Hotel Conversion to Assisted Living Facility Review

[Jaden Ghylin]

We are looking to convert a 60 unit hotel to assisted living and so far it looks like this property will work.  The only concern is that it is between 3 cities (Albertville, Monticello, Otsego, MN) about 5-10 minutes between each in a Suburban area of the Minneapolis metro.  The area is growing and housing developments are going up, but this hotel is definitely not "in-town".  It is on 33 acres and has a lot of features that make it attractive for assisted living including views of the Mississippi river valley, 33 acres of land with walking path, indoor pool, beautiful flower beds and landscaping.  It's a very beautiful, natural setting with deer, turkeys, birds, and butterflies on the property.    With all of that said, our concern is that it is not in a town.  Is that a deal killer for assisted living?  I'd appreciate any insights you may have.

http://www.loopnet.com/Listing/19761224/10990-95th...

Regards,

-Jaden

[Karen Margrave]

I don't know that being "in town" would be the deal killer. However; how close is the nearest hospital, fire station, etc. for emergencies? How close would doctors offices be? Would the assisted living be for people that are mobile or bed ridden? Would you provide transportation? 

I think it looks like a great property, and idea. Good luck to you.

I'm not anyone with experience in developing assisted living, but have considered it for a property I own though I'd be interested more in those for independent living, not assisted living.