Consulting Services

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Development Planning

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:

Site identification, rezoning and entitlement coordination and due diligence processing
Coordination of the project team (marketing staff, architect, contractor, engineers and financing team)
Identify, interview and coordinate selection of development team members
Interface with the design team to ensure architectural goals are met and the project maintains within scope and budget parameters
Securing regulatory approvals including certificate of need
Coordinate the marketing function
Secure project equity and debt financing
Construction contract negotiation
Monitor and manage all construction activities
Monitor project and construction budgets with variances
Be a catalyst for consistent and frequent team communication
Incorporate green and LEED elements as frequently as possible while maintaining to budget and project schedule

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:

Defining the geographic region from which the elderly will originate to fill a Community (a primary market area or “PMA”) which is determined by understanding natural and manmade barriers such as rivers, freeways, railroads, major arteries, or a marked difference in the socioeconomic makeup of a neighborhood or area
Estimating the current senior population and households and projected growth within the defined PMA
Evaluating the economic characteristics of elderly households within the defined PMA including an analysis of real estate sales data in the PMA
Preparing and evaluating a dot density map indicating the concentrations of financially qualified households within the PMA
Assessing the existing and proposed competitive communities in and around the PMA
Assessing market demand to absorb current and/or future units through market penetration analysis

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.