The Forest at Duke
2701 Pickett Road, Durham, North Carolina 27705 · Community website
- Operator:
- The Forest at Duke, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1992
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Refund plans offered
- Declining Balance (0% after 50 months)Can decline to nothing
- Early Acceptance Declining Balance (0% after 25 months)Can decline to nothing
Days cash on hand
Read the note on this figure
Counts the $6.83M statutory operating reserve and $4.99M of board-designated funds; cash and investments alone ($38.7M) ≈ 521 days, or ≈ 588 days with the board-designated funds but without the statutory reserve.
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 B (modified): A set number of care days is included, or care is charged at a stated discount.
How the contract types compare
Type B (modified)The filing calls it Life care; we class contracts by how care is priced (our definitions).
15 pre-paid days, then 60% or 40% of the per diem: the 15 pre-paid Health Center days re-accrue one a month up to 15; after that a temporary stay costs the monthly fee plus 60% of the $579 per diem (effective 10/1/2025), and a permanent move costs 40% of the per diem in place of the monthly fee. A resident who moves permanently out of a two-person apartment keeps paying the second-person monthly fee plus 15% of the per diem. People admitted directly before moving in pay $14,720/month for skilled nursing or $11,636/month for adult care.p. 27
- Assisted living
- 15 pre-paid days, then the monthly fee plus 60% of the per diem while temporary; 40% of the per diem (no monthly fee) once permanent
- Nursing care
- 15 pre-paid days, then the monthly fee plus 60% of the per diem while temporary; 40% of the per diem (no monthly fee) once permanent
- Care days included
- 15
| Independent living | 304 |
|---|---|
| Assisted living | 32 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 58 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence and Care Agreement · Type B (modified) (21 prices, $99,729 to $680,585)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Apartment - Ash (1 BDR) | Declining Balance (0% after 50 months) | $99,729p. 24 | $42,000 |
| Apartment - Beech (1 BDR exp) | Declining Balance (0% after 50 months) | $148,277p. 24 | $42,000 |
| Apartment - Cedar (1 BDR w/den) | Declining Balance (0% after 50 months) | $220,291p. 24 | $42,000 |
| Apartment - Dogwood (2 BDR) | Declining Balance (0% after 50 months) | $289,843p. 24 | $42,000 |
| Apartment - Elm (2 BDR w/den) | Declining Balance (0% after 50 months) | $310,098p. 24 | $42,000 |
| Apartment - Aspen (1BDR w/den) | Declining Balance (0% after 50 months) | $416,494p. 24 | $41,000 |
| Apartment - Bradford (2BDR/2B) | Declining Balance (0% after 50 months) | $431,246p. 24 | $41,000 |
| Apartment - Cypress (2 BDR/2B) | Declining Balance (0% after 50 months) | $488,614p. 24 | $41,000 |
| Apartment - Spruce (2 BDR/2.5B +den) | Declining Balance (0% after 50 months) | $524,674p. 24 | $41,000 |
| Apartment - Oak (2BDR/2.5B +den) | Declining Balance (0% after 50 months) | $527,953p. 24 | $41,000 |
| Apartment - Willow (2BDR/2.5B + den) | Declining Balance (0% after 50 months) | $560,734p. 24 | $41,000 |
| Apartment - Linden (2BDR/2.5B + den) | Declining Balance (0% after 50 months) | $563,685p. 24 | $41,000 |
| Apartment - Juniper (2BDR/2.5B +den) | Declining Balance (0% after 50 months) | $570,569p. 24 | $41,000 |
| Apartment - Maple (2BDR/2.5B+den) | Declining Balance (0% after 50 months) | $570,569p. 24 | $41,000 |
| Apartment - Hawthorn (2BDR/2.5B +den) | Declining Balance (0% after 50 months) | $588,599p. 24 | $41,000 |
| Cottage - Alder (1 BDR w/den) | Declining Balance (0% after 50 months) | $333,106p. 24 | $42,000 |
| Cottage - Birch (2 BDR) | Declining Balance (0% after 50 months) | $394,082p. 24 | $42,000 |
| Cottage - Chestnut (2 BDR w/den) | Declining Balance (0% after 50 months) | $452,256p. 24 | $42,000 |
