Park Village (VMRC)
1501 Virginia Avenue, Harrisonburg, Virginia 22802
- Operator:
- Virginia Mennonite Retirement Community, Inc. (manager of Park Village, Inc.)
- Ownership:
- Nonprofit
- Affiliation:
- Mennonite: historical relationship with the Virginia Mennonite Conference of Mennonite Church USA, which has no legal responsibility for PVI's or VMRC's obligations (p6).
- Opened:
- Not disclosed in the 2025 filing
Park Village, Inc. (501(c)(3)) owns the three independent living buildings (Park Village cottages, Park Place, Park Gables) and is managed by VMRC under a management contract; VMRC appoints PVI's directors. Assisted living (Crestwood) and nursing (Oak Lea / Woodland Park) are owned by Virginia Mennonite Home, Inc. (p2, p5-6).
- Type C (fee for service)
Figures from the 2025 disclosure statement (fiscal 2025 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF
At a glance
Refund plans offered
- Option 1Terms not disclosed in the 2025 filing
- Option 2Terms not disclosed in the 2025 filing
- Option 3Terms not disclosed in the 2025 filing
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 C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type C (fee for service)
No care is included and the Residency Agreement promises only priority (not guaranteed) admission to VMRC assisted living and nursing. Transfers pay a per diem rate for Park residents that the fee sheets call discounted, but no amount or discount is stated. The residency fee can be credited toward assisted living or nursing fees only after all other assets are exhausted.p. 22
- Assisted living
- Per diem transfer rate for Park residents in effect at the time of occupancy; amount not stated in the filing
- Nursing care
- Per diem transfer rate for Park residents in effect at the time of occupancy; amount not stated in the filing
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 266 |
|---|---|
| Assisted living | 82 |
| Memory care | Not disclosed in the 2025 filing |
| Nursing care | 120 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Park Programs Residency Agreement · Type C (fee for service) (81 prices, $122,709 to $1,127,549)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Park Gables Plan A — 1 Bedroom/1 Bath | 678 | Option 1 | from $364,446p. 69 | Not listed |
| Park Gables Plan A — 1 Bedroom/1 Bath | 678 | Option 2 | from $227,779p. 69 | Not listed |
| Park Gables Plan A — 1 Bedroom/1 Bath | 678 | Option 3 | from $170,834p. 69 | Not listed |
| Park Gables Plan A1 — 1 Bedroom/1 Bath/Den | 884 | Option 1 | from $452,685p. 69 | Not listed |
| Park Gables Plan A1 — 1 Bedroom/1 Bath/Den | 884 | Option 2 | from $282,928p. 69 | Not listed |
| Park Gables Plan A1 — 1 Bedroom/1 Bath/Den | 884 | Option 3 | from $212,196p. 69 | Not listed |
| Park Gables Plan B — 1 Bedroom/1 Bath | 731 | Option 1 | from $388,248p. 69 | Not listed |
| Park Gables Plan B — 1 Bedroom/1 Bath | 731 | Option 2 | from $242,655p. 69 | Not listed |
| Park Gables Plan B — 1 Bedroom/1 Bath | 731 | Option 3 | from $181,991p. 69 | Not listed |
| Park Gables Plan B1 — 1 Bedroom/1 Bath | 743 | Option 1 | from $398,539p. 69 | Not listed |
| Park Gables Plan B1 — 1 Bedroom/1 Bath | 743 | Option 2 | from $249,087p. 69 | Not listed |
| Park Gables Plan B1 — 1 Bedroom/1 Bath | 743 | Option 3 | from $186,815p. 69 | Not listed |
| Park Gables Plan C — 2 Bedroom/1 Bath | 837 | Option 1 | from $453,002p. 69 | Not listed |
| Park Gables Plan C — 2 Bedroom/1 Bath | 837 | Option 2 | from $283,126p. 69 | Not listed |
| Park Gables Plan C — 2 Bedroom/1 Bath | 837 | Option 3 | from $212,345p. 69 | Not listed |
| Park Gables Plan D — 2 Bedroom/1 Bath | 926 | Option 1 | from $493,896p. 69 | Not listed |
