Defining a strategy for development of a senior living community begins with the completion of a new campus Business and Development Plan (the “Plan”). The time spent planning for a new community is invaluable and will save considerable time and money in the long run by completing careful planning. The Plan is a comprehensive document that includes a market analysis, definition of a resident pricing and programs, financial analysis, construction and development analysis, marketing plan, regulatory overview, pre-construction budget, financing plan and understanding of key risks and risk mitigation strategies. The Plan is not completed in a vacuum and significant input is obtained from the client, capital markets, state regulatory authorities, planning and zoning departments, area competitors, and others. The Plan identifies the resources required to make a new project a success and serves as your guide to project implementation.
Development and Construction Management
McFarlin Group has the ability to coordinate the implementation of a Business and Development Plan (defined above) by providing development consulting and project coordination services. We have experience solving development problems. Development services includes the following:
Market Analysis (Market Feasibility Studies)
Whether you are developing a new senior living community or trying to analyze your existing pricing relative to your competition, conducting a market analysis is the first step in determining if there is a need for additional units and how senior’s needs are currently being served in your market area. Market analyses include:
McFarlin Group has the experience and knowledge base to analyze market opportunities including senior population size, growth, and economic characteristics. To insure a community’s success, a project must be sized and priced to meet the needs of area seniors; this means a project must be market-driven.
Financial Analysis (Financial Feasibility Analysis)
Financial analysis is key to understanding the viability of a new campus, campus expansion or long-term campus strategic plan. Financial analysis includes estimating project budget costs, operating budget, projected cash flow, financing plan and key financial indicators. Our people have the experience and knowledge base to analyze and quickly refine the economic parameters of a project based on achievable financing costs and various ownership structures.