Seniors (those 65 years of age and over) are the fastest growing age group in Canada. In 2016, there were 5.9 million seniors, who represented 16.9% of the total population. According to StatsCan, by 2036, the number of seniors is projected to vary between 9.9 and 10.9 million persons, representing 24% of the total population.
Housing is critical
to the quality of
life for all people.
“In order to maintain the current level of seniors housing inventory per capita, we will need to add an additional 131,000 spaces for Canadian seniors by 2026, growing to an additional 240,000 spaces by 2046. Demand is growing faster than supply.” "We're so far behind": Canada unprepared for housing needs of rising senior population CBC News · May 04, 2017.
People are living longer, but not necessarily living well. We are here to contribute to older people enjoying a better quality of life by creating better housing options for seniors.
SITE SELECTION, DUE DILIGENCE & ACQUISITION
Identify markets which align with investment objectives, target and secure appropriate sites, and navigate the land purchase process.
DEVELOPMENT MANAGEMENT
Manage the municipal approval processes (official plan amendment, rezoning, building permit) and the Ministry of Long Term Care and/or the Retirement Home Regulatory Authority.
FINANCIAL MODELLING
A successful Seniors Housing project demands a vigorous financial modelling process as its launching point. Seniors DevCo has deep experience developing Project Investment Hypotheses including full budgeting and return analytics. We vigorously test pro-forma sensitivities with a view to confidently underwriting the investment memorandum. We also assist in the process of securing capital.
BUILDING DESIGN & CONSULTANT SELECTION
The design of every project is underpinned by a clear project manifesto. Seniors DevCo works with stakeholders to identify their objectives. Designs integrate anticipated resident future needs & wants, technologies, infection control practices and sustainability as appropriate. Seniors DevCo has the experience and relationships to lead consultant teams to interpret designs into the necessary documents required for the procurement of municipal entitlements through to building permit drawings. No two projects are exactly the same. That’s why every project demands an eye for detail and careful scrutiny from onset through to completion.
CONSTRUCTION MANAGEMENT
The construction process by its very nature has many moving parts. Seniors DevCo’s systems and experience support an orderly construction process, providing controls and predictability. The triad of budget discipline, schedule duration and quality assurance underpin all Seniors DevCo activities.
OPERATIONALIZATION
A building is an assembly of bricks and sticks. A residence is a home to our seniors. Seniors DevCo has the experience to assist our clients in the process of transforming a building from a construction site to a fully operational Seniors Residence. Residents and staff will be proud to call your project HOME.
