Importance of Site Selection for Senior Housing Development

Date

Nov 5th, 2009 9:00am

Author

Category

market research

It is often said the key to real estate is “location, location, location.”  Although location is a critical component for locating a new senior housing project, site selection for senior housing combines two separate industries: real estate and health care. As such, the dynamics of a good site can be skewed based on the product type (i.e. active adult lifestyles vs. service-intensive housing).

Regardless of what type of senior housing project you are considering, the following questions should be addressed:

1. Are the surrounding land uses compatible, well-maintained, and aesthetically pleasing?
2. Are there any negative environmental issues that cannot be corrected? (i.e. adjacent to airport, landfill, hazardous waste, etc.)
3. Is the proposed project out-of-scale relative to surrounding land uses?
4. What does the zoning code and comprehensive plan reveal regarding permitted land uses?
5. Does the site have the necessary utilities?
6. Does the site allow for adequate open space, circulation, and parking? Can the site accommodate fire safety equipment, trash removal trucks, etc.?
7.  Is there adequate road frontage? Does the site allow for ingress/egress, visual separation from surrounding land uses, and space for adequate landscaping and lighting?
8. Is the site walkable for residents? Proximity to public transportation, groceries, shopping, banking, places of worship, parks, pharmacies, and medical clinics?
9. What is the proximity of the site to caregivers?

There are numerous other questions and criteria to evaluate, however when evaluating potential site locations for future senior housing, there is more to the equation than just “location, location, location.”