After filing last year for Chapter 11 bankruptcy, the Edgemere senior living community in Dallas has emerged to a fresh start with new owners and a new property management company.
Bay 9 Holdings LLC officially became the new owners of the 16-acre, one-million-square-foot, resort-style retirement community last month. The San Francisco- and Denver-based company pledged to “restore the level of service excellence for which Edgemere is known,” according to a company press release.
Long Hill at Edgemere LLC took over property management duties as of June 14.
“We are so pleased this part of the process is now complete,” said David Lawlor, president and CEO for Long Hill and its parent company, United Methodist Homes, a mission-based, not-for-profit organization serving seniors since 1874.
“This community and its residents have had a rough time of it over the past year, so everyone is both relieved and very excited for Edgemere to begin a new chapter,” Lawlor said in the press release.
Although the owners and management company are new to the community, residents will still see plenty of familiar faces at the complex. More than 99% of the 280 staff members have chosen to remain at Edgemere to serve the residents.
Erle Nye, a member of the Resident Association, commented, “We couldn’t be happier about the [sale] closing and the fact that so many of Edgemere’s current employees are staying here with us. This community has always been special and tight-knit, and it’s due to the amazing residents who live here and the wonderful staff members who are so committed to providing excellent service and care every day.”
Although most of the facility is devoted to one- and two-bedroom independent living residences, Edgemere will continue to offer assisted living, memory care, physical rehabilitation, and skilled nursing on the same campus.
Some of the new amenities that residents can look forward to are wellness programs and an on-site clinic, according to John Falldine, the long-time executive director of Edgemere.
“Because Edgemere is Edgemere, it is just such an awesome community, and to get to be the executive director of it and kind of steer the ship, it’s just really a cool job,” Falldine told The Dallas Express. “It’s not without stress, not without difficulty, but Edgemere is just a phenomenal building, and [there’s a] phenomenal spirit here that’s kind of what we call the spirit of Edgemere.”
“You can almost feel it when you walk in, you know, you have the concierge, and they’re always going to be right there and smile, and you’re just going to get a positive vibe and feel when you walk through here, and it just makes it a really special place,” said Falldine.
Falldine explained that Edgemere is changing how it accepts new applicants, switching from a continuum of care or entrance fee model to a rental model. Some senior living communities require a hefty lump sum entry fee to guarantee that residents can remain at the facility for life and continue receiving care at below-market rates.
“The community is going to convert to a rental community instead of requiring a large entrance fee in order to move in, so that’s a pretty significant change,” said Falldine.
Another significant change is happening in the community’s dining services department. The third-party dining services company that previously provided meals for the residents has been terminated. Now all culinary services will be provided in-house.
Edgemere is located at 8523 Thackery St., nestled between the Park Cities and Preston Hollow neighborhoods of Dallas.
