Lakewood
1900 Lauderdale Drive, Richmond, Virginia 23238
- Operator:
- Virginia Baptist Homes, Inc. dba LifeSpire of Virginia
- Ownership:
- Nonprofit
- Affiliation:
- Baptist (Baptist General Association of Virginia)
- Opened:
- 1977
- Type A (life care)
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF
At a glance
Refund plans offered
- StandardCan decline to nothing
- 90% RefundableNever less than 90% of the fee
Days cash on hand
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 A (life care): Moving to assisted living or nursing leaves your monthly fee essentially unchanged.
- 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 A (life care)
Life-Care residents keep paying their independent-living monthly fee, plus two meals a day, in assisted living or the Health Care Center; the couples rate still applies when one or both are in care. Residents get priority admittance when the Health Care Center is full.p. 16
- Assisted living
- Same monthly fee as the residence previously occupied, plus the cost of two additional meals a day
- Nursing care
- Same monthly fee as the residence previously occupied, plus the cost of two additional meals a day
- Priority for a bed
- Yes, residents come before outside admissions
Type B (modified)The filing calls it Fee for Service; we class contracts by how care is priced (our definitions).
Fee for Service residents pay the published daily rate for assisted living, memory support and nursing, less 10%. Residents transferred out for lack of space get priority admittance when a bed becomes available.p. 46
- Assisted living
- Discounted Daily Rate (daily rate less 10%); 2026 daily rates $293-$336 assisted living, $336-$379 memory support
- Nursing care
- Discounted Daily Rate (daily rate less 10%); 2026 Health Care daily rate $446
- Discount on care
- 10%
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 337 |
|---|---|
| Assisted living | 41 |
| Memory care | 20 |
| Nursing care | 95 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Fee for Service · Type B (modified) (58 prices, $78,000 to $1,128,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Ashton Apt. | Standard | $78,000p. 14 | $41,000 |
| Ashton Apt. | 90% Refundable | $152,000p. 14 | $80,000 |
| Berkley Apt. | Standard | $80,000p. 14 | $41,000 |
| Berkley Apt. | 90% Refundable | $156,000p. 14 | $80,000 |
| Carlisle Apt. | Standard | $98,000p. 14 | $41,000 |
| Carlisle Apt. | 90% Refundable | $192,000p. 14 | $80,000 |
| Davidson Apt. | Standard | $142,000p. 14 | $41,000 |
| Davidson Apt. | 90% Refundable | $276,000p. 14 | $80,000 |
| Davenport Apt. | Standard | $147,000p. 14 | $41,000 |
| Davenport Apt. | 90% Refundable | $285,000p. 14 | $80,000 |
| Easton Apt. | Standard | $159,000p. 14 | $41,000 |
| Easton Apt. | 90% Refundable | $309,000p. 14 | $80,000 |
| Fairchild Apt. | Standard | $181,000p. 14 | $41,000 |
| Fairchild Apt. | 90% Refundable | $353,000p. 14 | $80,000 |
| Gathright | Standard | $247,000p. 14 | $41,000 |
| Gathright | 90% Refundable | $480,000p. 14 | $80,000 |
| Tuckahoe Villa | Standard | $433,000p. 14 | $41,000 |
| Tuckahoe Villa | 90% Refundable | $845,000p. 14 | $80,000 |
| Copperas Villa | Standard | $471,000p. 14 | $41,000 |
| Copperas Villa | 90% Refundable | $919,000p. 14 | $80,000 |
| Timbercrest Villa | Standard | $532,000p. 14 | $41,000 |
| Timbercrest Villa | 90% Refundable | $1,038,000p. 14 | $80,000 |
| Lancaster Cottage | Standard | $423,000p. 14 | $41,000 |
| Lancaster Cottage | 90% Refundable | $825,000p. 14 | $80,000 |
| Jamestown I Cottage | Standard | $463,000p. 14 | $41,000 |
| Jamestown I Cottage | 90% Refundable | $903,000p. 14 | $80,000 |
| Jamestown II Cottage | Standard | $493,000p. 14 | $41,000 |
| Jamestown II Cottage | 90% Refundable | $962,000p. 14 | $80,000 |
