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Harbor's Edge and Lake Prince Woods compared
Two Virginia communities about 18 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Harbor's Edge | Lake Prince Woods |
|---|---|---|
| Location | Norfolk, VA | Suffolk, VA |
| Filing used | 2024 statement, fiscal 2023 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care) | Type C (fee for service) |
| Entrance fee, one person | $283,079 to $2,164,084p. 14 | $70,500 to $792,750p. 103 |
| Monthly fee, independent living | $4,213 to $9,196p. 15p. 14 | $1,692 to $3,137p. 103 |
| Refund plans | 80% Refund; 50% Refund; 0% Refundp. 42 | Fully Declining; Minimum 50% Refundablep. 23p. 37 |
| Highest guaranteed refund | 80% of the feep. 42 | 50% of the feep. 23p. 37 |
| When a refund is paid | In turn, from a fund of new residents' entrance feesp. 42 | When your unit is re-occupied and the new resident has paidp. 23p. 37 |
| Days cash on hand | 200 days (FY2023)p. 120 | 340 days (FY2025)p. 86Figures for EveryAge Obligated Group. Days cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86). |
| Its lenders' minimum | Not disclosed in the 2024 filing | At least 200 daysp. 101 |
| Debt service coverage | 2.98x (FY2023)p. 120 | 3.84x (FY2025)p. 86Figures for EveryAge Obligated Group. Days cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86). |
| Independent living occupancy | 78% (2023)p. 150 | 88.02% (2025)p. 13 |
| Net position | −$69.1 million (FY2023)p. 120 | −$19.1 million (FY2025)p. 86 |
| Whose finances | Fort Norfolk Retirement Community, Inc. and Affiliate (Foundation), consolidated; ratios for Fort Norfolk Retirement Community, Inc.p. 120 | Lake Prince Center, Inc. (including Lake Prince At Home, LLC), column of the EveryAge combining statements; ratios for EveryAge Obligated Groupp. 86 |
| Audit opinion | Unmodified (clean) opinion, Walker Healthcare Services Group (a division of King, Shores & Preston, LLC)p. 120 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 86 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Harbor's Edge
Type A (life care): Life Care residents who move permanently to assisted living, memory support or nursing keep paying their apartment's monthly fee plus a $700 monthly transition fee, regardless of level of care (p16). Residents get priority admission to assisted living and the Nursing Center (p10).p. 16
Lake Prince Woods
Type C (fee for service): Fee-for-service: assisted living, memory care and nursing are available 'at fees current at such time as said services are needed and according to available space.' Any residency-fee refund due is escrowed to pay the resident's healthcare costs.p. 28