1. Site Evaluation
a. Location compared to market prospects
b. Size considerations
c. Conducive for active retirement
d. Zoning, restrictions, environmental matters
e. Future growth projections and migration
2. Market Assessment
a. Depth of age and income qualified households
b. Analysis of competition
c. Home value comparisons
d. Projected population growth
e. Conduct focus group studies and consumer research
3. Project Planning
a. Site plan
b. Project scheduling
c. Density and unit mix
d. Recreational space – identify activities/functions desired by market and integrate into site plan
e. Common area design
f. Residential unit plan design
g. Capital cost projections and sources/uses
h. Initial financing assumptions and options
i. Recommend service package and contract terms for the community with consideration to competition, comparable facilities
j. Operating costs and revenues – realistic projections utilizing comparable facilities actual results
k. Start up loss projections and related cash requirements during fill up
l. Initial rate setting for entry fees, service fees
m. Residency agreement form/format
n. Regulatory requirements for reserves, contract terms
o. Financial projections through development and periodic updates of actual and new projections of cash