Typical senior living housing includes a variety of apartment types including apartments with kitchens, dining area, den, multiple bedrooms and balcony. These are often referred to as age-restricted apartments for the age 55+ marketplace. However, seniors housing - independent living, assisted living and memory care in a congregate setting - senior living apartments and independent living for seniors have similarities to a hotel. Units are usually studio and 1-bedroom apartments. Meals and housekeeping are included in rents. Socialization and activities are offered in one or more common areas. With assisted living there is a care component. Conversion to seniors housing is possible.
WHERE TO BEGIN?
Does local zoning and planning appear cooperative for seniors housing as an alternative use? Do you have or is constructing a commercial kitchen possible? Modest areas that can be repurposed for socialization and activities? Before spending thousands on architectural design, an important question must be answered. Does the hotel's location indicate sufficient new apartment demand for 1 or more types of seniors housing? There potential viability is determined by a market study.
Call us without obligation. Or send an Email. Ask for our Hotel Conversion brochure with general information. As an owner - operator, feasibility consultant and a developer, we can assist with just general advice or develop the entire project. Concept to market feasibility study. Proforma for lenders and investors. Assemble a management team. Find an operator if needed. Assist with locating financing sources.
The evaluation of a hotel conversion to seniors housing is similar to a new purpose-built seniors housing community. At some point an architect is needed to discuss code upgrades if a market study indicates good demand for assisted living or memory apartments. Yet an architect or GC is guided by design and upgrade requirements based on results of a market study. If this is your first venture into seniors housing and experienced operator - such as Langworthy Company - or others is recommended. Find out more. Click on the link below.