Over the next five years, we are developing 10 turnkey senior living communities that provide Independent Living, Assisted Living and Memory Care at below-market rates. Planned as 55,000 square feet, one- or two-floor options on four- to six-acre lots, these communities will be purposely designed for efficiency and value, but not low income. Each features 14-96 beds (all private rooms) and amenity spaces. Construction costs will be $5 million less than traditional models. Investors will see up to a 42% net operating return with 35% of net revenue dedicated to staff salary and benefits.
Each individual household in the community (six total) will feature its own kitchen, replacing the need for kitchenettes in suites – saving on costs. Residents will have the freedom to eat where and when they want – an attractive selling benefit. Dining venues, in addition to household kitchens, include a bistro, café and clubhouse.
While ELEVATE Senior Living communities are designed with efficiency, we didn’t overlook amenities that attract and retain residents. Every community offers a library, theater, wellness program, salon, game room and medical room. Exterior amenities include a rooftop garden and patio, bocce ball court, outdoor living and dining spaces, and a courtyard.
