The Woodlands
4320 Forest Hill Drive, Fairfax, Virginia 22030
- Operator:
- The Woodlands Retirement Community, LLC
- Ownership:
- For-profit
- Affiliation:
- Not disclosed in the 2023 filing
- Opened:
- 2008
Virginia LLC owned in six equal 16.67% shares by members of the Bainum family; not tax-exempt. Assisted living is provided next door by Virginia Gardens, L.L.C. (The Gardens), a separate company with similar ownership.
- Type B (modified)
Figures from the 2023 disclosure statement (fiscal 2021 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF The finances describe fiscal 2021; this is the newest statement we have for The Woodlands, and a later one may have been filed since.
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- 90% RefundableNever less than 90% of the fee
- 70% RefundableNever less than 70% of the fee
Days cash on hand
Read the note on this figure
Computed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund.
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)
Independent living only. Both the entrance-fee and rental agreements include a total of 5 days of respite care at The Gardens assisted living for the life of the agreement, plus priority admission there; any other assisted living is paid by the resident, and no nursing care is provided.p. 18
- Assisted living
- Five lifetime days of respite care at The Gardens (affiliated assisted living) included; otherwise assisted living at The Gardens under a separate agreement at the resident's own expense
- Nursing care
- Not offered; The Woodlands provides no health care
- Care days included
- 5
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 102 |
|---|---|
| Assisted living | None on campus |
| Memory care | None on campus |
| Nursing care | None on campus |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
90% Residence and Care Agreement · Type B (modified) (15 prices, $346,000 to $765,000)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| The Willows (One Bedroom) III (1 Bath) | 932 | 90% Refundable | from $372,000p. 123 | Not listed |
| The Willows (One Bedroom) IV (1 Bath) | 887 | 90% Refundable | from $346,000p. 123 | Not listed |
| The Maples (One Bedroom/Study) II (1 Bath) | 947 | 90% Refundable | from $384,000p. 123 | Not listed |
| The Maples (One Bedroom/Study) III (1 1/2 Bath) | 1,251 | 90% Refundable | from $500,000p. 123 | Not listed |
| The Maples (One Bedroom/Study) IV (1 Bath) | 980 | 90% Refundable | from $397,000p. 123 | Not listed |
| The Maples (One Bedroom/Study) V (1 1/2 Bath) | 1,020 | 90% Refundable | from $410,000p. 123 | Not listed |
| The Elms (Two Bedroom) I (1 Bath) | 874 | 90% Refundable | from $360,000p. 123 | Not listed |
| The Elms (Two Bedroom) II (2 Bath) | 1,240 | 90% Refundable | from $510,000p. 123 | Not listed |
| The Elms (Two Bedroom) III (2 Bath) | 1,451 | 90% Refundable | from $580,000p. 123 | Not listed |
| The Elms (Two Bedroom) IV (2 Bath) | 1,462 | 90% Refundable | from $595,000p. 123 | Not listed |
| The Oaks (Two Bedroom/Study) I (2 Bath) | 1,434 | 90% Refundable | from $574,000p. 123 | Not listed |
| The Oaks (Two Bedroom/Study) II (2 Bath) | 1,500 | 90% Refundable | from $630,000p. 123 | Not listed |
| The Oaks (Two Bedroom/Study) III (2 Bath) | 1,573 | 90% Refundable | from $640,000p. 123 | Not listed |
| The Oaks (Two Bedroom/Study) IV (2 Bath) | 1,687 | 90% Refundable | from $685,000p. 123 | Not listed |
| The Oaks (Two Bedroom/Study) V (2 1/2 Bath) | 1,894 | 90% Refundable | from $765,000p. 123 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
90% / 70% Residence and Care Agreement · Type B (modified) (4 prices, $5,031 to $7,190)
Rental Residence and Care Agreement · Type B (modified) (1 prices, $6,931)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Rental apartment (single resident) | Independent living | from $6,931p. 161 | Not listed |
Fee increases, year by year
No year-by-year increase history was recorded from the 2023 filing.
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
90% Refundablep. 23
90% of the entrance fee is refunded (no monthly decline) within 60 days after you vacate and a new resident pays the full entrance fee for your apartment. If the unit is not re-occupied in a reasonable time, it may be re-marketed at a discount and the refund becomes 90% of the discounted fee.
- Kept on move-in
- Not disclosed in the 2023 filing
- Declines by
- Does not decline
- 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
70% Refundablep. 77
Same terms as the 90% plan with a 70% refund: paid after a new resident pays for the vacated apartment, and reduced to 70% of a discounted fee if the unit is re-marketed at a discount.
- Kept on move-in
- Not disclosed in the 2023 filing
- Declines by
- Does not decline
- Never less than
- 70% 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: $311,400 (90% 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 Woodlands Retirement Community, LLC.
- Days cash on hand was calculated by us from the audited statements using the standard formula. The formula
Days cash on hand
15 days FY2021p. 135
- Its lenders’ minimum: Not disclosed in the 2023 filing
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
Not disclosed in the 2023 filing
- Its lenders’ minimum: Not disclosed in the 2023 filing
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresComputed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund.
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 | FY2021p. 132 | FY2020p. 132 |
|---|---|---|
| Days cash on hand | 15 days | Not disclosed |
| Operating margin | 1.4% | Not disclosed |
| Total assets | $31.3 million | $31.7 million |
| Total liabilities | $25.1 million | $26.4 million |
| Long-term debt | $5.0 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $18.3 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $6.2 million | $5.3 million |
Auditor: Foote and Lloyd, Certified Public Accountants. Opinion: Unmodified (clean) opinionp. 132
Occupancy
| Level of care | 2021p. 149 |
|---|---|
| Independent living | 83% |
| Assisted living | Not disclosed |
| Memory care | Not disclosed |
| Nursing care | Not disclosed |
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2020-10 Obtained a $6,000,000 line of credit from Diamond Bank maturing October 8, 2023; $5,033,367 outstanding net of loan costs at 12/31/2021.p. 140
Nursing care on campus
The filing lists no nursing beds on campus, so there is no CMS nursing-home record to show.
In brief
The Woodlands is a for-profit, independent-living-only community of 102 apartments in Fairfax, opened in 2008, with assisted living available next door at the affiliated Virginia Gardens. Entrance fees in 2023 started at $346,000 to $765,000, 90% refunded once a new resident pays the entrance fee for the vacated apartment, plus monthly fees from $5,031; rentals start at $6,931 a month. Both contracts include 5 lifetime respite days at The Gardens and no nursing care, and the latest audited figures in the filing are for 2021, when occupancy averaged 83%.PDF
Nearest communities in Virginia
- The Virginian
Fairfax · 4 miles away
Entrance fee: None: rental
- The Mather
Tysons · 8 miles away
Entrance fee: $698,500 to $4,783,800
- Greenspring Village
Springfield · 9 miles away
Entrance fee: $144,000 to $1,280,000
Sources
- The Woodlands Retirement Community, LLC — 2023 Disclosure Statement (FY2021)Virginia State Corporation Commission, Bureau of Insurance · filed 2023, fiscal 2021 finances · 236 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.