| Kilmarnock II Cottage | Standard | $512,000p. 14 | $41,000 |
| Kilmarnock II Cottage | 90% Refundable | $999,000p. 14 | $80,000 |
| Irvington Cottage | Standard | $526,000p. 14 | $41,000 |
| Irvington Cottage | 90% Refundable | $1,026,000p. 14 | $80,000 |
| Birch Hybrid | Standard | $534,000p. 14 | $41,000 |
| Birch Hybrid | 90% Refundable | $1,042,000p. 14 | $80,000 |
| Eagle 1& 2 Clubhouse | Standard | $279,000p. 14 | $41,000 |
| Eagle 1& 2 Clubhouse | 90% Refundable | $543,000p. 14 | $80,000 |
| Heron Clubhouse | Standard | $401,000p. 14 | $41,000 |
| Heron Clubhouse | 90% Refundable | $782,000p. 14 | $80,000 |
| Mallard Clubhouse | Standard | $399,000p. 14 | $41,000 |
| Mallard Clubhouse | 90% Refundable | $778,000p. 14 | $80,000 |
| Maple Hybrid | Standard | $454,000p. 14 | $41,000 |
| Maple Hybrid | 90% Refundable | $884,000p. 14 | $80,000 |
| Oak Hybrid | Standard | $547,000p. 14 | $41,000 |
| Oak Hybrid | 90% Refundable | $1,068,000p. 14 | $80,000 |
| Osprey Clubhouse | Standard | $438,000p. 14 | $41,000 |
| Osprey Clubhouse | 90% Refundable | $854,000p. 14 | $80,000 |
| Pelican Clubhouse | Standard | $394,000p. 14 | $41,000 |
| Pelican Clubhouse | 90% Refundable | $768,000p. 14 | $80,000 |
| Pine Hybrid | Standard | $359,000p. 15 | $41,000 |
| Pine Hybrid | 90% Refundable | $700,000p. 15 | $80,000 |
| Tern Clubhouse | Standard | $455,000p. 15 | $41,000 |
| Tern Clubhouse | 90% Refundable | $886,000p. 15 | $80,000 |
| Amherst | Standard | $464,000p. 15 | $41,000 |
| Amherst | 90% Refundable | $905,000p. 15 | $80,000 |
| Keswick | Standard | $521,000p. 15 | $41,000 |
| Keswick | 90% Refundable | $1,016,000p. 15 | $80,000 |
| Winchester | Standard | $578,000p. 15 | $41,000 |
| Winchester | 90% Refundable | $1,128,000p. 15 | $80,000 |
Life-Care · Type A (life care) (58 prices, $141,000 to $1,410,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Ashton Apt. | Standard | $141,000p. 15 | $91,000 |
| Ashton Apt. | 90% Refundable | $273,000p. 15 | $178,000 |
| Berkley Apt. | Standard | $145,000p. 15 | $91,000 |
| Berkley Apt. | 90% Refundable | $282,000p. 15 | $178,000 |
| Carlisle Apt. | Standard | $171,000p. 15 | $91,000 |
| Carlisle Apt. | 90% Refundable | $334,000p. 15 | $178,000 |
| Davidson Apt. | Standard | $215,000p. 15 | $91,000 |
| Davidson Apt. | 90% Refundable | $417,000p. 15 | $178,000 |
| Davenport Apt. | Standard | $226,000p. 15 | $91,000 |
| Davenport Apt. | 90% Refundable | $440,000p. 15 | $178,000 |
| Easton Apt. | Standard | $233,000p. 15 | $91,000 |
| Easton Apt. | 90% Refundable | $454,000p. 15 | $178,000 |
| Fairchild Apt. | Standard | $242,000p. 15 | $91,000 |
| Fairchild Apt. | 90% Refundable | $470,000p. 15 | $178,000 |
| Gathright Apt. | Standard | $342,000p. 15 | $91,000 |
| Gathright Apt. | 90% Refundable | $667,000p. 15 | $178,000 |
| Tuckahoe Villa | Standard | $558,000p. 15 | $91,000 |
| Tuckahoe Villa | 90% Refundable | $1,089,000p. 15 | $178,000 |
| Copperas Villa | Standard | $602,000p. 15 | $91,000 |
| Copperas Villa | 90% Refundable | $1,174,000p. 15 | $178,000 |
| Timbercrest Villa | Standard | $683,000p. 15 | $91,000 |
| Timbercrest Villa | 90% Refundable | $1,132,000p. 15 | $178,000 |
| Lancaster Cottage | Standard | $590,000p. 15 | $91,000 |
| Lancaster Cottage | 90% Refundable | $1,151,000p. 15 | $178,000 |
| Jamestown I Cottage | Standard | $638,000p. 15 | $91,000 |
| Jamestown I Cottage | 90% Refundable | $1,245,000p. 15 | $178,000 |
| Jamestown II Cottage | Standard | $678,000p. 15 | $91,000 |
| Jamestown II Cottage | 90% Refundable | $1,323,000p. 15 | $178,000 |
| Kilmarnock II Cottage | Standard | $705,000p. 15 | $91,000 |
| Kilmarnock II Cottage | 90% Refundable | $1,375,000p. 15 | $178,000 |
| Irvington Cottage | Standard | $723,000p. 15 | $91,000 |
