Senior Living Real Estate Services
At Plante Moran CRESA, we will provide your organization unbiased capital project development advice and advocacy from real estate planning through implementation. Our real estate and program management advisory teams specialize in helping senior care providers seek out the most advantageous approach – whether to renovate, build new, or a combination, for each specific situation. We can then help you through project execution as your development advisor and advocate. We provide sound financial and management advice. We can assist you to ensure that projects are planned and executed according to your organization’s goals and expectations.
By teaming with our colleagues at Plante Moran, PLLC, we can provide detailed operational [financial] modeling, debt capacity analyses, senior health clinical operations evaluations, and Medicare/Medicaid reimbursement studies.
The benefits you receive from our team:
+ Strategic real estate and development planning
+ Unbiased advocates to guide you through your project
+ Extensive proven experience in assisting religious institute and non-profit organizations
+ Real estate and development risk assessment and management
+ Established processes based on the design and construction industry’s best practices
+ Dedicated industry experts to help you succeed
+ Best and efficient use of your time and resources
+ Predictable outcomes
Our services include:
Project Feasibility Studies
Whether you are a for-profit developer or a mission-driven not-for-profit organization, deciding to undertake a senior living development is a big decision that requires careful up front analysis and planning. Plante Moran CRESA helps clients align their priorities with the market to anticipate demand and craft the best product. Understanding the payer mix, appropriate level and mix of services, and competitive landscape allows our clients to develop the right type of senior living product, in the right location, and at the right time. Plante Moran CRESA helps clients understand both the market demand and revenue potential for senior living projects to ensure that project costs align with future cash flows in a manner that meets their objectives.
Facility Assessment Studies
As senior living facilities age and the type of facility demanded by the market continues to shift, it is imperative to continually monitor your facility’s condition and level of service. Does your facility need to be replaced? Are there deferred maintenance items that can be addressed to reduce costs? Will reconfiguring the way your facility is used increase occupancy and revenues? Plante Moran CRESA’s facility assessment team helps clients answer these questions through detailed facility assessments conducted by our team of expert architects, engineers, and facility managers, all of whom have deep experience in each area of the senior living continuum. Careful assessment of your senior living portfolio by Plante Moran CRESA will help you reduce costs and increase revenue, and helps mission-driven organizations more adequately accomplish their goals and serve their community.
Site Selection
Identifying the optimal location for a senior living facility is one of the most crucial elements of project planning. Plante Moran CRESA assists clients in analyzing market demand, area demographics, traffic patterns, accessibility, zoning ordinances, and other key site considerations that drive the success of a project from the beginning. Our team of experts will provide a comprehensive market survey of site alternatives to identify a short list of options, minimize risk by analyzing important site characteristics and restrictions, and drive value by leveraging the marketplace to reduce cost. Plante Moran CRESA’s site selection team will help ensure the success of your senior living project from the start.
Program Development/Cost Benchmarking
Depending upon the goals of your organization, the way you structure your senior living program and cost structure can be very different. Plante Moran CRESA assists clients in understanding the optimal mix of uses and services, while also providing detailed industry benchmarks for cost to ensure that a project is being constructed in a competitive fashion within the marketplace.
Project Management
Once you have planned, programmed, and benchmarked your senior living project, you have to build it. While some senior living developers possess the in-house expertise and allocated resources to manage this process internally, others do not. Plante Moran CRESA’s team of experienced senior living project managers is comprised of experienced architects, engineers, and construction managers. Leveraging our resources to help construct senior living facilities allows our clients to focus on their core mission, and to rest assured that their interests are represented throughout from pre-construction through occupancy. Plante Moran CRESA serves as an “internal” resource to our clients to ensure that senior living construction projects stay on schedule, within budget, and are managed efficiently and effectively.