| Park Gables Plan D — 2 Bedroom/1 Bath | 926 | Option 2 | from $308,685p. 69 | Not listed |
| Park Gables Plan D — 2 Bedroom/1 Bath | 926 | Option 3 | from $231,514p. 69 | Not listed |
| Park Gables Plan D1 — 2 Bedroom/1 1/2 Bath | 926 | Option 1 | from $501,403p. 69 | Not listed |
| Park Gables Plan D1 — 2 Bedroom/1 1/2 Bath | 926 | Option 2 | from $313,377p. 69 | Not listed |
| Park Gables Plan D1 — 2 Bedroom/1 1/2 Bath | 926 | Option 3 | from $235,033p. 69 | Not listed |
| Park Gables Plan E — 2 Bedroom/2 Bath | 1,009 | Option 1 | from $596,816p. 69 | Not listed |
| Park Gables Plan E — 2 Bedroom/2 Bath | 1,009 | Option 2 | from $373,010p. 69 | Not listed |
| Park Gables Plan E — 2 Bedroom/2 Bath | 1,009 | Option 3 | from $279,758p. 69 | Not listed |
| Park Gables Plan F — 2 Bedroom/2 Bath | 1,082 | Option 1 | from $627,146p. 69 | Not listed |
| Park Gables Plan F — 2 Bedroom/2 Bath | 1,082 | Option 2 | from $391,966p. 69 | Not listed |
| Park Gables Plan F — 2 Bedroom/2 Bath | 1,082 | Option 3 | from $293,975p. 69 | Not listed |
| Park Gables Plan G — 2 Bedroom/2 Bath/Den | 1,193 | Option 1 | from $680,739p. 69 | Not listed |
| Park Gables Plan G — 2 Bedroom/2 Bath/Den | 1,193 | Option 2 | from $425,462p. 69 | Not listed |
| Park Gables Plan G — 2 Bedroom/2 Bath/Den | 1,193 | Option 3 | from $319,097p. 69 | Not listed |
| Park Gables Plan H — 2 Bedroom/2 Bath/Den | 1,167 | Option 1 | from $673,882p. 69 | Not listed |
| Park Gables Plan H — 2 Bedroom/2 Bath/Den | 1,167 | Option 2 | from $421,176p. 69 | Not listed |
| Park Gables Plan H — 2 Bedroom/2 Bath/Den | 1,167 | Option 3 | from $315,882p. 69 | Not listed |
| Park Gables Plan J — 2 Bedroom/2 Bath/Den | 1,312 | Option 1 | from $741,626p. 69 | Not listed |
| Park Gables Plan J — 2 Bedroom/2 Bath/Den | 1,312 | Option 2 | from $463,516p. 69 | Not listed |
| Park Gables Plan J — 2 Bedroom/2 Bath/Den | 1,312 | Option 3 | from $347,637p. 69 | Not listed |
| Park Place Plan A — 1 Bedroom/1 Bath | 672 | Option 1 | from $261,779p. 71 | Not listed |
| Park Place Plan A — 1 Bedroom/1 Bath | 672 | Option 2 | from $163,612p. 71 | Not listed |
| Park Place Plan A — 1 Bedroom/1 Bath | 672 | Option 3 | from $122,709p. 71 | Not listed |
| Park Place Plan B — 1 Bedroom/1 Bath | 728 | Option 1 | from $281,310p. 71 | Not listed |
| Park Place Plan B — 1 Bedroom/1 Bath | 728 | Option 2 | from $175,819p. 71 | Not listed |
| Park Place Plan B — 1 Bedroom/1 Bath | 728 | Option 3 | from $131,864p. 71 | Not listed |
| Park Place Plan C — 2 Bedroom/1 Bath | 833 | Option 1 | from $341,766p. 71 | Not listed |
| Park Place Plan C — 2 Bedroom/1 Bath | 833 | Option 2 | from $213,604p. 71 | Not listed |
| Park Place Plan C — 2 Bedroom/1 Bath | 833 | Option 3 | from $160,203p. 71 | Not listed |
| Park Place Plan D — 2 Bedroom/1 Bath | 896 | Option 1 | from $369,424p. 71 | Not listed |
| Park Place Plan D — 2 Bedroom/1 Bath | 896 | Option 2 | from $230,890p. 71 | Not listed |
| Park Place Plan D — 2 Bedroom/1 Bath | 896 | Option 3 | from $173,168p. 71 | Not listed |
| Park Place Plan E — 1 Bedroom/1 Bath | 894 | Option 1 | from $328,763p. 71 | Not listed |
| Park Place Plan E — 1 Bedroom/1 Bath | 894 | Option 2 | from $205,477p. 71 | Not listed |
| Park Place Plan E — 1 Bedroom/1 Bath | 894 | Option 3 | from $154,108p. 71 | Not listed |
| Park Place Plan F — 2 Bedroom/2 Bath | 952 | Option 1 | from $412,269p. 71 | Not listed |
| Park Place Plan F — 2 Bedroom/2 Bath | 952 | Option 2 | from $257,668p. 71 | Not listed |
| Park Place Plan F — 2 Bedroom/2 Bath | 952 | Option 3 | from $193,251p. 71 | Not listed |
| Park Place Plan G — 2 Bedroom/2 Bath | 997 | Option 1 | from $426,534p. 71 | Not listed |
| Park Place Plan G — 2 Bedroom/2 Bath | 997 | Option 2 | from $266,584p. 71 | Not listed |
