Senior Housing Feasibility and Facilities 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.

Real Estate Advisory Services - Senior housing consultants

Richmond Senior Village – Project Feasibility

01.01.2019 Highest-and-Best-Use, Opportunity Zone Consultants, Real Estate Advisory Services -, Senior Housing Feasibility and Facilities Consultants

Confidential Client | Project feasibility evaluation in progress; involves redevelopment (regeneration) of now demolished facilities. Project site in the greater Richmond (Virginia) area.

Work includes evaluation of highest-and-best development opportunities for the site, with detailed evaluations of specific land uses. A continuum of care concept for seniors is part of concept testing, along with specific categories of the continuum including free and independent living, assisted living for seniors, skilled nursing facilities, and the like. Non senior land uses are also in evaluation.

Work as opportunity zone consultants also includes entitlements, zoning and permitting review, capital budgeting, operating projections, and project risk assessment.

Burton Station Urban Village

19.08.2018 Master Planned Community Developments, Master Planner, Opportunity Zone Consultants, Placemaking Consultants and Designers, Rapid Prototyping, Real Estate Consultants, Senior Housing Feasibility and Facilities Consultants

As real estate consultants for project feasibility, StoneCreek Partners provided feasibility analysis, a conceptual site plan and rapid-prototyping massing study, and business plan for proposed mixed-use urban village to be developed on infill properties in Virginia Beach, Virginia. Components of the urban village to include office space, main street retail, hotel, senior living, and for-sale housing.

In addition to the subject Project, the neighborhood in which the Project is situated continues to be a major focus for redevelopment and regeneration, for developments featuring for-sale housing, apartments, and shopping facilities. One of the more recent developments in the neighborhood is Norfolk Premium Outlets, a Simon Property development which opened in June 2017. A new regional IKEA store is now in development in close proximity, further enhancing the regional retail draw of the Project’s immediate neighborhood.

The Project site is well situated within the Hampton Roads region, just off the Hampton Road Beltway (Interstate 64). The Hampton Road Beltway is the primary transportation route through the Hampton Roads region. Hampton Roads refers to the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area, which includes the cities of Virginia Beach, Norfolk, Chesapeake, Hampton, Newport News, Portsmouth, Suffolk, Poquoson, and Williamsburg. The resident population of the Virginia Beach-Norfolk-Newport News, VA-NC metropolitan area ranks among the top 50 metropolitan areas of the U.S.

StoneCreek Project Experience - senior housing consultants

Pasadena Highlands Senior Housing

18.08.2018 Real Estate Advisory Services -, Senior Housing Feasibility and Facilities Consultants

Market and financial feasibility study to support a 3rd-party appraisal report. The senior community’s amenities include a library, arts and crafts room, theater, beauty shop, and a gated parking garage.

At the time of our work the facility was known as Sierra Bonita Tower. Many years after our work was completed, this facility became a WellQuest Senior Living Community. Located in Pasadena, California. This project work completed by an SCP professional while with a predecessor firm.