nichols village

What nichols village does

Nichols Village is a not-for-profit, stand-alone senior living community located on over 90 acres of woodlands and fields in Groveland, Massachusetts, situated on one of the highest hills overlooking the Merrimack River and approximately 15 minutes from the Atlantic Ocean and Plum Island. The community was established in 2004 to fulfill the estate wish of Groveland native N. Woodburn Nichols (who passed in 1925) and serves active adults aged 62 and older seeking maintenance-free independent living. The property comprises 99 apartments in Woodburn Manor (ranging 680-1,400 sq ft) and 16 country cottages (1,400-1,730 sq ft), housing 146 residents at consistently high occupancy since opening.

The community's product offering centers on bundled independent living with on-site amenities including a Main Dining Room (20 meals/month for apartment residents, 10 for cottage residents), The Tavern, a Fitness and Wellness Center with indoor heated pool, scheduled transportation, housekeeping, and 24-hour safety infrastructure (emergency pull cords, motion sensors, emergency maintenance response). Optional aging-in-place home care services are delivered through embedded partnerships with Elara Caring and Right at Home, both maintaining offices inside the building. Residents select between a Lifetime Refundable Tenancy (LRT) plan with a one-time entrance fee that is 90% refundable upon end of residency, or a Rental Plan (apartments only) with monthly rental plus common fees. Pricing is not publicly disclosed and is adjusted annually.

The business model is fundamentally recurring: monthly common fees from residents (adjusted each January 1) form the primary revenue base, supplemented by one-time LRT entrance fees and home care services coordinated on-site. GTM is sales-led direct, with a Marketing Director personally guiding prospective residents through the moving process and generating inquiries via the company website, Facebook presence, video library, and word-of-mouth referrals; there are no third-party channel partners. The community is governed by a Board of Directors working with a management company for fee adjustments, and is not affiliated with any larger corporation.

Name

nichols village

Legal name

Nichols Village

Website

https://nichols-village.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Nichols Village is a not-for-profit independent living community in Groveland, Massachusetts, serving 146 active adults aged 62+ across 99 apartments and 16 cottages on 90 acres, with bundled amenities, on-site home care partnerships, and entrance-fee or rental residency plans.

Ownership category

akta.pro rank

Headquarters

HQ city

Groveland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Monthly Common Fees: Recurring monthly fees that cover meals (20 for apartments, 10 for cottages), housekeeping, utilities, cable, maintenance, fitness center access, transportation, and more. Adjusted annually on January 1st.
2. Lifetime Refundable Tenancy (LRT) Entrance Fee: One-time entrance fee paid before residency begins. 90% refundable when residency ends. Required for LRT residency plan.
3. Monthly Rental Fees: For rental plan residents, monthly rental fee in addition to monthly common fee. An alternative to the LRT entrance fee.
4. Home Care Services: Optional home care services provided through partner agencies Elara Caring and Right at Home. Supportive care privately paid; skilled care covered by Medicare/insurance.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Nichols Village provides maintenance-free independent senior living for active adults aged 62 and older through 99 apartments (Woodburn Manor) and 16 country cottages on over 90 acres in Groveland, MA. Residents choose between a Lifetime Refundable Tenancy plan (entrance fee plus monthly common fees) or a Rental Plan (apartments only) that bundle meals, housekeeping, utilities, transportation, safety monitoring, and fitness amenities. An optional Home Care Program, delivered through on-site partner agencies Elara Caring and Right at Home, enables aging in place with supportive and skilled care.

Product overview

Nichols Village is a not-for-profit senior living community offering two distinct housing types within a single integrated community: 99 apartments at Woodburn Manor (680-1,400 sq ft) and 16 country cottages (1,400-1,730 sq ft). Both housing types provide maintenance-free, one-level living with access to shared amenities including the Main Dining Room, The Tavern, Fitness and Wellness Center with indoor pool, and optional Home Care Program. Residents choose between two residency plans: Lifetime Refundable Tenancy (with entrance fee, 90% refundable) or Rental Plan (apartments only). The community supports aging in place by offering optional supportive and skilled home care services through partner agencies.

