Property assessments help religious community plan for future capital needs
To better understand future capital needs, anticipated costs, and opportunities, the Franciscan Sisters of Little Falls needed a complete assessment of all 230,000 square feet of the buildings on their 84-acre campus in Little Falls, Minnesota.
The Franciscan Sisters of Little Falls contracted Plante Moran Cresa (PMC) to undertake the assessment and provide study results which would present the leadership team with options to consider for future planning.
PMC achieved this by combining a review of TRENDS projections, a review of community demographics, and an assessment of all buildings on the campus. This research included interviewing all present space users on campus to determine the degree and intensity of space utilization. The buildings were assessed for:
- Current condition
- Current use (wear projection)
- Operating cost
- Cost reduction opportunities
- Space planning in relation to consolidation opportunities
PMC created property and use reconfiguration models and repurposing options for the leadership team’s consideration. Where opportunities revealed themselves, PMC solicited the interest of potential space users as potential revenue streams for the religious community. PMC also provided accurate cost estimates for all forwarded options.
With our guidance, the leadership team was able to make confident decisions around future capital needs and opportunities while understanding the anticipated costs for each option.