The Cypress of Charlotte
3442 Cypress Club Dr., Charlotte, North Carolina 28210 · Community website
- Operator:
- The Cypress of Charlotte, LLC and The Cypress of Charlotte Club, Inc. (managed by Life Care Services LLC)
- Ownership:
- Mixed nonprofit and for-profit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1999
Members own their cottage or villa. The Cypress of Charlotte, LLC (for-profit, South Carolina LLC, developer) and The Cypress of Charlotte Club, Inc. (501(c)(4) nonprofit, d/b/a The Stewart Health Center) both hold the continuing care contracts; The Cypress of Charlotte Homeowners Association, Inc. (for-profit corporation) owns the common property. The parent company of Life Care Services LLC indirectly owns The Cypress of Charlotte, LLC.
- Equity
Figures from the 2026 disclosure statement (fiscal 2025 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
Days cash on hand
Read the note on this figure
Days cash counts $5.25M the Homeowners Association holds as a reserve for replacements and $2.71M internally designated for the NC operating reserve; cash and cash equivalents alone were $1,532,660 at 12/31/2025, about 17 days.
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.
- Equity: You buy your unit.
How the contract types compare
EquityThe filing calls it Membership Agreement; we class contracts by how care is priced (our definitions).
Each Member gets 90 lifetime cumulative days of care in a semi-private room in the Health Care Facility at the current Monthly Payment plus meals and supplies. After that the Member pays the daily Member rate on top of the Monthly Payment until the home is resold, and the Member rate alone afterward; the disclosure calls it the 'member discounted rate' but states no discount size.p. 167
- Assisted living
- First 90 lifetime cumulative days at the Monthly Payment plus two extra meals a day and supplies; after that the applicable daily Member rate in addition to the Monthly Payment
- Nursing care
- First 90 lifetime cumulative days at the Monthly Payment plus two extra meals a day and supplies; after that the applicable daily Member rate in addition to the Monthly Payment
- Care days included
- 90
| Independent living | 310 |
|---|---|
| Assisted living | 14 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 65 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residents buy their homes here rather than pay an entrance fee.
Residents buy their unit and sign a Membership Agreement; there is no entrance fee and no refund (Sections 22 and 24.3, pp32-33). A Membership Fee equal to 10% of the gross purchase price is paid to The Cypress of Charlotte, LLC at or before closing; it is non-refundable and non-transferable (p44, Section 39.1; Membership Agreement paragraphs 3-4, p163). On each resale the next buyer pays a new 10% Membership Fee, deducted from the resale price (p163). The agreement includes 90 lifetime cumulative days of care in the Health Care Facility at the Monthly Payment (plus two extra meals a day and supplies); after that the Member pays the daily Member rate in addition to the Monthly Payment until the home is resold (p167, p28).PDF
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Membership Agreement · Equity (4 prices, $3,826 to $17,867)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Independent Living – Apartment | Independent living | $3,826 to $6,152p. 30 | $2,075 |
| Independent Living – Cottage | Independent living | $6,216 to $6,873p. 30 | $2,075 |
| Assisted Living | Assisted living | $10,388 to $17,867p. 30 | Not listed |
| Skilled Nursing | Nursing care | $7,594 to $10,848p. 30 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 5% | Percent onlyp. 31 |
| 2024 | Independent living | All units | 6% | Percent onlyp. 31 |
| 2023 | Independent living | All units | 7.5% | Percent onlyp. 31 |
| 2022 | Independent living | All units | 9.5% | Percent onlyp. 31 |
| 2021 | Independent living | All units | 6.75% | Percent onlyp. 31 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
No entrance-fee refund plan: residents buy their homes, and the membership fee terms are under Entrance fees.
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Balance sheet and ratios: The Cypress of Charlotte Club, Inc. and The Cypress of Charlotte Homeowners Association, Inc. (combined).
Days cash on hand
104 days FY2025p. 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
4.49x FY2025p. 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 figuresDays cash counts $5.25M the Homeowners Association holds as a reserve for replacements and $2.71M internally designated for the NC operating reserve; cash and cash equivalents alone were $1,532,660 at 12/31/2025, about 17 days.
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. 106 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 104 days | 68 days | 77 days |
| Debt service coverage | 4.49x | 3.57x | 2.01x |
| Operating margin | 6.3% | Not disclosed | Not disclosed |
| Total assets | $41.3 million | Not disclosed | Not disclosed |
| Total liabilities | $11.6 million | Not disclosed | Not disclosed |
| Long-term debt | $8.1 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | Not disclosed | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | Not disclosed | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $29.8 million | Not disclosed | Not disclosed |
Auditor: Forvis Mazars, LLP. Opinion: Unmodified (clean) opinionp. 106
Occupancy
Nursing care on campus
We have not linked this community’s nursing center to a CMS record. Nursing centers certified by Medicare can be looked up on CMS Care Compare.
In brief
The Cypress of Charlotte is an ownership community where residents buy a cottage or villa and pay a membership fee of 10% of the purchase price instead of an entrance fee. At the end of 2025 it had 310 independent homes, 14 assisted living units and 65 nursing beds, with independent living 100% occupied. The membership includes 90 lifetime days of health-center care, after which the daily Member rate applies on top of the monthly fee.PDF
Nearest communities in North Carolina
- The Sharon at SouthPark
Charlotte · 1 miles away
Entrance fee: $26,500 to $907,300
- The Barclay at SouthPark
Charlotte · 1 miles away
Entrance fee: Not disclosed in the 2026 filing
- Southminster
Charlotte · 2 miles away
Entrance fee: $158,500 to $1,248,300
Sources
- The Cypress of Charlotte — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 182 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.