Onancock, VA – Commonwealth Senior Living (CSL) announced today it has entered into an agreement with Pinnacle Living to purchase Hermitage Eastern Shore in Onancock. While terms of the sale were not disclosed, CSL has committed to investing $3 million in capital improvements to the senior living community, converting the skilled nursing wing into memory care and adding independent living services.
The community, which will be known as Commonwealth Senior Living at the Eastern Shore, will have the area’s first dedicated memory care neighborhood and be the only independent living provider on the shore. The Virginia-based company has successfully operated communities throughout the state for almost 17 years, including buildings in the nearby Southside, Peninsula, Middle Peninsula and Northern Neck areas.
“We understand the importance of continuing the mission Pinnacle Living has so capably carried on for more than 50 years, and we are both excited, and honored to have the opportunity to bring our passion and our expertise in caring for seniors to the Eastern Shore.” said Commonwealth Senior Living’s Chief Executive Officer, Richard Brewer. “While nursing home utilization has declined over the last 10 years, the need for more affordable options such as independent living, assisted living and memory care has grown. We are making a significant commitment to ensure those needs are met.”
“This decision came after many months of careful consideration and research into who would be a good partner to continue our mission of enriching life’s journey,” said Pinnacle Living President and CEO Christopher P. Henderson. “We are pleased with CSL’s plan to further invest in the community, the additional services and its commitment to ensuring the community will remain a resource to seniors on the Eastern Shore for the long term.”
All residents living in the community are expected to remain and will not see any increase to their base rate for at least 12 months. Those residents currently residing in nursing will be assessed in the coming weeks to ensure their needs can be met in assisted living or memory care. It is expected that those residents will see a reduction in their monthly fee once the transition to assisted living is complete. Skilled nursing services will continue to be available through local home health providers.
CSL and Pinnacle Living will work together during the transition from nursing to assisted living to determine staffing needs and any associates not retained will be offered a severance package from Pinnacle Living. It is expected there will be future opportunities to grow employment as renovations are completed and occupancy grows.
Commonwealth Senior Living will begin management of the community next month once the nursing beds are converted. The transaction is expected to be complete before the end of the year with construction starting shortly thereafter.