| Park Place Plan G — 2 Bedroom/2 Bath | 997 | Option 3 | from $199,938p. 71 | Not listed |
| Park Village cottage Plan A | 780 to 925 | Option 1 | $301,974 to $387,763p. 73 | Not listed |
| Park Village cottage Plan A | 780 to 925 | Option 2 | $188,734 to $242,352p. 73 | Not listed |
| Park Village cottage Plan A | 780 to 925 | Option 3 | $141,551 to $181,764p. 73 | Not listed |
| Park Village cottage Plan B | 934 to 995 | Option 1 | $383,762 to $423,427p. 73 | Not listed |
| Park Village cottage Plan B | 934 to 995 | Option 2 | $190,175 to $264,427p. 73 | Not listed |
| Park Village cottage Plan B | 934 to 995 | Option 3 | $179,888 to $198,482p. 73 | Not listed |
| Park Village cottage Plan C | 1,020 to 1,090 | Option 1 | $390,726 to $464,654p. 73 | Not listed |
| Park Village cottage Plan C | 1,020 to 1,090 | Option 2 | $244,202 to $290,409p. 73 | Not listed |
| Park Village cottage Plan C | 1,020 to 1,090 | Option 3 | $183,152 to $217,807p. 73 | Not listed |
| Park Village cottage Plan D | 1,100 to 1,340 | Option 1 | $457,021 to $527,014p. 73 | Not listed |
| Park Village cottage Plan D | 1,100 to 1,340 | Option 2 | $285,638 to $357,509p. 73 | Not listed |
| Park Village cottage Plan D | 1,100 to 1,340 | Option 3 | $214,229 to $268,132p. 73 | Not listed |
| Park Village cottage Plan E | 1,400 to 1,525 | Option 1 | $600,515 to $654,896p. 73 | Not listed |
| Park Village cottage Plan E | 1,400 to 1,525 | Option 2 | $375,322 to $409,310p. 73 | Not listed |
| Park Village cottage Plan E | 1,400 to 1,525 | Option 3 | $281,492 to $306,983p. 73 | Not listed |
| Park Village cottage Plan F | 1,600 to 1,800 | Option 1 | $684,115 to $796,171p. 73 | Not listed |
| Park Village cottage Plan F | 1,600 to 1,800 | Option 2 | $427,572 to $497,607p. 73 | Not listed |
| Park Village cottage Plan F | 1,600 to 1,800 | Option 3 | $320,679 to $373,679p. 73 | Not listed |
| Park Village cottage Plan G | 1,850 to 2,100 | Option 1 | $797,930 to $941,578p. 73 | Not listed |
| Park Village cottage Plan G | 1,850 to 2,100 | Option 2 | $498,706 to $588,486p. 73 | Not listed |
| Park Village cottage Plan G | 1,850 to 2,100 | Option 3 | $374,030 to $441,365p. 73 | Not listed |
| Park Village cottage Plan H | 2,150 to 2,400 | Option 1 | $899,942 to $1,127,549p. 73 | Not listed |
| Park Village cottage Plan H | 2,150 to 2,400 | Option 2 | $562,464 to $704,718p. 73 | Not listed |
| Park Village cottage Plan H | 2,150 to 2,400 | Option 3 | $421,848 to $528,539p. 73 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Park Programs Residency Agreement · Type C (fee for service) (27 prices, $1,728 to $3,684)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Park Gables Plan A — 1 Bedroom/1 Bath | Independent living | from $2,280p. 69 | $841 |
| Park Gables Plan A1 — 1 Bedroom/1 Bath/Den | Independent living | from $2,687p. 69 | $840 |
| Park Gables Plan B — 1 Bedroom/1 Bath | Independent living | from $2,472p. 69 | $839 |
| Park Gables Plan B1 — 1 Bedroom/1 Bath | Independent living | from $2,472p. 69 | $839 |
| Park Gables Plan C — 2 Bedroom/1 Bath | Independent living | from $2,687p. 69 | $840 |
| Park Gables Plan D — 2 Bedroom/1 Bath | Independent living | from $2,815p. 69 | $840 |
| Park Gables Plan D1 — 2 Bedroom/1 1/2 Bath | Independent living | from $2,815p. 69 | $840 |
| Park Gables Plan E — 2 Bedroom/2 Bath | Independent living | from $3,042p. 69 | $840 |
| Park Gables Plan F — 2 Bedroom/2 Bath | Independent living | from $3,220p. 69 | $840 |
| Park Gables Plan G — 2 Bedroom/2 Bath/Den | Independent living | from $3,375p. 69 | $841 |
| Park Gables Plan H — 2 Bedroom/2 Bath/Den | Independent living | from $3,312p. 69 | $838 |
