Andy Isakson’s family legacy stretches back more than 100 years and four generations in Atlanta real estate. Yet he and his siblings (including Senator Johnny Isakson) struggled to find an appropriate home for their parents. The experience convinced Andy the city needed better options for independent seniors, so he began to explore various models. In 2004 Andy, along with his nephew Kevin Isakson, opened his flagship Continuing Care Retirement Community, Park Springs in Stone Mountain. “The old model is, ‘Live here and we’ll take care of you,’” says Andy. “The model we’ve created is quite different. It says, ‘Live here and take care of yourself.’”
The campus stretches over 20 acres, which abut Peachtree Creek and will eventually connect to the Atlanta BeltLine. It is within walking distance of Peachtree Battle Shopping Center and will share its dog park and a large conservation area with Peachtree Hills. In fact, PHP owners will be considered part of the surrounding neighborhood and can join the homeowners association.
It has been almost 10 years since Isakson Living demolished an aging apartment complex to make way for a CCRC. When the project was halted by a bank failure, the developers returned $13 million worth of deposits (with interest). Nonetheless, after the project was relaunched last fall, a third of those original buyers came back on board, helping Isakson Living sell more than half of its PHP units within months. The developers expect move-in by the first half of 2019. “Relaunching has been like a mulligan,” notes Andy. “We got a chance to really learn what our buyers want.”
Condos range from just under 1,400 square feet and $696,500 to 3,294 square feet and $1.8 million (pricing includes a one-time $100,000 club membership fee). Monthly fees range from $3,074 to $5,020.
In addition to its stellar Buckhead location, PHP offers spacious units with upscale features like 10-foot ceilings, high-end appliances, and luxurious master bathrooms. Subtle accommodations like lever door handles, shower grab bars, and wider doorways allow for aging in place. To purchase a home here, prospects must be at least 55 years old and able to live independently. So far, some 40 percent of buyers still work at least part-time, and many split their time between Atlanta and larger homes in resort areas. However, because the community is a CCRC, it will provide home health care, plus housing and medical services for residents who later need skilled nursing or even memory care.
Membership comes with a fitness center, a clubhouse with an art studio and game room, and outdoor amenities such as a regulation croquet lawn. Staff will include 24/7 security, a physical therapist, nurses, and a dietician. The monthly fee also covers transportation, concierge services, and a $500 per person dining credit.
This article originally appeared in our Summer 2017 issue of Atlanta Magazine’s HOME.