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Fox Hill Senior Condominium Development Thrives During National Housing Slump
Date:2/19/2008

Upscale Independent Living Condominiums and Assisted Living Rental Suites

On Track to Open in Late 2008

BETHESDA, Md., Feb. 19 /PRNewswire-FirstCall/ -- Fox Hill Senior Condominium Community in Bethesda, MD, developed and managed by Sunrise Senior Living, Inc. (NYSE: SRZ), continues to thrive during one of the nation's largest housing slumps, as more than 140 condominiums have already been reserved to date and construction on the community is at 70 percent completion.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080219/NETU008 )

Fox Hill is an equity-based independent living condominium community with a separate and distinct area of the community offering short-term and long-term assisted living rental suites for seniors requiring assistance with daily living activities or memory care. This community will offer seniors age 60 and older an upscale lifestyle by combining a prime Bethesda, MD location built on 16.4 wooded acres of forest preserve, with luxury condominium residences, extensive amenities and personalized services.

In addition to the Federal Reserve's recent decision to lower interest rates coupled with the fact that housing prices in the Bethesda, MD area continued to grow in 2006 and 2007 when other DC-metro area housing prices fell, Sunrise also attributes the condominium's success to the local area's demand for distinctive and high-quality service and living options for the active senior.

"Seniors today are active, engaged in their communities and demand a variety of lifestyle options," said Paul Klaassen, Sunrise's founder and CEO. "Fox Hill's extraordinary amenities and services, as well as our uncompromising attention to detail, differentiate us from other senior living communities, and we are excited to be at the forefront of innovating new ways for seniors to live and enjoy life."

Klaassen's own parents will be moving into one of the condominiums later this year.

Fox Hill's 240 independent living condominiums will include one-, two- and three-bedroom residences, ranging in size from 834 to 2,251 square feet overlooking a golf course, forest preserve and manicured courtyards, and can be reserved with a fully refundable 10 percent deposit of the condominium purchase price. Unlike many senior living options, independent living residences at Fox Hill are equity-based, giving seniors the opportunity to own their homes and add care or additional services if and as their needs change over time without having to move. Also unique to Fox Hill are the community's upscale amenities -- all within a gated community -- which will include a spa and salon offering beauty and therapeutic treatments; a 200-seat performing arts center; a business center, which is fully equipped with copy and fax machines and a full service gift wrapping station; a recording studio, indoor driving range, artists' studio, card room, woodworking shop, library; and fully-equipped fitness center complete with an indoor swimming pool and whirlpool.

Chevy Chase Bank will provide full-service banking on premises for the convenience of the owners. Other services include a full-service concierge desk, a variety of dining options, a temperature- and humidity-controlled private wine cellar for storing residents' favorite wines, housekeeping services, garage parking and transportation services. The quality staff at Fox Hill will include chefs, wait staff, security, drivers, hair stylists, activity coordinators and concierges, among others.

Fox Hill will also provide exceptional rental accommodations in a separate area of the community for assisted living services and residents requiring specialized memory care, as well as an on-site outpatient rehabilitation center providing physical, occupational and speech therapies. Reservations for these 83 distinctive rental suites will begin in March. Specially trained staff will serve these areas of the community to ensure residents are receiving the appropriate and high-quality care they deserve, allowing them to age in place. Fox Hill is currently applying for the appropriate license with the State of Maryland's Office of Health Care Quality, which will permit the community to deliver higher levels of care to residents who need it.

Some of the truly extraordinary services also available to the assisted living residents will include: turn-down services; night-time massages; limousine service; door-to-door concierge service such as food delivery, gift wrapping, shopping assistance and postal and banking support; and pet grooming at the community's pet salon -- residents are welcome and encouraged to have pets.

About Sunrise Senior Living (http://www.sunriseseniorliving.com)

Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of September 30, 2007, Sunrise operated 454 communities in the United States, Canada, Germany and the United Kingdom, with a combined capacity for more than 53,000 residents. At quarter end, Sunrise also had 40 communities under construction in these countries with a combined capacity for 6,000 additional residents. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing, rehabilitative and hospice care. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.


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SOURCE Sunrise Senior Living, Inc.
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