LARGE Retail-Conversion to Assisted/Independent Living - Not for the Faint-at-Heart

[Christina Carey]

So, I have this killer idea that struck me about a week ago. There's this large mostly vacant retail space, with a parking garage plus plentiful other parking, in a fantastic location. I've passed by it a million times, and it suddenly hit me that the highest & best use for this property is a combination of assisted and independent living units, combined with related retail, office, service, and food/entertainment businesses. Like a town within a town

I suspect that once I approach the owner that they'll be open to carry some, if not all, of the financing. Only issue I have is time - project management is up my alley for sure, but with the large scope of the project, a few heads are certainly better than one.

If you're experienced (and serious, of course) and a project like this makes you drool or excites you like a kid at Christmas - send me a colleague request!

[Lydia Ford]

Hi Christina!! I actually worked in a CRCC for several years in Florida.  I'm not sure of the state laws as it applies to Ohio, but Florida law regulates how closely together ALFs can be found in proximity to each other.  Also there are a lot of rules and governances...mostly for the ALF side.  I'm sure it can be a great investment when everything is said and done.  Just be sure to check your state laws before tackling the project!

Best~

Lydia