living studio $202/day, one bedroom $276/day single ($552 double), memory care $279/day (FY25/26).
- Nursing care
- Per diem at current rates: private $364/day, companion (semiprivate) $306/day (FY25/26).
| Independent living | 192 |
|---|---|
| Assisted living | 36 |
| Memory care | 16 |
| Nursing care | 40 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Fully Declining Residential Living Unit Residency Agreement · Type C (fee for service) (13 prices, $70,500 to $528,000)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Villa Homes | 1,350 to 1,680 | Fully Declining | $257,500 to $528,000p. 103 | Not listed |
| Cottage | 1,535 to 1,680 | Fully Declining | $324,000 to $496,500p. 103 | Not listed |
| Studio | 425 | Fully Declining | $70,500 to $88,500p. 103 | Not listed |
| One Bedroom-One Bath | 660 | Fully Declining | $80,000 to $133,000p. 103 | Not listed |
| One Bedroom-Bay | 700 | Fully Declining | $96,500 to $141,500p. 103 | Not listed |
| One Bedroom Grand | 803 | Fully Declining | $144,500 to $160,000p. 103 | Not listed |
| One Bedroom/Living/Dining | 965 | Fully Declining | $169,500 to $193,000p. 103 | Not listed |
| Two Bedroom/Den/Two Baths | 965 | Fully Declining | $141,500 to $186,500p. 103 | Not listed |
| Two Bedroom/Bay | 1,000 | Fully Declining | $150,500 to $195,500p. 103 | Not listed |
| Two Bedroom/Two Baths | 1,075 | Fully Declining | $172,000 to $205,500p. 103 | Not listed |
| Two Bedroom Deluxe | 1,107 | Fully Declining | $202,500p. 103 | Not listed |
| Two Bedroom Contemporary | 1,158 | Fully Declining | $195,500 to $229,000p. 103 | Not listed |
| Two Bedroom/Study | 1,256 | Fully Declining | $211,000 to $242,000p. 103 | Not listed |
50% Refundable Residential Living Unit Residency Agreement · Type C (fee for service) (13 prices, $105,000 to $792,750)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Villa Homes | 1,350 to 1,680 | Minimum 50% Refundable | $386,250 to $792,750p. 103 | Not listed |
| Cottage | 1,535 to 1,680 | Minimum 50% Refundable | $486,000 to $744,750p. 103 | Not listed |
| Studio | 425 | Minimum 50% Refundable | $105,000 to $132,750p. 103 | Not listed |
| One Bedroom-One Bath | 660 | Minimum 50% Refundable | $120,000 to $199,500p. 103 | Not listed |
| One Bedroom-Bay | 700 | Minimum 50% Refundable | $144,750 to $212,250p. 103 | Not listed |
| One Bedroom Grand | 803 | Minimum 50% Refundable | $216,750 to $240,000p. 103 | Not listed |
| One Bedroom/Living/Dining | 965 | Minimum 50% Refundable | $254,250 to $289,500p. 103 | Not listed |
| Two Bedroom/Den/Two Baths | 965 | Minimum 50% Refundable | $212,250 to $279,750p. 103 | Not listed |
| Two Bedroom/Bay | 1,000 | Minimum 50% Refundable | $225,750 to $293,250p. 103 | Not listed |
| Two Bedroom/Two Baths | 1,075 | Minimum 50% Refundable | $258,000 to $308,250p. 103 | Not listed |
| Two Bedroom Deluxe | 1,107 | Minimum 50% Refundable | $303,750p. 103 | Not listed |
| Two Bedroom Contemporary | 1,158 | Minimum 50% Refundable | $293,250 to $343,500p. 103 | Not listed |
| Two Bedroom/Study | 1,256 | Minimum 50% Refundable | $316,500 to $363,000p. 103 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residency Agreement (both refund options) · Type C (fee for service) (13 prices, $1,692 to $3,137)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Villa Homes | Independent living | $2,417p. 103 | $886 |
| Cottage | Independent living | $2,807p. 103 | $886 |
| Studio | Independent living | $1,692p. 103 | $1,015 |
| One Bedroom-One Bath | Independent living | $2,737p. 103 | $1,015 |
| One Bedroom-Bay | Independent living | $2,737p. 103 | $1,015 |
| One Bedroom Grand | Independent living | $2,857p. 103 | $1,015 |
| One Bedroom/Living/Dining | Independent living | $2,857p. 103 | $1,015 |
| Two Bedroom/Den/Two Baths | Independent living | $3,012p. 103 | $1,015 |
| Two Bedroom/Bay | Independent living | $3,017p. 103 | $1,015 |
| Two Bedroom/Two Baths | Independent living | $3,017p. 103 | $1,015 |
| Two Bedroom Deluxe | Independent living | $3,017p. 103 | $1,015 |
| Two Bedroom Contemporary | Independent living | $3,137p. 103 | $1,015 |
| Two Bedroom/Study | Independent living | $3,137p. 103 | $1,015 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | One Bedroom/One Bath | 4.19%calculated from the dollar amounts | $2,627 to $2,737p. 94 |
| 2026 | Independent living | Villa Homes | 4.5%calculated from the dollar amounts | $2,313 to $2,417p. 94 |
| 2026 | Independent living | Cottage | 4.5%calculated from the dollar amounts | $2,686 to $2,807p. 94 |
| 2026 | Nursing care | Private (daily rate) | 4%calculated from the dollar amounts | $350 to $364p. 104 |
| 2026 | Assisted living | Assisted Living Studio (daily rate) | 4.12%calculated from the dollar amounts | $194 to $202p. 104 |
| 2026 | Memory care | Memory Care Studio (daily rate) | 4.1%calculated from the dollar amounts | $268 to $279p. 104 |
| 2025 | Independent living | One Bedroom/One Bath | 4.2%calculated from the dollar amounts | $2,521 to $2,627p. 94 |
| 2025 | Independent living | Villa Homes | 4%calculated from the dollar amounts | $2,224 to $2,313p. 94 |
| 2025 | Independent living | Cottage | 3.99%calculated from the dollar amounts | $2,583 to $2,686p. 94 |
| 2025 | Nursing care | Private (daily rate) | 3.86%calculated from the dollar amounts | $337 to $350p. 104 |
| 2025 | Assisted living | Assisted Living Studio (daily rate) | 3.74%calculated from the dollar amounts | $187 to $194p. 104 |
