The Cypress of Raleigh recently celebrated the one-year anniversary of its opening. To date, it has closed on 170 homes with a total real estate value of over $100 million. And the majority of the community’s buyers paid cash.

An equity continuing care retirement community, The Cypress of Raleigh caters to a demographic that has little need for financing. Most buyers sold their existing homes to buy a home at The Cypress. Roughly 75 percent of buyers came from the Triangle, with the remaining 25 percent from other areas of the United States, mostly to be closer to adult children.

The Cypress of Raleigh is the third Cypress community. The first was built in Hilton Head, S.C. and the second in Charlotte. “The Cypress of Charlotte finished its build out in 2000 and now has a 170-person waiting list,” said Mark Andrews, a principal and managing member of The Cypress of Raleigh.

Andrews said that homes at The Cypress of Charlotte have averaged an 11 percent annual appreciation rate for almost 10 years. The key is simple supply and demand. “Our anticipation is that after The Cypress of Raleigh is built out, we will have a similar experience to The Cypress of Charlotte’s,” said Andrews. He added that 85 percent of the Raleigh community’s first-phase homes are sold, and they are now pre-selling another 60 homes for the next phase.

“The Cypress equity model, CRCC, means that the members own their homes,” Andrews said.

The campus has a neighborhood feel — a clubhouse with dining rooms, meeting rooms, a beauty parlor, an art studio, an indoor swimming pool and The Rosewood, a 40-bed health center. Retired Episcopal bishop and Cypress member Bob Estill said, “The Cypress is a park-like setting with ducks, birds and ponds. We have an indoor Olympic-size pool we can use all year round and a fitness center with all the equipment you could possibly need. I play golf two days a week at nearby Wildwood Green Golf course. Cypress transportation picks me up and takes me over there and brings me back.”

“People move here for the peace of mind associated with The Cypress lifestyle,” Andrews said. “They have maintenance free living with the peace of mind of no surprises and health care protection. The Cypress takes care of everything. Members view their move as a smart economic decision and a way to control their monthly expenses.”

For the payment of specified monthly fees, a continuing care retirement community provides such lifestyle services as meals, housekeeping, maintenance, and medical and nursing care when needed. Because The Cypress campus is debt free, its monthly fees are very competitive and in some cases are less per month than other retirement communities in the area.