Virginia Baptist Homes Inc. is proud to be a ministry of Virginia Baptists and to have assisted thousands of seniors in housing and healthcare over the past 60 years under the umbrella of the Baptist General Association of Virginia.
The board of Virginia Baptist Homes has led the organization in a thoughtful and deliberate expansion of our mission. From humble beginnings in Culpeper, we now have properties in Newport News, Richmond and the Roanoke Valley.
Our latest community, The Glebe, is located just outside Roanoke. In three years, The Glebe has achieved an occupancy level of 70 percent, with more than 200 seniors enjoying a fulfilling lifestyle. However, we have fallen short of our projections, creating a challenging financial situation during this difficult real estate and credit market. We are paying our bills for daily operations on time, but find it necessary to negotiate with lenders on a plan to allow us to delay making principal payments on the bonds used for financing The Glebe. All interest payments have been paid on the bonds.
Residents of The Glebe understand the situation and have joined with us in expressing confidence that we soon will refinance the debt and move forward to increase occupancy. The Glebe is a wonderful community of teachers, secretaries, farmers, ministers and others who were leaders in their various communities and have come together to enjoy a unique Christian lifestyle.
The board of trustees of The Glebe and Virginia Baptist Homes fully supports The Glebe and is making the positive resolution of this situation its number one priority. Virginia Baptist Homes, as an agency of the Baptist General Association, operates these four communities. However, The Glebe is solely responsible for its own indebtedness. We ask for your prayers.
Randall R. Robinson, President, Virginia Baptist Homes