Southern Illinois University Edwardsville

Edwardsville,

Retirement Community Feasibility Study

B&D, in partnership with Revere Healthcare and Tyson Billy Architects, was selected by Southern Illinois University Edwardsville in 2013 to conduct a senior living complex feasibility study. The purpose of this project was to evaluate the potential market demand and the financial feasibility of a retirement community located on University property. In addition, the university was interested in understanding the feasibility of a Health & Wellness Center either adjacent to or co-located with the senior living complex, along with retail components. The scope of work included a market analysis consisting of demographic research, a competitive assessment of existing or planned retirement communities in the area, a community and alumni survey, and a demand analysis projecting the number of feasible units. A site analysis identifying existing conditions, access, parking, and site layout was conducted at six locations. Finally, we developed a financial model that projected potential expenses, revenue, and debt service associated with the community based on the anticipated number of units at market-supported rental rates. The final recommendation included a mix of 130 units in townhome and condominium layouts, geared toward independent living and active older adults. The University Park location was deemed most suitable because of size, access, and existing utilities.