The Hamilton in Palo Alto is a 36 unit condominiumÂ at the corner of Hamilton and Byron/Middlefield in Palo Alto that is the epitomeÂ of luxury inÂ Palo Alto retirement living. Built in 1997 it was designed to meet the needs of adults over 55 who want to stay in Palo Alto and live in downtown, but want the security and convenience of condo living.
Unlike some otherÂ Palo Alto retirement communitiesÂ The Hamilton does not offer assisted living or skilled nursing care. Â What it does offer, beside gorgeous, spacious condos, is 24 hour security 7 days a week. a car service to drive you to appointments within 10 miles of the Hamilton, pool, fitness room, common living room, common library, courtyard, coffee, tea and bisccotti in the morning, and a gourmet restaurant for dinners 5 nights a week. The meals are $10.50 a person to cover the cost of the food, and additional charges if you would like wine. There is maid service and on site handymen, but these are also charged additionally, although at very reasonable rates.
The residence age requirements are one occupant must be at least 55 years old. The second occupant must be at least 45 years old. The only exceptions to this would be if an occupant over 55 has full time help, or a disabled child living with him or her. In these cases the minimumÂ age requirement is waived.
The monthly dues are hefty, ranging from around $4000 a month to $4400 a month for one person, and $5000 a month to $5300 a month for two people. Â All utilitiesÂ except electricity are included in the dues. The reason for the high cost in thisÂ Palo Alto retirement residenceÂ is that this is a large building with only 36 owners and a huge staff. There are not a lot of owners to split the costs.
The condos are large and beautiful, rangingÂ from about 1400 sq feet to 2000 square feet which is very large forÂ retirement homes in the Silicon Valley.
Prices are going up. Last year the average price per square foot was $635 but my recentÂ listing just sold for $793 a square foot. This is a huge rise, but still not at the level of $1000 a sq foot which is common in downtown Palo Alto.
If you have any questions about what your options are forÂ retirement living in Palo AltoÂ please feel free to contact me.
Keller Williams Realty Palo Alto
Ca BRE 01191194