Entitlement for assisted living property

[Derek Bell]

Has anyone had any experience in the assisted living/nursing home complex type of developments?

I have 12 acres in middle tn that I am working on entitlement with the city. Front 4 acres is zoned commercial, rear 8 acres is zoned large lot residential. I am parceling out the front acreage into (3) one acre commercial lots. The back 8 acres I was leaning towards townhomes, but I don’t think the city wants to see any additional townhomes. I am thinking a rezone to a commercial mixed use. I do know the city would like to see assisted living type property. So, for my proforma, how much does a developer or  assisted living company pay for entitled land in this type of space? Ground lease? Fee simple purchase?