open concept living room and dining room with city view

Senior living industry experts are hoping to attract a new market of wealthy older adults with the launch this week of a new, membership-based model focused on personalization and wellness.

Appanage opened its first two residences this week in New York, with plans to expand its portfolio throughout the state and into several other major U.S. markets by the end of the year, according to the firm.

The model offers members fully furnished one-, two- or three-bedroom residences in luxury, mainstream apartment buildings, dedicated wellness experts and multi-faceted wellness programming to encourage social interaction, Appanage co-founder Daniel Stern said.  

“Today’s senior living options do not address the personal wellness needs and preferences of the aging baby boomer population – whether they are 55 years old and downsizing or 85 and wanting to avoid institutional housing,” Stern told McKnight’s Business Daily. “I have personally seen family and friends struggle to find the right living solution to enjoy what ought to be their best years, and this is what brought us to launch Appanage.”

Members can choose to live in one location or move between Appanage destinations across the country as the portfolio expands. The model’s overlay of wellness and a social platform is designed to help residents build a community of friends and neighbors to further enrich daily living experiences, said Eliot Listman, co-founder of Appanage.

“Appanage offers state-of-the-art personalized living and wellness experiences for every aspect of daily life to proactively improve a person’s living experience as they age,” he said. “Appanage’s innovative approach to wellness-oriented living offers members the ability to live actively and independently in mainstream communities with a vibrant living experience. It successfully weaves together intergenerational settings, diverse on-line and in-person programming and personalized wellness experts to provide a new way of engaged living for aging individuals. By design, Appanage ensures that its members will never be alone but will be able to live on their own terms.”

Pricing starts at approximately $5,300 a month for a one-bedroom residence, Appanage reported.