| Cottage - Pine (2 BDR w/study) | Declining Balance (0% after 50 months) | $626,838p. 24 | $62,000 |
| Cottage - Holly (2 BDR w/study) | Declining Balance (0% after 50 months) | $653,718p. 24 | $42,000 |
| Cottage - Magnolia (2 BDR w/study) | Declining Balance (0% after 50 months) | $680,585p. 24 | $42,000 |
Early Acceptance Agreement · Type B (modified) (1 prices, $50,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Early Acceptance (lives off campus) | Early Acceptance Declining Balance (0% after 25 months) | $50,000p. 39 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Care Agreement · Type B (modified) (21 prices, $4,300 to $7,893)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Apartment - Ash (1 BDR) | Independent living | $4,300p. 26 | $2,203 |
| Apartment - Beech (1 BDR exp) | Independent living | $4,984p. 26 | $2,203 |
| Apartment - Cedar (1 BDR w/den) | Independent living | $5,641p. 26 | $2,203 |
| Apartment - Dogwood (2 BDR) | Independent living | $6,414p. 26 | $2,203 |
| Apartment - Elm (2 BDR w/den) | Independent living | $6,883p. 26 | $2,203 |
| Apartment - Aspen (1BDR w/den) | Independent living | $6,436p. 26 | $2,196 |
| Apartment - Bradford (2BDR/2B) | Independent living | $6,500p. 26 | $2,196 |
| Apartment - Cypress (2 BDR/2B) | Independent living | $6,758p. 26 | $2,196 |
| Apartment - Spruce (2 BDR/2.5B +den) | Independent living | $6,937p. 26 | $2,196 |
| Apartment - Oak (2BDR/2.5B +den) | Independent living | $6,950p. 26 | $2,196 |
| Apartment - Willow (2BDR/2.5B + den) | Independent living | $7,098p. 26 | $2,196 |
| Apartment - Linden (2BDR/2.5B + den) | Independent living | $7,110p. 26 | $2,196 |
| Apartment - Juniper (2BDR/2.5B +den) | Independent living | $7,144p. 26 | $2,196 |
| Apartment - Maple (2BDR/2.5B+den) | Independent living | $7,144p. 26 | $2,196 |
| Apartment - Hawthorn (2BDR/2.5B +den) | Independent living | $7,207p. 26 | $2,196 |
| Cottage - Alder (1 BDR w/den) | Independent living | $6,534p. 26 | $2,203 |
| Cottage - Birch (2 BDR) | Independent living | $6,883p. 26 | $2,203 |
| Cottage - Chestnut (2 BDR w/den) | Independent living | $7,247p. 26 | $2,203 |
| Cottage - Pine (2 BDR w/study) | Independent living | $7,493p. 26 | $2,203 |
| Cottage - Holly (2 BDR w/study) | Independent living | $7,734p. 26 | $2,203 |
| Cottage - Magnolia (2 BDR w/study) | Independent living | $7,893p. 26 | $2,203 |
Early Acceptance Agreement · Type B (modified) (1 prices, $950)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Early Acceptance (lives off campus) | Independent living | $950p. 39 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 4.3% | Percent onlyp. 28 |
| 2025 | Assisted living | All units | 4.3% | Percent onlyp. 29 |
| 2025 | Nursing care | All units | 4.3% | Percent onlyp. 29 |
| 2024 | Independent living | All units | 4.5% | Percent onlyp. 28 |
| 2024 | Assisted living | All units | 4.5% | Percent onlyp. 29 |
| 2024 | Nursing care | All units | 4.5% | Percent onlyp. 29 |
| 2023 | Independent living | All units | 6% | Percent onlyp. 28 |
| 2023 | Assisted living | All units | 6% | Percent onlyp. 29 |
| 2023 | Nursing care | All units | 6% | Percent onlyp. 29 |
| 2022 | Independent living | All units | 4.5% | Percent onlyp. 28 |
| 2022 | Assisted living | All units | 5% | Percent onlyp. 29 |
| 2022 | Nursing care | All units | 5% | Percent onlyp. 29 |
| 2021 | Independent living | All units | 3.5% | Percent onlyp. 28 |
| 2021 | Assisted living | All units | 4% | Percent onlyp. 29 |
| 2021 | Nursing care | All units | 4% | Percent onlyp. 29 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Declining Balance (0% after 50 months)p. 17
The $10,000 Health Care Reserve Fee is never refunded. The Residence Fee refund falls 2% for each month of residence and reaches zero after 50 months; any refund is paid 30 days after your unit is re-occupied and a full Entry Fee is received for it.
