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Assisted Living Development
- A residential and multifamily builder was considering senior living and initially engaged Senior Consulting to complete three senior living feasibility studies within an extended area and three distinct service areas.
- Conclusions were positive in two markets, so the client proceeded to contract to purchase a site for a memory care development in one town and an assisted living and independent living site in another very high income demographic community that is typically anti-development.
- With HUD identified as a funding source, Consulting conduct a RFQ/FRP for HUD Brokers, as well as an Assisted Living Operators, Architects and a Senior Living Builder. All were selected within several months, although later it was decided to proceed with another funding source.
- Design was completed on an approximately 100 unit Assisted Living/Memory Care combination in a multilevel, high-end facility with multiple neighborhoods approach in the design, and applications made for a 200 plus unit site to include approximately 100 units of Assisted Livingand 100 units of Independent Living, a common senior living development model. Within 16 months from the inception of an idea, all approvals were received and with a few months thereafter, construction begins.
- Based on the foregoing, the developer requested Senior Consulting to conduct five other studies in a two county region and is currently considering multiple Assisted Living and Memory Care facilities.