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CityClub Residences targets affluent, 60+ market

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Contributed by: Judy Goldstein on 6/16/2008

CityClub Residences Boca Raton
appeals to affluent, age 60+ adults seeking peace of mind

BOCA RATON, Fla. - With the leading edge of the 78 million baby boomers turning 62 this year, and this population group being wealthier than any older adult group in U.S. history, a Miami-based company has focused its attention on developing an unprecedented ultra-luxury housing brand for affluent, age 60+ consumers. The company - Kapital Development dba CityClub Residences, CityClub Living - is now accepting priority reservation deposits for its first locations, in Boca Raton and Coral Gables, Florida. Kapital is taking the brand national under the "CityClub Residences" name and the Boca Raton project is the prototype.

Unlike living in a typical luxury condominium that offers great amenities, pampered services and the advantages of homeownership without the upkeep, CityClub Residences includes the important component of peace of mind, with premium in-home or on-site healthcare options managed by a decades-old public company (NYSE: SRZ) that is the nation's largest provider of private pay senior living services.

"This means that you can't be forced to move from your residence if or when medical conditions necessitate different types of care. At CityClub Residences, on the other hand, you will be able to age in place while enjoying the lifestyle you are accustomed to," explained Michael Neumann, executive vice president of sales and marketing for the new brand.

Continuing, Neumann said, "There needed to be another option, and CityClub Residences is it. These magnificent, amenities- and services-rich buildings will be in urban or revitalized suburban locations, close to great shopping, fine restaurants, culture and the like. These are energizing locations and they are where today's older, vibrant adults want to be."

He also pointed out that many older adults, including their spouses who are the caregivers, become isolated when living in a single-family home where they eventually bring in home healthcare.

"Affluent boomers and even their parents don't want to leave their old lives behind. They want to live life to the fullest, on their own terms, without worrying about where they'll have to move 5, 10 or 20 years from now. Even if they are downsizing, they want their environment to be a high-quality, prestigious one, with beautiful appointments," Neumann commented. "The quality of CityClub Residences is befitting a homeowner and can't be compared in any way to a rental property. Nor can it be compared to an active adult community, retirement community or senior living facility. Quite simply, it's in a league of its own."

At CityClub Residences, there's high-level luxury, great amenities and services, fee simple ownership and carefree living. "When you add in premium healthcare options (from home healthcare and in-home assisted living, to on-site rehabilitative services, and memory care in a secured area staffed by trained caregivers), this is a very desirable alternative for a growing market of discerning, well-heeled consumers," he said.

An on-site health professional will ensure that individual medical needs are met through care coordination. Examining rooms will be available for visiting physicians. Residences will have a 24/7 voice-to-voice emergency call system. Residents will have 24/7 access to the Mayo Clinic for medical advice via a toll-free number, as well as receive a customizable, wallet-sized DVD member card containing all of their personal information, including medical history, physician contacts, medications and other vital data.

In Boca Raton, plans call for a 10-story, Mizner-inspired landmark building with 168 residences. Anticipating needs before they occur, the structure will incorporate "Smart Design" features. The purpose-built design removes barriers for some, while at the same time improves functionality for all. These elements take into consideration possible changes in vision, hearing, sense of touch, mobility and agility that can take place over time as older adults age.

Floor plans range from just under 1,000 to more than 4,800 of air-conditioned living space, with prices from the $500,000s, to over $3.5 million for the lavish penthouses. Private elevators will lead directly into some of the residences. The decorator-finished units will be ready to move into; all owners have to do is bring their furniture.

CityClub Residences Boca Raton's menu of amenities is extensive and includes a fitness/wellness center with trainers and nutrition counselor, day spa and salon, theater, classrooms, overnight guest suites, art studio, cocktail lounge, restaurants, retail shops and
banking. Furthermore, there will be 24/7 valet parking, daily housekeeping, chauffeured Mercedes-Benz scheduled transportation, car detailing, dog grooming and other services.

The Boca Raton site, at 855 South Federal Highway, is just one block north of Camino Real, across from the renowned Boca Raton Resort and Club and just a bridge away from the ocean. For further information, visit www.cityclubliving.com or call 561-368-3002.

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