| 2025 | Memory care | Memory Care Studio (daily rate) | 3.88%calculated from the dollar amounts | $258 to $268p. 104 |
| 2024 | Independent living | One Bedroom/One Bath | 4.74%calculated from the dollar amounts | $2,407 to $2,521p. 94 |
| 2024 | Independent living | Villa Homes | 4.51%calculated from the dollar amounts | $2,128 to $2,224p. 94 |
| 2024 | Independent living | Cottage | 4.49%calculated from the dollar amounts | $2,472 to $2,583p. 94 |
| 2024 | Nursing care | Private (daily rate) | 4.01%calculated from the dollar amounts | $324 to $337p. 104 |
| 2024 | Assisted living | Assisted Living Studio (daily rate) | 3.89%calculated from the dollar amounts | $180 to $187p. 104 |
| 2024 | Memory care | Memory Care Studio (daily rate) | 4.03%calculated from the dollar amounts | $248 to $258p. 104 |
| 2023 | Independent living | One Bedroom/One Bath | 6.32%calculated from the dollar amounts | $2,264 to $2,407p. 94 |
| 2023 | Independent living | Villa Homes | 5.98%calculated from the dollar amounts | $2,008 to $2,128p. 94 |
| 2023 | Independent living | Cottage | 6%calculated from the dollar amounts | $2,332 to $2,472p. 94 |
| 2023 | Nursing care | Private (daily rate) | 5.88%calculated from the dollar amounts | $306 to $324p. 104 |
| 2023 | Assisted living | Assisted Living Studio (daily rate) | 4.05%calculated from the dollar amounts | $173 to $180p. 104 |
| 2023 | Memory care | Memory Care Studio (daily rate) | 4.2%calculated from the dollar amounts | $238 to $248p. 104 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Fully Decliningp. 23
90% of the residency fee is refundable for the first 90 days; from day 91 the refundable amount falls by 2.73% of the original fee each month and reaches zero after month 36. A refund is paid only after a new Residency Agreement has been signed for the unit; if the resident moves permanently to assisted living or nursing, amortization stops and the refund is set aside for the resident's healthcare costs.
- Kept on move-in
- 10% of the fee
- Declines by
- 2.73% a month for 36 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
Minimum 50% Refundablep. 37
90% of the residency fee is refundable for the first 90 days; from day 91 the refundable amount falls by 1.212% of the original fee each month until month 36, then stays at 50%. A refund is paid only after a new Residency Agreement has been signed for the unit; on a permanent move to assisted living or nursing the refund is set aside for healthcare costs.
- Kept on move-in
- 10% of the fee
- Declines by
- 1.212% a month for 36 months
- Never less than
- 50% of the fee
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
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.
- Lake Prince Woods is part of EveryAge Obligated Group (all EveryAge divisions except the Foundation, EA Holding and Carolina SeniorCare).
- Balance sheet: Lake Prince Center, Inc. (including Lake Prince At Home, LLC), column of the EveryAge combining statements.
- Ratios: EveryAge Obligated Group.
Days cash on hand
340 days FY2025p. 86
- Its lenders’ minimum: 200 daysp. 101
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
3.84x FY2025p. 86
- Its lenders’ minimum: 1.20xp. 101
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresDays cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86).
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. 86 | FY2024p. 101 |
|---|---|---|
| Days cash on hand | 340 days | Not disclosed |
| Debt service coverage | 3.84x | Not disclosed |
| Operating margin | -7.7% | -4.5% |
| Total assets | $37.0 million | $36.2 million |
| Total liabilities | $56.1 million | $55.2 million |
| Long-term debt | $24.3 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $25.3 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $2.0 million | Not disclosed |
| Net position (assets minus liabilities) | −$19.1 million | −$18.9 million |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 86
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2024-09Credit rating Fitch rating BBB- with negative outlook, affirmed 09/06/2024.p. 101
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
- 3 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 3. LAKE PRINCE WOODS, INC on Care Compare
In brief
Lake Prince Woods in Suffolk, Virginia is a fee-for-service continuing care community operated by Lake Prince Center, Inc., a subsidiary of EveryAge affiliated with the Southern Conference of the United Church of Christ, with 192 residential living units, 52 assisted living and memory care units and 40 nursing beds. Residency fees for contracts signed after October 1, 2025 range from $70,500 (fully declining) to $792,750 (50% refundable), with assisted living and nursing billed per day. Lake Prince Center reported negative net assets of $19.1 million at September 30, 2025, while the EveryAge obligated group reported 340 days cash on hand and 3.84x debt service coverage against covenants of 200 days and 1.20x.PDF
Nearest communities in Virginia
- Harbor's Edge
Norfolk · 18 miles away
Entrance fee: $283,079 to $2,164,084
- The Chesapeake
Newport News · 23 miles away
Entrance fee: $149,000 to $855,000
- Warwick Forest
Newport News · 26 miles away
Entrance fee: $148,328 to $377,659
Sources
- Lake Prince Woods — Disclosure Statement (March 2026)Virginia State Corporation Commission, Bureau of Insurance · filed 2026, fiscal 2025 finances · 111 pages · retrieved 2026-10-15
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