We thank you for visiting the Open Circle Communities web site as you are thinking about where you may want to live in the future. Many of you have inquired about the status of the first Open Circle community and we want to give you an update and our projected timeline.
In the summer of 2008, Open Circle Communities had a wonderful 28 acres under contract in Milton, Delaware. We were working with architects and making our way through the planning and zoning process, making presentations to investors and talking with potential homebuyers.
And then the economy in our country took a serious turn, most of which initially revolved around real estate development and home-building. Open Circle Communities was profoundly affected by this market downswing. We engaged in serious conversations with many advisors about how to make good business decisions in challenging financial times.
It is now almost a year after the financial crisis began and individual investors and financial institutions are still not funding new projects and the market for selling and buying homes continues to be extremely tentative. Individuals are still reeling from the damage done to their personal portfolios and many tell us they are delaying their timetable for retirement.
Given this unstable economic environment we adjusted our business plans and released our hold on the land in Milton. What this means in practical terms is we have put Open Circle Communities in a “holding pattern” until the financial markets are stabilized. Our best prediction is that development will resume in 2012.
We remain committed to building a 55+ LGBT community in the Rehoboth Beach area and, when the time is right, we will find another site. For now, we continue to promote the idea of LGBT specific communities and continue to build a list of people who may be interested in living in an Open Circle community.
Open Circle Communities mission is enduring and the need for vibrant, safe, and loving communities for LGBT individuals is strong. As the economy rebounds we will move forward.
We thank you for your interest in this unique project and we welcome your thoughts.
Susan Hester and Sandy Douglass
PS: We have included the link to an article from the July issue of PROVIDER magazine, the national publication of The American Healthcare Association and The National Center for Assisted Living, in which Open Circle co-founder Sandy Douglass is interviewed. Once again, she makes the case for the need for LGBT communities. Here is the link http://www.ahcancal.org/News/publication/Provider/CoverJul2009.pdf. Let us know what you think.