Differentiator

Problem solved

Functional benefit

Products and services

• Apartments (Woodburn Manor) 99 one-level apartments ranging from 680 to 1,400 square feet, with one-bedroom and two-bedroom-with-den layouts, located within Woodburn Manor. Targeted at active adults 62+ who want maintenance-free living with convenient access to indoor common areas and activities without going outdoors.
• Cottages 16 country cottages of 1,400 to 1,730 square feet with two bedrooms and two bathrooms, open floor plans, three-sided fireplaces, attached garages, and private outdoor spaces. Targeted at active adults 62+ seeking a more house-like independent living option within the community.
• Main Dining Room On-site restaurant-style dining for residents, offering 20 meals per month to apartment residents and 10 meals per month to cottage residents, with menus planned and prepared by the Executive Chef.
• The Tavern at Nichols Village Casual on-site dining venue offering lighter fare and beverages for residents and their guests.
• Fitness and Wellness Center On-site fitness facility featuring an indoor heated pool and whirlpool spa, gym, fitness studio, podiatry room, and massage/Reiki room, supported by a Wellness Coordinator who facilitates programs and activities.
• Home Care Program Optional aging-in-place service offering supportive (non-medical) care such as bathing, dressing, medication reminders, meal preparation, and companion care, plus skilled (medical) care including nursing and physical, occupational, and speech therapies. Delivered via on-site partner agencies Elara Caring and Right at Home.
• Lifetime Refundable Tenancy (LRT) Residency Plan Residency contract requiring a one-time entrance fee (LRT fee) that is 90% refundable when residency ends, plus monthly common fees. Available to both apartment and cottage residents.
• Rental Plan Residency Rental-based residency option where residents pay a monthly rental fee plus monthly common fees. Available for apartments only and intended for residents who prefer not to commit to a large upfront LRT entrance fee.

Quantifiable outcome

• Residents redirect time from homeowner responsibilities to activities they want to do

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Elara CaringcoreStrategic or Co-development PartnerProfessional home care provider partnership offering optional supportive (non-medical) and skilled (medical) home care services to residents. Provides certified nursing services, physical/occupational/speech therapies, and private supportive care (bathing, dressing, medication reminders, meal preparation, companion care). Has an office right in the Nichols Village building for resident convenience. Skilled services covered by Medicare/private insurance; supportive care privately paid or covered by long-term care insurance/Veteran's Aid and Attendance.
• Right at HomecoreStrategic or Co-development PartnerProfessional home care provider partnership offering optional supportive (non-medical) and skilled (medical) home care services to residents. Has an office right in the Nichols Village building for resident convenience. Care providers are dedicated to the community contributing to consistent service and continuity of care. Residents contract directly with these organizations on an as-needed, pay-as-you-go basis.

Scale indicators6 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Brookdale Senior Living: Brookdale is the largest U.S. senior living operator with 650+ communities nationwide including independent living, assisted living, and memory care. Comparable in core service (private-pay senior independent living), but operates at vastly greater scale as a public, for-profit multi-site operator.
• Benchmark Senior Living: Benchmark Senior Living is a New England-based senior living operator with 60+ communities across the Northeast offering independent, assisted, and memory care. Comparable in serving the same New England active adult demographic, but as a large multi-site for-profit operator with broader service offerings.
• Sunrise Senior Living: Sunrise Senior Living operates 270+ communities across the U.S., Canada, and U.K., with a strong assisted living focus but also offering independent living. Comparable as a large senior living operator serving similar demographic with amenitized residential offerings, though more weighted toward assisted care than Nichols Village's independent-only model.
• Linden Ponds: Linden Ponds is a large Erickson Senior Living CCRC in Hingham, MA serving 1,300+ residents with a full continuum of care. Comparable as a Massachusetts active adult senior living community with similar natural campus setting, but operates at materially larger scale under a national operator.
• Five Star Senior Living: Five Star Senior Living operates 150+ senior living communities in 28 states, including independent living communities with bundled-service monthly fee structures. Comparable in independent living service model and New England presence, but operates at multi-site scale as a public, for-profit operator.
• Atria Senior Living: Atria Senior Living operates 200+ senior living communities across the U.S. and Canada, including independent and assisted living options. Comparable in serving active older adults with similar amenitized apartment-style living, but as a large national for-profit operator rather than a single-site nonprofit.
• Brooksby Village: Brooksby Village is a large Erickson Senior Living CCRC in Peabody, MA offering independent living, assisted living, and skilled nursing. Comparable as a Massachusetts senior living community serving active adults, but at much larger scale and operated by a national for-profit CCRC operator.

Direct peers

• Fox Hill Village: Fox Hill Village is a nonprofit independent living community in Westwood, MA serving ~320 residents on a large natural campus. Highly comparable in model (nonprofit, private-pay, maintenance-free IL with active lifestyle programming) and geography, making it the closest peer to Nichols Village's scale and positioning.
• NewBridge on the Charles: NewBridge on the Charles is a CCRC in Dedham, MA operated by Hebrew SeniorLife, offering independent living, assisted living, and skilled nursing on a large natural campus. Comparable as a Massachusetts nonprofit senior living community with a continuum-of-care approach that includes independent living as the entry point.
• Kaplan Estates: Kaplan Estates is a nonprofit independent living community in Peabody, MA on a wooded campus, affiliated with the Jewish Community Center. Highly comparable as a smaller nonprofit MA independent living community with similar setting, target demographic (active adults 62+), and bundled-service pricing model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/nichols-village

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about nichols village