Active Elderly Communities

The company acquires existing properties (condominium buildings or apartment building) that conform to the company's criteria (one- or two-story structures; 16-to-32 units; maximum 70:100 building-land ratio; convenient to transportation, medical, entertainment, and shopping facilities; low-crime rate area). These properties are refurbished and remodeled by the company to provide residential accommodations for physically independent persons aged 60 and older. The company performs all exterior and interior maintenance on the buildings and grounds; includes payment for all utilities in the leasing fee; arranges for a security service to monitor facilities on a regularly scheduled basis throughout the day; and maintains an on-site resident manager (McCarley, 2003).

The company, as this time, does not offer facilities and services for persons who require assistance with daily living functions (such as bathing, dressing, cooking, and so forth). Further, the company does not provide any health care services for residents either on-site or through contract providers off-site (McCarley, 2003).

The company provides services to single elderly persons or to elderly couples. People younger than 60 are not permitted to res

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tions, (b) assisted-living facilities (help with personal functioning is provided), (c) independent-living facilities (facility maintenance and repair provided; individual provide for their own care), and (d) commercial apartments and other rented residential properties. Within these segments, there are sub-segments defined by (a) ownership sharing with service fees, (b) straight rent versus leasing, and (c) lease type. Growth is occurring in each of the market segments identified above. Because of the aging of the baby-boom generation, growth is expected to continue at least through 2015 (Bureau of the Census, 2003). The current market size in the area served by the company today approximated 260,000. By 2010, the market size is projected at 320,000 (McCarley, 2003). Customers People who are interested in services delivered through the business model currently used by the company have a favorable impression of the company. People who desire to acquire and maintain an ownership stake in the property in which they reside, however, while they recognize the integrity of the company and the quality of its product, nevertheless, fault the company for not providing a mechanism that allows residents to acquire and maintain an own
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Approximate Word count = 2992
Approximate Pages = 12 (250 words per page)

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