The Pines at Davidson
400 Avinger Lane, Davidson, North Carolina 28036 · Community website
- Operator:
- The Pines at Davidson, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1988
- 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
- Range across refund plans (plan not specified)Terms not disclosed in the 2026 filing
- Standard Entrance Fee Option (declining balance)Can decline to nothing
- 50% Refund Entrance Fee OptionNever less than 45% of the fee
- 90% Refund Entrance Fee OptionNever less than 85% of the fee
- Early Advantage declining balance (0% after 12 months)Terms not disclosed in the 2026 filing
Days cash on hand
Read the note on this figure
Counts the $8,025,000 statutory operating reserve, which cannot be used without regulatory approval; cash ($5.3M) and investments ($39.8M) alone ≈ 534 days. Section 29 also gives unrestricted cash and investments as both $53.2M and $47.8M.
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)
14 days each calendar year in assisted living, memory care or nursing with no per diem charge (meals excepted). After that, residents who signed on or after July 1, 2018 pay the published per diem: $246 a day for private assisted living, $367 or $381 for private long-term nursing. A permanent transfer means giving up the independent living unit; after more than 30 nursing days in a 90-day period a temporary resident may surrender the unit or keep paying its monthly fee on top of the per diem. Residents who signed before July 1, 2018 pay a discounted daily rate. Priority access on a space-available basis.p. 19
- Assisted living
- Up to 14 days a year with no per diem (meals charged), then the published per diem ($246/day private); a temporary stay keeps the IL monthly fee, a permanent transfer gives up the IL unit
- Nursing care
- Up to 14 days a year with no per diem (meals charged), then the published per diem ($367 or $381/day private); a temporary stay keeps the IL monthly fee, a permanent transfer gives up the IL unit
- Care days included
- 14
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 292 |
|---|---|
| Assisted living | 30 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 82 |
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) (20 prices, $59,360 to $1,150,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Studio | Range across refund plans (plan not specified) | $59,360p. 23 | $36,000 |
| Deluxe Studio | Range across refund plans (plan not specified) | $81,760p. 23 | $36,000 |
| One-Bedroom | Range across refund plans (plan not specified) | $191,535p. 23 | $36,000 |
| Two-Bedroom | Range across refund plans (plan not specified) | $330,400p. 24 | $36,000 |
| Two-Bedroom Suite | Range across refund plans (plan not specified) | $359,310p. 24 | $36,000 |
| Two-Bedroom Deluxe | Range across refund plans (plan not specified) | $371,700p. 24 | $36,000 |
| Cottage | Range across refund plans (plan not specified) | $427,200p. 24 | $36,000 |
| Large Cottage | Range across refund plans (plan not specified) | $482,400p. 24 | $36,000 |
| Large Cottage with Sunroom | Range across refund plans (plan not specified) | $519,600p. 24 | $36,000 |
| Large Cottage with Sunroom / Study and Garage | Range across refund plans (plan not specified) | $679,140p. 24 | $36,000 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom Villa (Unit A) | Range across refund plans (plan not specified) | $610,000p. 24 | $36,000 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom Deluxe Villa (Unit B) | Range across refund plans (plan not specified) | $660,000p. 24 | $36,000 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom with Den Villa (Unit C) | Range across refund plans (plan not specified) | $732,500p. 24 | $36,000 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom with Den Deluxe Villa (Unit D) | Range across refund plans (plan not specified) | $747,500p. 24 | $36,000 |
| Villa (Poplar Hill) - 1 Bedroom Deluxe Villa with Sunroom/Study (1.5 Bath) (Green) | Range across refund plans (plan not specified) | $466,800p. 24 | $36,000 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Porch or Balcony (2 Bath) (Blue) | Range across refund plans (plan not specified) | $586,800p. 24 | $36,000 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Sunroom/Study (2 Bath) (Red) | Range across refund plans (plan not specified) | $661,200p. 24 | $36,000 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Sunroom/Study and Balcony (2 Bath) (Yellow) | Range across refund plans (plan not specified) | $682,800p. 24 | $36,000 |
| Chartwell Estate | Range across refund plans (plan not specified) | $720,000p. 24 | Not listed |
| Shaw Property | Range across refund plans (plan not specified) | $1,150,000p. 24 | Not listed |
Early Advantage Agreement (continuing care at home) · Type B (modified) (1 prices, $40,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Early Advantage (lives off campus) | Early Advantage declining balance (0% after 12 months) | $40,000p. 25 | $40,000 |
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) (20 prices, $3,385 to $8,183)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Studio | Independent living | $3,385p. 22 | $1,802 |
| Deluxe Studio | Independent living | $3,550p. 22 | $1,799 |
| One-Bedroom | Independent living | $4,218p. 22 | $1,976 |
| Two-Bedroom | Independent living | $4,631p. 22 | $2,170 |
| Two-Bedroom Suite | Independent living | $4,755p. 22 | $2,168 |
| Two-Bedroom Deluxe | Independent living | $4,992p. 22 | $2,172 |
| Cottage | Independent living | $5,022p. 22 | $2,371 |
| Large Cottage | Independent living | $5,420p. 22 | $2,375 |
| Large Cottage with Sunroom | Independent living | $5,420p. 22 | $2,375 |