| Irvington Cottage | 90% Refundable | $1,410,000p. 15 | $178,000 |
| Birch Hybrid | Standard | $676,000p. 16 | $91,000 |
| Birch Hybrid | 90% Refundable | $1,319,000p. 16 | $178,000 |
| Eagle 1 & 2 Clubhouse | Standard | $390,000p. 16 | $91,000 |
| Eagle 1 & 2 Clubhouse | 90% Refundable | $761,000p. 16 | $178,000 |
| Heron Clubhouse | Standard | $529,000p. 16 | $91,000 |
| Heron Clubhouse | 90% Refundable | $1,032,000p. 16 | $178,000 |
| Mallard Clubhouse | Standard | $527,000p. 16 | $91,000 |
| Mallard Clubhouse | 90% Refundable | $1,027,000p. 16 | $178,000 |
| Maple Hybrid | Standard | $587,000p. 16 | $91,000 |
| Maple Hybrid | 90% Refundable | $1,144,000p. 16 | $178,000 |
| Oak Hybrid | Standard | $695,000p. 16 | $91,000 |
| Oak Hybrid | 90% Refundable | $1,355,000p. 16 | $178,000 |
| Osprey Clubhouse | Standard | $568,000p. 16 | $91,000 |
| Osprey Clubhouse | 90% Refundable | $1,108,000p. 16 | $178,000 |
| Pelican Clubhouse | Standard | $519,000p. 16 | $91,000 |
| Pelican Clubhouse | 90% Refundable | $1,011,000p. 16 | $178,000 |
| Pine Hybrid | Standard | $482,000p. 16 | $91,000 |
| Pine Hybrid | 90% Refundable | $939,000p. 16 | $178,000 |
| Tern Clubhouse | Standard | $591,000p. 16 | $91,000 |
| Tern Clubhouse | 90% Refundable | $1,152,000p. 16 | $178,000 |
| Amherst Cottages | Standard | $579,000p. 16 | $91,000 |
| Amherst Cottages | 90% Refundable | $1,130,000p. 16 | $178,000 |
| Keswick Cottages | Standard | $650,000p. 16 | $91,000 |
| Keswick Cottages | 90% Refundable | $1,268,000p. 16 | $178,000 |
| Winchester Cottages | Standard | $722,000p. 16 | $91,000 |
| Winchester Cottages | 90% Refundable | $1,408,000p. 16 | $178,000 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Fee for Service · Type B (modified) (29 prices, $3,091 to $6,566)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Ashton Apt. | Independent living | $3,091p. 14 | $1,547 |
| Berkley Apt. | Independent living | $3,091p. 14 | $1,547 |
| Carlisle Apt. | Independent living | $3,801p. 14 | $1,547 |
| Davidson Apt. | Independent living | $4,029p. 14 | $1,547 |
| Davenport Apt. | Independent living | $4,148p. 14 | $1,547 |
| Easton Apt. | Independent living | $4,255p. 14 | $1,547 |
| Fairchild Apt. | Independent living | $4,332p. 14 | $1,547 |
| Gathright | Independent living | $4,404p. 14 | $1,547 |
| Tuckahoe Villa | Independent living | $4,632p. 14 | $1,547 |
| Copperas Villa | Independent living | $5,118p. 14 | $1,547 |
| Timbercrest Villa | Independent living | $5,283p. 14 | $1,547 |
| Lancaster Cottage | Independent living | $5,283p. 14 | $1,547 |
| Jamestown I Cottage | Independent living | $5,889p. 14 | $1,547 |
| Jamestown II Cottage | Independent living | $6,129p. 14 | $1,547 |
| Kilmarnock II Cottage | Independent living | $6,429p. 14 | $1,547 |
| Irvington Cottage | Independent living | $6,566p. 14 | $1,547 |
| Birch Hybrid | Independent living | $6,409p. 14 | $1,547 |
| Eagle 1& 2 Clubhouse | Independent living | $4,708p. 14 | $1,547 |
| Heron Clubhouse | Independent living | $6,081p. 14 | $1,547 |
| Mallard Clubhouse | Independent living | $6,081p. 14 | $1,547 |
| Maple Hybrid | Independent living | $5,689p. 14 | $1,547 |
| Oak Hybrid | Independent living | $6,475p. 14 | $1,547 |
| Osprey Clubhouse | Independent living | $6,344p. 14 | $1,547 |
| Pelican Clubhouse | Independent living | $5,886p. 14 | $1,547 |
| Pine Hybrid | Independent living | $4,840p. 15 | $1,547 |
| Tern Clubhouse | Independent living | $6,409p. 15 | $1,547 |
| Amherst | Independent living | $4,716p. 15 | $1,547 |
| Keswick | Independent living | $5,303p. 15 | $1,547 |
| Winchester | Independent living | $5,883p. 15 | $1,547 |
Life-Care · Type A (life care) (29 prices, $3,497 to $9,349)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Ashton Apt. | Independent living | $3,497p. 15 | $2,231 |
