Development consultants help CCRC open new independent living housing on budget and schedule
For the past 12 years, CHI Living Communities has relied on Plante Moran Living Forward’s development consultants to help plan and manage capital projects at Madonna Manor, a leading faith-based CCRC in Kentucky.
A new phase: Evolving offerings to fit the needs of seniors
Madonna Manor is a leading faith-based continuing care retirement community (CCRC) in Villa Hills, Kentucky, offering independent living, assisted living, dementia care, and skilled nursing care facilities. Madonna Manor, which is part of CHI Living Communities, has relied on Plante Moran Living Forward’s development consultants to help plan and manage design and construction on its campus for the past 12 years.
After successfully repositioning all of its healthcare services to meet market need, Madonna Manor once again engaged Plante Moran Living Forward (PMLF) as their development consultant to guide the next phase of the repositioning master plan: expanding its independent living housing options.
The solution: Managing the intricacies of construction
To begin the planning process, PMLF conducted a thorough financial analysis to determine how the independent living expansion would best pencil out. The client decided to move forward with constructing new two-story brownstone apartment buildings with underground parking and duplexes, to be built in three phases over five years.
With the concept pro forma completed, cash flow optimized, and construction scope and schedule roughed out, PMLF oversaw the Phase I project through to completion. Our scope of services included managing the bidding and selection of architects and construction managers, overseeing design, construction project management, budget and schedule reconciliations, furniture and technology procurement, and project closeout.
The benefit: Phase I completes on budget and schedule
Phase I of the projects, totaling $13.5 million in construction, is now nearing completion. It is both on schedule and on budget. This phase featured a new, 50,000 SF brownstone apartment building with 12 units per floor over underground parking. Every apartment has a balcony overlooking either a view of the Ohio River or park-like setting of the campus’s ponds and green areas. Five duplexes are also nearing completion; they range in size from about 1,300 to 1,800 SF. Many of the brownstone apartments have residents enjoying their new home and the first duplex resident is scheduled to move in during the spring of 2020.