- Kept on move-in
- Not disclosed in the 2026 filing
- 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
Early Acceptance Declining Balance (0% after 25 months)p. 37
The $10,000 Health Care Reserve Fee is never refunded. The $40,000 Residence Fee refund falls 4% a month to zero after 25 months, paid within 60 days after outstanding charges are settled.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- 4% a month for 25 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- 2 months
- Paid
- Within a fixed number of days
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.
- Balance sheet and ratios: The Forest at Duke, Inc.
Days cash on hand
678 days FY2025p. 31
- Its lenders’ minimum: 120 daysp. 31
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
2.00x FY2025p. 31
- Its lenders’ minimum: 1.20xp. 31
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresCounts the $6.83M statutory operating reserve and $4.99M of board-designated funds; cash and investments alone ($38.7M) ≈ 521 days, or ≈ 588 days with the board-designated funds but without the statutory reserve.
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. 47 | FY2024p. 31 | FY2023p. 31 |
|---|---|---|---|
| Days cash on hand | 678 days | 736 days | 660 days |
| Debt service coverage | 2.00x | 2.25x | 4.21x |
| Operating margin | 4.2% | 4.6% | 1.5% |
| Total assets | $243.9 million | Not disclosed | Not disclosed |
| Total liabilities | $231.6 million | Not disclosed | Not disclosed |
| Long-term debt | $149.8 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $46.5 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $7.0 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $12.3 million | Not disclosed | Not disclosed |
Auditor: Forvis Mazars, LLP. Opinion: Unmodified (clean) opinionp. 47
Occupancy
| Level of care | 2025p. 35 |
|---|---|
| Independent living | 95% |
| Assisted living | Not disclosed |
| Memory care | Not disclosed |
| Nursing care | Not disclosed |
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
- 4 of 5
- Health inspections
- 5 of 5
- Staffing
- 1 of 5
- Quality measures
- No rating
Fines recorded by CMS: 0. Health citations since 2023-10-16: 1. The Forest At Duke Inc on Care Compare
CARF-accredited since 2007. Check on CARF’s site
In brief
The Forest at Duke is a nonprofit continuing care retirement community on 47 acres in Durham with 223 apartments, 81 cottages and a 90-unit health center (32 assisted living, 58 nursing). Its one contract gives 15 pre-paid days, then 60% or 40% of the per diem; entry fees effective October 1, 2025 run from $99,729 to $680,585 and decline to no refund after 50 months. The audited FY2025 (September year-end) statements show 678 days cash on hand and 2.0x debt service coverage against covenants of 120 days and 1.2x.PDF
Nearest communities in North Carolina
- Croasdaile Village Retirement Community
Durham · 5 miles away
Entrance fee: $70,619 to $586,998
- Carol Woods
Chapel Hill · 5 miles away
Entrance fee: $116,600 to $671,700
- The Cedars of Chapel Hill
Chapel Hill · 6 miles away
Entrance fee: Purchase + membership fee
Sources
- The Forest at Duke — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 153 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.