| Berkley Apt. | Independent living | $3,497p. 15 | $2,231 |
| Carlisle Apt. | Independent living | $4,404p. 15 | $2,231 |
| Davidson Apt. | Independent living | $5,283p. 15 | $2,231 |
| Davenport Apt. | Independent living | $5,265p. 15 | $2,231 |
| Easton Apt. | Independent living | $5,723p. 15 | $2,231 |
| Fairchild Apt. | Independent living | $5,797p. 15 | $2,231 |
| Gathright Apt. | Independent living | $6,158p. 15 | $2,231 |
| Tuckahoe Villa | Independent living | $6,584p. 15 | $2,231 |
| Copperas Villa | Independent living | $7,295p. 15 | $2,231 |
| Timbercrest Villa | Independent living | $7,551p. 15 | $2,231 |
| Lancaster Cottage | Independent living | $7,551p. 15 | $2,231 |
| Jamestown I Cottage | Independent living | $8,365p. 15 | $2,231 |
| Jamestown II Cottage | Independent living | $8,745p. 15 | $2,231 |
| Kilmarnock II Cottage | Independent living | $9,168p. 15 | $2,231 |
| Irvington Cottage | Independent living | $9,349p. 15 | $2,231 |
| Birch Hybrid | Independent living | $6,475p. 16 | $2,231 |
| Eagle 1 & 2 Clubhouse | Independent living | $4,773p. 16 | $2,231 |
| Heron Clubhouse | Independent living | $6,148p. 16 | $2,231 |
| Mallard Clubhouse | Independent living | $6,148p. 16 | $2,231 |
| Maple Hybrid | Independent living | $5,755p. 16 | $2,231 |
| Oak Hybrid | Independent living | $6,539p. 16 | $2,231 |
| Osprey Clubhouse | Independent living | $6,409p. 16 | $2,231 |
| Pelican Clubhouse | Independent living | $5,951p. 16 | $2,231 |
| Pine Hybrid | Independent living | $4,903p. 16 | $2,231 |
| Tern Clubhouse | Independent living | $6,475p. 16 | $2,231 |
| Amherst Cottages | Independent living | $5,894p. 16 | $2,231 |
| Keswick Cottages | Independent living | $6,627p. 16 | $2,231 |
| Winchester Cottages | Independent living | $7,352p. 16 | $2,231 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 3.75% | Percent onlyp. 17 |
| 2026 | Assisted living | All units | 4.75% | Percent onlyp. 17 |
| 2026 | Memory care | All units | 4.75% | Percent onlyp. 17 |
| 2026 | Nursing care | All units | 4.75% | Percent onlyp. 17 |
| 2025 | Independent living | All units | 3.95% | Percent onlyp. 17 |
| 2025 | Assisted living | All units | 3.95% | Percent onlyp. 17 |
| 2025 | Memory care | All units | 3.95% | Percent onlyp. 17 |
| 2025 | Nursing care | All units | 3.95% | Percent onlyp. 17 |
| 2024 | Independent living | All units | 4.45% | Percent onlyp. 17 |
| 2024 | Assisted living | All units | 5.45% | Percent onlyp. 17 |
| 2024 | Memory care | All units | 5.45% | Percent onlyp. 17 |
| 2024 | Nursing care | All units | 5.45% | Percent onlyp. 17 |
| 2023 | Independent living | All units | 8% | Percent onlyp. 17 |
| 2023 | Assisted living | All units | 8.5% | Percent onlyp. 17 |
| 2023 | Memory care | All units | 8.5% | Percent onlyp. 17 |
| 2023 | Nursing care | All units | 10% | Percent onlyp. 17 |
| 2022 | Independent living | All units | 5% | Percent onlyp. 17 |
| 2022 | Assisted living | All units | 5% | Percent onlyp. 17 |
| 2022 | Memory care | All units | 5% | Percent onlyp. 17 |
| 2022 | Nursing care | All units | 5% | Percent onlyp. 17 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standardp. 60
A 4% administrative charge is kept; the rest amortizes at 2% a month and nothing is refundable after 50 months. Any refund is paid only after your residence is sold to a new resident who has paid their entrance fee.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 50 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
90% Refundablep. 61
A 4% administrative charge is kept; the rest amortizes 1% a month for 10 months, leaving at least 90% of the fee net of the charge. The refund is paid only after your residence is sold to a new resident who has paid their entrance fee.
