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Continuing Care Retirement Community Development
- A builder of large scale residential communities in the southeastern US owned various properties it thought would be well suited to senior living and wanted to consider becoming a senior living developer and engaged Senior Consulting to conduct a Senior Living Feasibility Study.
- Initially Senior Consulting conducted a Senior Living Feasibility Study, including Assisted Living, Independent Living and Continuing Care Retirement Communities, which resulted in positive recommendations for a Continuing Care Retirement Community or a retirement community that included Independent Living, Assisted Living and Memory Care. With a site of approximately 20 acres, Assisted Living alone was not deemed to be the best value proposal for a visible site in this high income demographic location.
- After completing the Senior Living Feasibility Study, Senior Living obtained opinions on valuations of the site and conducted preliminary analysis for the best options for financing. It was determined the greatest need in the community was for the development of a Continuing Care Retirement Community with multiple underwriters interested in providing funding.
- Thereafter, Senior Consulting conducted an RFQ/RFP process was to find a marketing company, manager, underwriter for tax-exempt bonds, architect and builder, all of which were pre-qualified, in addition to negotiations on price and terms to select a team that not only would be able to successfully develop and operate the project but also be well received by investors.