| Park Gables Plan J — 2 Bedroom/2 Bath/Den | Independent living | from $3,684p. 69 | $840 |
| Park Place Plan A — 1 Bedroom/1 Bath | Independent living | from $1,728p. 71 | $650 |
| Park Place Plan B — 1 Bedroom/1 Bath | Independent living | from $1,803p. 71 | $651 |
| Park Place Plan C — 2 Bedroom/1 Bath | Independent living | from $2,097p. 71 | $651 |
| Park Place Plan D — 2 Bedroom/1 Bath | Independent living | from $2,270p. 71 | $651 |
| Park Place Plan E — 1 Bedroom/1 Bath | Independent living | from $2,270p. 71 | $651 |
| Park Place Plan F — 2 Bedroom/2 Bath | Independent living | from $2,474p. 71 | $649 |
| Park Place Plan G — 2 Bedroom/2 Bath | Independent living | from $2,474p. 71 | $649 |
| Park Village cottage Plan A | Independent living | from $1,890p. 73 | $600 |
| Park Village cottage Plan B | Independent living | from $1,980p. 73 | $600 |
| Park Village cottage Plan C | Independent living | from $2,030p. 73 | $600 |
| Park Village cottage Plan D | Independent living | from $2,150p. 73 | $600 |
| Park Village cottage Plan E | Independent living | from $2,350p. 73 | $600 |
| Park Village cottage Plan F | Independent living | from $2,525p. 73 | $600 |
| Park Village cottage Plan G | Independent living | from $2,750p. 73 | $600 |
| Park Village cottage Plan H | Independent living | from $2,900p. 73 | $600 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | Park Gables | 3.5% | Percent onlyp. 8 |
| 2025 | Independent living | Park Place | 3.5% | Percent onlyp. 8 |
| 2025 | Independent living | Park Village | 3.5% | Percent onlyp. 8 |
| 2024 | Independent living | Park Gables | 4.9% | Percent onlyp. 8 |
| 2024 | Independent living | Park Place | 4.9% | Percent onlyp. 8 |
| 2024 | Independent living | Park Village | 4.9% | Percent onlyp. 8 |
| 2023 | Independent living | Park Gables | 7% | Percent onlyp. 8 |
| 2023 | Independent living | Park Place | 7% | Percent onlyp. 8 |
| 2023 | Independent living | Park Village | 7% | Percent onlyp. 8 |
| 2022 | Independent living | Park Gables | 4% | Percent onlyp. 8 |
| 2022 | Independent living | Park Place | 4% | Percent onlyp. 8 |
| 2022 | Independent living | Park Village | 4% | Percent onlyp. 8 |
| 2021 | Independent living | Park Gables | 3% | Percent onlyp. 8 |
| 2021 | Independent living | Park Place | 3% | Percent onlyp. 8 |
| 2021 | Independent living | Park Village | 3% | Percent onlyp. 8 |
| 2020 | Independent living | Park Gables | 2.7% | Percent onlyp. 8 |
| 2020 | Independent living | Park Place | 3.3% | Percent onlyp. 8 |
| 2020 | Independent living | Park Village | 4.8% | Percent onlyp. 8 |
| 2019 | Independent living | Park Gables | 3.5% | Percent onlyp. 8 |
| 2019 | Independent living | Park Place | 3.5% | Percent onlyp. 8 |
| 2019 | Independent living | Park Village | 3% | Percent onlyp. 8 |
| 2018 | Independent living | Park Gables | 3% | Percent onlyp. 8 |
| 2018 | Independent living | Park Place | 3% | Percent onlyp. 8 |
| 2018 | Independent living | Park Village | 3% | Percent onlyp. 8 |
| 2017 | Independent living | Park Gables | 3% | Percent onlyp. 8 |
| 2017 | Independent living | Park Place | 3% | Percent onlyp. 8 |
| 2017 | Independent living | Park Village | 3% | Percent onlyp. 8 |
| 2016 | Independent living | Park Gables | 3% | Percent onlyp. 8 |
| 2016 | Independent living | Park Place | 3% | Percent onlyp. 8 |
| 2016 | Independent living | Park Village | 3% | Percent onlyp. 8 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Option 1p. 32
Costs 160% of the unit's standard value. Refund is 93% in the first year, 92% in year two, 91% in year three and 90% after 37 months, paid within 30 days after a successor resident signs for the unit. No refund is due if the resident moves to another VMRC facility.