- Kept on move-in
- 4% of the fee
- Declines by
- 1% a month for 10 months
- Never less than
- 90% 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.
- Lakewood is part of LifeSpire of Virginia Obligated Group (LifeSpire, The Culpeper, Lakewood, The Chesapeake, The Glebe, The Summit).
- Balance sheet: Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated).
- Ratios: LifeSpire of Virginia Obligated Group.
- Ratios are interim figures, unaudited.
Days cash on hand
266 days FY2025p. 98
- Its lenders’ minimum: 120 daysp. 24
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
2.31x FY2025p. 98
- Its lenders’ minimum: 1.20xp. 24
- 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 | FY2025p. 98 | FY2024p. 98 |
|---|---|---|
| Days cash on hand | 266 days | Not disclosed |
| Debt service coverage | 2.31x | Not disclosed |
| Total assets | $561.3 million | $548.6 million |
| Total liabilities | $569.2 million | $576.6 million |
| Long-term debt | $329.7 million | $356.0 million |
| Entrance fees not yet earned (deferred revenue) | $154.4 million | $120.5 million |
| Refunds owed to residents (refundable fee liability) | $56.7 million | $68.3 million |
| Net position (assets minus liabilities) | −$7.9 million | −$28.0 million |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 98
Occupancy
| Level of care | 2025p. 23 |
|---|---|
| Independent living | 95.8% |
| Assisted living | 95.1% |
| Memory care | 90% |
| Nursing care | 90.5% |
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025Credit rating Fitch reaffirmed LifeSpire's BBB rating with a stable outlook.p. 20
- 2024-10 The Obligated Group issued a $168,825,000 note (Series 2024A and Entrance Fee Principal Redemption Series 2024B-1/B-2) to refund the Series 2014A bonds and 2021 Taxable Loan and fund expansions at The Glebe and The Summit.p. 18
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
- 3 of 5
- Health inspections
- 3 of 5
- Staffing
- 4 of 5
- Quality measures
- 4 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 0. LAKEWOOD MANOR on Care Compare
In brief
Lakewood is a LifeSpire of Virginia community on 128 acres in Henrico County, opened in 1977, with 337 independent living units, 41 assisted living, 20 memory support and 95 Health Care Center units. It offers a Life-Care contract and a Fee for Service contract (care at the daily rate less 10%), each with a Standard or 90% Refundable entrance fee; 2026 entrance fees run from $78,000 to $1,410,000 depending on contract, plan and residence. LifeSpire and its subsidiaries, reported together, ended 2025 with a net deficit of $7.9 million; the LifeSpire Obligated Group reported 266 days cash on hand against a 120-day covenant.PDF
Nearest communities in Virginia
- Cedarfield
Richmond · 3 miles away
Entrance fee: $183,600 to $908,300
- Westminster Canterbury Richmond
Richmond · 10 miles away
Entrance fee: $135,485 to $1,074,558
- Brandermill Woods
Midlothian · 10 miles away
Entrance fee: $57,096
Sources
- Lakewood — 2026 Disclosure StatementVirginia State Corporation Commission, Bureau of Insurance · filed 2026, fiscal 2025 finances · 147 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.