Langworthy Company

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Langworthy Company

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  • Services
  • Feasibility
  • Hotel Conversion
  • Development
  • Contact Us

Project Development

Turnkey assisted living project assistance or just 'how to' advice as needed.

Pre-Development

With sponsors of this project review core elements of developing a senior living community including

speculation of development costs and profitability potential. Aspects may address senior living product possibilities of assisted living, independent living, memory care and, if applicable, skilled nursing. “What if” scenarios may be outlined for construction and startup costs. Additional dialogue may outline required staffing patterns, financial proforma preparation information, architect selection process and interior decorator.

Market Feasibility Study

Early in the project evaluation stage a market feasibility study determines “if” there is support for a senior living community. How many new apartments? What rents can seniors afford? Are senior populations forecast to grow and do these seniors live nearby? Do market penetration rates support the project? GO / NO GO project decisions are made.  A preliminary proforma can be developed.

Architectural Design

A preliminary or comprehensive market feasibility study is presented to an architect to review analysts recommendations. If needed, we can participate in selection of the architectural and/or provide design dialogue based on the market study conclusions and our personal

experience as operators. Creating the appropriate housing types, mix of units, sizes and amenities to achieve market differentiating and competitive advantage. Efficient floor plan can reduce labor costs while enhancing delivery of services. At this point, a preliminary proforma can be assembled for a high-level assessment of possible financial results for this project.

Comprehensive Market Feasibility Study

A thorough on-site evaluation using primary and secondary research of the market, competitors, senior service provides and interviews with leaders in the area. This in-depth study recommends percentage of independent, assisted living and memory care units. Mix of units. Sizes. Amenities. Competitive evaluations including product viability and their management capability. This higher reliability analysis is important for selecting optimum architectural and interior designs. Programming and care services. From this analysis a more intrinsic proforma is developed with suggested rental rates, labor, operating costs and RO / cash flow and can included  DSCR and working capital needs lenders require.

Proforma

This financial instrument outlines operational, debt service and cash flow expectations for the project. Both architect and sponsors, use market study and personal operational data to develop the proforma.

Design Liaison / Management Team Liaison

We can assist with the selection of an architect and operator of this facility, if needed. Then work closely with an architect to formalize appropriate seniors housing floor plans and elevations. 

Financing

We have sources for traditional, bond and HUD lenders for financially qualified sponsors. 

Sponsors Adviser

For new entrants into seniors housing, we can remain an adviser and/or the sponsors representative during construction, pre-opening sales and through lease-up / stabilized occupancy. 

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