- Kept on move-in
- 7% of the fee
- Declines by
- Not disclosed in the 2025 filing
- Never less than
- Not disclosed in the 2025 filing
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Option 2p. 33
Costs 100% of the unit's standard value. Refund is 80% in the first year, then 70%, 60%, and 50% after 37 months, paid within 30 days after a successor resident signs. No refund on moving to another VMRC facility.
- Kept on move-in
- 20% of the fee
- Declines by
- Not disclosed in the 2025 filing
- Never less than
- Not disclosed in the 2025 filing
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Option 3p. 34
Costs 75% of the unit's standard value. Refund steps down from 80% (months 0-12) to 70%, 60%, 50%, 30%, 20%, 10% and reaches 0% after 55 months. Paid within 30 days after a successor resident signs; none if the resident moves to another VMRC facility.
- Kept on move-in
- 20% of the fee
- Declines by
- Not disclosed in the 2025 filing
- Never less than
- Not disclosed in the 2025 filing
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
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.
- Park Village (VMRC) is part of Virginia Mennonite Retirement Community, Inc. (consolidated: VMRC, Virginia Mennonite Home, Park Village, VMRC Foundation, Heritage Haven).
- Balance sheet: Virginia Mennonite Retirement Community, Inc. (consolidated).
- Ratios: VMRC Obligated Group (VMRC, Virginia Mennonite Home, Park Village, VMRC Foundation; excludes Heritage Haven).
Days cash on hand
421 days FY2025p. 41
- Its lenders’ minimum: Not disclosed in the 2025 filing
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
4.78x FY2025p. 41
- Its lenders’ minimum: Not disclosed in the 2025 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 | FY2025p. 41 | FY2024p. 41 |
|---|---|---|
| Days cash on hand | 421 days | Not disclosed |
| Debt service coverage | 4.78x | Not disclosed |
| Operating margin | 6.73% | Not disclosed |
| Total assets | $110.5 million | $107.3 million |
| Total liabilities | $87.1 million | $87.4 million |
| Long-term debt | $29.6 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $21.6 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $26.3 million | Not disclosed |
| Net position (assets minus liabilities) | $23.4 million | $19.9 million |
Auditor: Beachy Arehart PLLC. Opinion: Unmodified (clean) opinionp. 41
Occupancy
| Level of care | 2025p. 76 |
|---|---|
| Independent living | 96.4% |
| Assisted living | 93.5% |
| Memory care | Not disclosed |
| Nursing care | 78% |
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
- 4 of 5
- Staffing
- 1 of 5
- Quality measures
- 4 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 0. VMRC, COMPLETE LIVING CARE on Care Compare
In brief
Park Village, Inc. runs the 266 independent living homes (Park Village cottages, Park Place and Park Gables) on the Virginia Mennonite Retirement Community campus in Harrisonburg. Residency fees in April 2025 ran from $122,709 to $1,127,549 depending on the unit and one of three refund options (90%, 50% or declining to zero), with monthly fees of $1,728 to $3,684 for one person. Assisted living and nursing are separate VMRC facilities with priority admission at a per diem rate. The obligated group reported 421 days cash on hand and 4.78x debt service coverage for the year ended March 31, 2025.PDF
Nearest communities in Virginia
- Sunnyside
Harrisonburg · 6 miles away
Entrance fee: $68,600 to $809,200
- Bridgewater Retirement Community
Bridgewater · 8 miles away
Entrance fee: $75,606 to $1,906,566
- Summit Square
Waynesboro · 28 miles away
Entrance fee: $71,000 to $373,900
Sources
- Virginia Mennonite Retirement Community (Park Village, Inc.) — Continuing Care Provider Disclosure Statement (July 2025)Virginia State Corporation Commission, Bureau of Insurance · filed 2025, fiscal 2025 finances · 82 pages · retrieved 2026-10-15
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