| Large Cottage with Sunroom / Study and Garage | Independent living | $5,793p. 22 | $2,390 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom Villa (Unit A) | Independent living | $5,450p. 22 | $2,392 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom Deluxe Villa (Unit B) | Independent living | $5,549p. 22 | $2,390 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom with Den Villa (Unit C) | Independent living | $5,701p. 22 | $2,391 |
| Villa (Laurel Ridge/Hickory Crest) - 2 Bedroom with Den Deluxe Villa (Unit D) | Independent living | $5,777p. 22 | $2,366 |
| Villa (Poplar Hill) - 1 Bedroom Deluxe Villa with Sunroom/Study (1.5 Bath) (Green) | Independent living | $4,754p. 23 | $2,173 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Porch or Balcony (2 Bath) (Blue) | Independent living | $5,436p. 23 | $2,392 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Sunroom/Study (2 Bath) (Red) | Independent living | $5,535p. 23 | $2,390 |
| Villa (Poplar Hill) - 2 Bedroom Villa with Sunroom/Study and Balcony (2 Bath) (Yellow) | Independent living | $5,549p. 23 | $2,390 |
| Chartwell Estate | Independent living | $8,183p. 22 | Not listed |
| Shaw Property | Independent living | $8,183p. 22 | Not listed |
Early Advantage Agreement (continuing care at home) · Type B (modified) (1 prices, $700)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Early Advantage (lives off campus) | Independent living | $700p. 25 | $700 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 4% | Percent onlyp. 23 |
| 2024 | Independent living | All units | 5% | Percent onlyp. 23 |
| 2023 | Independent living | All units | 7.5% | Percent onlyp. 23 |
| 2022 | Independent living | All units | 5.9% | Percent onlyp. 23 |
| 2021 | Independent living | All units | 3.5% | Percent onlyp. 23 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Range across refund plans (plan not specified)p. 24
Table 21.3 prints one price per unit without naming the refund plan. The 50% and 90% refund options are priced from an age-based actuarial schedule that the statement does not print.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2026 filing
Standard Entrance Fee Option (declining balance)p. 30
5% of the fee is non-refundable and the refund falls a further 5% of the fee per month of occupancy; after 12 months nothing is refunded (the drop from about 35% to zero happens at month 12). Paid within 60 days after your unit is resold and the new entrance fee is received.
- Kept on move-in
- 5% of the fee
- Declines by
- 5% a month for 12 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
50% Refund Entrance Fee Optionp. 31
At least 50% of the entrance fee comes back; the other half amortizes like the standard plan. Paid within 60 days after your unit is resold and the new entrance fee is received.
- Kept on move-in
- 5% of the fee
- Declines by
- 5% a month
- Never less than
- 45% of the fee
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
90% Refund Entrance Fee Optionp. 31
At least 90% of the entrance fee comes back; the other 10% amortizes like the standard plan. Paid within 60 days after your unit is resold and the new entrance fee is received.
- Kept on move-in
- 5% of the fee
- Declines by
- 5% a month
- Never less than
- 85% of the fee
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Early Advantage declining balance (0% after 12 months)p. 27
The refundable portion amortizes to zero over 12 months; 50% and 90% options are not offered. If the member later moves on campus the fee is credited toward the campus entrance fee rather than refunded.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2026 filing
Refund calculator
Estimated refund: 0%
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: The Pines at Davidson, Inc. (consolidated).
- Ratios: The Pines at Davidson, Inc. (sole member of its obligated group).
Days cash on hand
630 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
4.10x 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 figuresCounts the $8,025,000 statutory operating reserve, which cannot be used without regulatory approval; cash ($5.3M) and investments ($39.8M) alone ≈ 534 days. Section 29 also gives unrestricted cash and investments as both $53.2M and $47.8M.
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. 54 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 630 days | 572 days | 603 days |
| Debt service coverage | 4.10x | 2.68x | 3.14x |
| Operating margin | 8.47% | 9.17% | 11.19% |
| Total assets | $180.9 million | Not disclosed | Not disclosed |
| Total liabilities | $119.5 million | Not disclosed | Not disclosed |
| Long-term debt | $58.0 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $49.8 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $5.3 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $61.5 million | Not disclosed | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 54
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 Pines at Davidson is a nonprofit continuing care retirement community on about 52 acres in Davidson, opened in 1988, with 292 independent living units, 30 assisted living beds and 82 nursing beds including memory care. Its contract includes 14 Health Center days a year, then published per diem rates; entrance fees run from $59,360 for a studio to $1,150,000 for the Shaw Property residence, with standard, 50% and 90% refund options. Audited FY2025 ratios show 630 days cash on hand and 4.10x debt service coverage, and independent living occupancy averaged 94.7%.PDF
Nearest communities in North Carolina
- Stanley Total Living Center
Stanley · 16 miles away
Entrance fee: $36,000 to $42,000
- Givens Aldersgate
Charlotte · 18 miles away
Entrance fee: $238,794 to $928,258
- Sharon Village Apartments
Charlotte · 21 miles away
Entrance fee: $17,000 to $30,000
Sources
- The Pines at Davidson — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 185 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.