Project Feasibility Consultants Archives

Senior Housing Occupancy Increases - Feasibility and Due Diligence Consultants - Rendering of Marina Plaza senior housing facility

Senior Housing Occupancy Increased in 4th Quarter

Senior housing occupancy increased in the U.S., in the 4th Quarter of 2022, according to data from the National Investment Center for Seniors Housing & Care. The national occupancy rate for 4th quarter 2022 for private-pay seniors housing reached 83.0%, from 82.1% percent in the third quarter.

Since the second quarter of 2021, the occupancy rate has recovered from a post-Pandemic low of 77.8%. The seniors housing occupancy rate increased for the sixth consecutive quarter due to continued strong demand that has exceeded new senior inventory growth. Because new inventory has been added during the pandemic, however, the occupancy rate has not yet reached pre-pandemic levels, according to the NIC.

Industry observers, developers and senior living & care consultants have experienced increased challenges with new project feasibility, in the post-Pandemic period. The senior housing asset class was significantly impacted by the Pandemic, but the industry was already suffering prior to Covid-19’s impacts. But the continued recovery has many real estate investors looking to add private-pay senior housing to their portfolios in coming years. According to JLL, Primary and Sun Belt markets are experiencing the highest concentration of new senior construction.

The NIC senior housing occupancy data is for private-pay seniors housing, and includes independent living, assisted living and memory care facilities for seniors. The NIC refers to this data as their NIC MAP Vision data product. The National Investment Center for Seniors Housing & Care (NIC) is an Annapolis-based nonprofit firm that tracks industry data from 31 U.S. metropolitan markets.

For more information about nationwide senior housing occupancies at private-pay facilities, visit the NIC here.

happy holidays from The Adventure Entertainment Cos.

Adventure Entertainment Cos. has new website.

The Adventure Entertainment Cos., an affiliate of StoneCreek Partners (“SCP”), has launched a new website at AEC Creative – in Beta form. Some of the client experience and specific projects that have been listed here along with SCP experience will be moved over to AEC Creative.

The Adventure Entertainment Cos. (AEC) is a conceptual design and project implementation company, focused on themed attractions, location-based entertainment, and outdoor recreation. AEC regularly collaborates with StoneCreek Partners during the project feasibility and conceptual design stages of client assignments, providing early “previsualization” of potential site organization, project massing and relative scale, and exploration of guest scripting and experience.

AEC has also established ventures with 3rd-party organizations for the operation of niche destination facilities in outdoor recreation (GoBOLD Adventures), creative campuses (Monumental Studios), and living stories (StagePlex). These new ventures are led by highly-experienced professionals in these industries, including Paul Bierman-Lytle, Justin Zoladz, and Robert “Bob” Johnson, among others. The purpose of Adventure Entertainment Cos. having a new website, is to prepare for more direct-to-consumer communications about these coming destination facilities. The Adventure Entertainment Cos. is committed to the creation of destination experiences for major project as well as smaller intra-regional locations, that combine the outdoor recreation, extreme sport, themed, and location-based entertainment industries.

The EB-5 Program is Reauthorized

11.03.2022 all Real Estate Industry News, EB-5 Project Feasibility Consultants, Economic Development Consultants, Economic Development Growth Monitor, Industrial and logistics real estate consultants, News about acquisitions and financing, News about economic development, News about local government real estate, Office and Industrial Facilities Consultants, Opportunity Zone Consultants, Project Consultants for North America, Project Consultants for Tribes and First, Project Feasibility Consultants, Public Sector Work, Real Estate Consultants, StoneCreek Partners News and Research, Tourism Destination Strategy Consultants

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027. The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021. The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible. The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency. With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation. The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures. Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications. The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas, and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas. These changed minimum investments apply to both regional center and direct EB-5 investments.

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

Strategic Marketing Consultants - project feasibility consultants

Sierra Crossing Mixed-Use District

01.09.2019 Experience with C-Store Fueling Stations, Malls and Shopping Center Consultants, Project Feasibility Consultants, Strategic Marketing Consultants

The Allen Group | Project feasibility evaluation including tenant mix, leasing, and anchor tenant strategies for this potential mixed-use district planned for Bakersfield, California. Work including consideration of project naming convention and selection of project name. Also provided retailer presence grid and analysis for retailers in the region, and those that were not.

Work included collaboration with owner’s team and project architect on land planning issues for a mixed-use program of power center, lifestyle center, and general-purpose for-lease office buildings.

Feasibility Study for Hotel Project

01.09.2019 Hotel Development Consultants, Project Feasibility Consultants

Feasibility study for hotel project at LAX in Los Angeles, including market analysis, a relative order-of-magnitude (“ROM”) capital budget, facilities recommendations, and financial projections. Our financial projections included several scenarios to estimate varying potential operating results depending upon the build-out and facilities enhancement program at Los Angeles International Airport.

As hotel development consultants we provided a project feasibility report, including market analysis with financial projections, facility recommendations, and hotel franchise affiliation recommendations, for this (then) planned commercial hotel situated along Century Boulevard at the Los Angeles International (LAX) Airport.

The facility was eventually designed for 747 guest rooms within a 12-floor building envelope. An interesting aspect of the hotel feasibility analysis was identifying the facilities and amenities to attract business travelers to stay in the airport area rather than the extensive overnight accommodations available throughout Los Angeles.

Our work was prepared for Watt High-Rise, Inc., then an operating division of the Watt Companies. Inc. headquartered in Santa Monica, California. Watt Companies has developed a diversified portfolio of real estate properties, including commercial real estate, hotels, and master-planned communities.

The property opened as a Stouffer Hotel and was later re-flagged as The Westin Los Angeles Airport. Our work as development feasibility consultants in preparing the project feasibility study for this hotel project, was completed prior to the branding change from Stouffer branding to Westin.