Establishing a senior living community is currently one of the most lucrative opportunities within the U.S. real estate market. This is thanks to rising demand in many states. Besides, many families are now looking for communities that provide more facilities and services that are currently unavailable in most existing facilities.
Griffin Living is a company with a vision to change the face of assisted living in the country. So far, we have developed several communities in California and Georgia, and we’re working on several others. So, if you’re looking for a real estate developer for assisted living facilities with the right credentials, we are the right company for you.
5 Tips for Choosing a Real Estate Developer for Assisted Living
Here are five tips to help you find the right assisted living real estate developer to oversee your project:
- Check their Portfolio
Before getting into a partnership with any senior housing developer, check their portfolio. This will give you an idea of the kinds of projects that they have completed, and allow you to determine if their design or business model suits your interests.
- Consider their Expertise
Not every real estate developer has experience in building assisted living communities. If you’re looking for a senior living builder, go for a company that has already worked on similar projects. Such a developer will be familiar with the unique building demands in such a market, giving you an edge over your competitors.
- Examine Community Partnerships
One of the hurdles that developers have to overcome before starting any project is getting the community’s approval. As such, find out if the developer you’re considering has a good record of persuading local communities to allow construction of new facilities in their neighborhood.
Griffin Living is especially good at this, as we have been able to get reluctant communities on board. Since we’re offering senior living development that pays attention to details that have been overlooked for long in the industry, it’s easy for locals to see why our projects can be useful to the residents.
- Determine their Potential as Investment Partners
Besides their ability to handle the project, you should look into their potential as investment partners. Find out how their current properties are performing in the market to give you an idea of what to expect once you begin working with them. This is also a good time to look at the capital partnerships they have, as this can be beneficial when you need funding.
- Make Comparisons
What does the developer have to offer that differentiates them from others in the market? Compare various senior real estate development firms before settling on one to ensure that you partner with the best developer.
Real Estate Leaders at Your Service
Griffin Living has its headquarters in California, but we have ongoing projects in various locations throughout the country. Therefore, wherever you are, we’re ready to work with you to develop the next top senior living facility in your location. Check out our existing communities to see what we’ve built so far. For more information on how we can be your real estate developer for assisted living, get in touch with us today.Real Estate Developer Assisted Living