A team of feasibility experts to help senior care providers move ahead on capital projects
If you’re like others in the senior living industry, you are probably wondering how to prepare for the increasing demands of the aging baby boomers. Should you think about expansion? Do you need to upgrade to meet their demands for more amenities? Where can you find money to finance your plans?
You will benefit from our experience helping clients like you find answers to questions like these. Our project development advisory team includes a feasibility study, forecasting, audits and taxes, and financial, strategic, and business planning experts. Together we’ve worked on projects totaling more than $1 billion.
The Bethany Lutheran Village feasibility study
To honor their mission and vision of providing an exceptional continuum of care, the directors of Graceworks Lutheran Services decided they needed to renovate and enlarge their campus at Bethany Lutheran Village.
They called us in to help them plan a project within a budget that they could afford. We conducted a feasibility study and, from the feasibility study report, we helped develop the requests for bids, and negotiated the professional service agreements, as well as monitored the project to make sure it stayed within budget and on schedule.
Managing the project for Graceworks meant that we oversaw design and construction, and tracked budget and cost validation. Read full case study.
The Wexner Heritage Village feasibility study
The management team at Wexner called in Plante & Moran when they were trying to decide the viability of building an upscale, independent living facility as part of their complex. They already had two HUD-subsidized buildings, but they weren’t serving the needs of the more affluent community.
We began by developing a financial model — looking at the big picture first to see if this project made sense. With more information, we created a feasibility study and report, and helped Wexner take both to investors for financing. The result is Creekside, an 82-apartment independent living community that pampers residents with an array of services and amenities. More than 90 percent of the units were pre-sold months before construction was complete.
Experience our proven feasibility process
To each project we bring a proven eight-phase methodology. The phases are: project planning, financial modeling, a detailed financial feasibility study and report, refining the capital project, government approval, financing, rate setting and licensure, and implementation. Depending on your needs, we can help you with all eight or just one or two.