Assisted living development experience

[Henry Clark]

Our state mental facility is closing after 150 years.  Attended some input meetings.  The state plans to have a single developer take the project over. There are about 80 buildings.  From duplexes, group homes, school, admin buildings and dormitories.  

Think of an old well kept college campus.

Our town is 5,500 people and they plan for this development to house 2,100 new people.  Without getting too deep, I don’t like this idea due to sewer, water, school capacity and tax rates.  

One of the solutions I want to run numbers buying the hospital and converting to Assisted Living.  

Would like to discuss conversion of hospital to assisted living.  More concerned about the personnel side of the discussion than the physical retro fit.  

[Ronald Rohde]

Yep, former GC for an assisted living and memory care operator. We developed and owned our dirt, but the business management side is intense. Your payroll will bleed negative and its hard to scale staffing based on demand. Its very much a hands on operational business with significant regulatory compliance, no insurance coverage.

What rates can you charge in this market?