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During the past decade, assisted living has become one of the nation’s fastest growing industries.
This has created a need for specialized expertise in meeting the challenges that accompany rapid expansion.
LifeServices Development Corporation has the resources and that specialized expertise to assist you in meeting all the
various challenges that can arise in this emerging field. We provide planning, development, marketing, construction and management services that ensure the result for our clients will be a quality facility
that meets the needs of both resident and owner.
It all starts with a market analysis
 The first step in the development
process is to determine project feasibility. Our work begins with a market analysis to determine the project’s potential. We research the local demographics using the latest
formulas created through our direct experience in assisted living. The real estate and regulatory environment is analyzed and the competition inventoried through field visits.
Our final market analysis includes:
- Characteristics of the overall market area
- Definition of the primary and secondary market areas
- Current projected growth of the age qualified and income qualified elderly
- Comprehensive analysis of existing and proposed competitive facilities and services
- Regulatory review
- Penetration requirements assuming various volumes of units and pricing schedules
Next comes financial and program analysis
 If the market analysis is positive, a financial
and program analysis is undertaken to determine the feasibility of the project under various financing alternatives.
When we have the results of both the market and the financial analyses in hand, we make
a clear recommendation on further project development in the form of a Development Plan.
This Development Plan includes:
- Project definition
- Recommended target market
- Proposed pricing structure
- Proposed resident service package
- Financing alternatives
- Projected sources and uses of funds
- Recommended capital budget
- Operating assumptions
- Operating pro forma
- Sensitivity analysis
- Project schedule
Then Site Acquisition and Approvals
 The next challenge LifeServices assumes for
its clients is the identification of a suitable location, a critical key to success.
LifeServices will:
- Define the most appropriate geographic area fo the facility’s location
- Generate an inventory of potential sites
- Conduct an evaluation of each proposed location and site(s) and provide a recommendation
- Acquire the selected site
- Gain all necessary governmental and regulatory approvals
Full facility design and construction services
 Once a target market is identified, the
financial viability of a project determined, and the site is aquired, we undertake all tasks necessary to put the building and programs into service.
A partial listing of these responsibilities includes:
- Selecting the architect
- Coordinating the “design-build” process
- Arranging the project financing
- Managing all project budgets and projections
- Delivering a guaranteed construction price
- Constructing the project on time and on budget
- Obtaining the certificate of occupancy
Experienced resident marketing maximizes occupancy
Professionals in the field of assisted living know that identifying
and obtaining qualified residents on a specific schedule is critical to the facility’s success. Our marketing team assures that the resident program and related schedule of fees are
communicated clearly to potential residents.
Our marketing services include:
- Development of marketing budget
- Recruitment and training of qualified sales professionals
- Development of a resident lead tracking system
- Development of an ongoing marketing and media campaign
- Qualifying residents
- Taking deposits from potential residents
- Coordinating move-in procedures
True full service management
Our management services team works closely with the development team to assure that the space planning and
operating assumptions for a community will meet the requirements of the residents’ program. Once the facility nears completion, our management services team can assume
leadership of the project. Operations management responsibilities include:
- Developing protocols for resident service and care
- Establishing operating policies and procedures
- Developing operating budgets
- Implementing start-up of operations
- Establishing equipment inventories
- Hiring and training staff
- Implementing accounting systems
- Developing internal management reporting systems
- Managing the facility to stabilized occupancy
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