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01-22-08 1B Market Study
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01-22-08 1B Market Study
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Last modified
1/18/2008 11:19:37 AM
Creation date
1/18/2008 11:17:07 AM
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Market Study by Maxfield Research
General - Type
Agenda Item
Date
1/22/2008
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<br />SENIOR HOUSING ANALYSIS <br /> <br />Assisted LiviD!! <br /> <br />There are five facilities, the newest built in 2001, with a combined total of 443 units. One of the <br />projects is located in Arden Hills while the remaining facilities are located in New Brighton and <br />Roseville. We identified 14 vacancies in 2007, with seven of those at Eagle Crest Commons, a <br />Roseville facility built in 1991. Four of the five assisted living properties also have memory care <br />facilities. <br /> <br />All five facilities include utilities in the rents, coordinate transportation for residents, have sche- <br />duled activities, include two or three meals in the base price, daily or weekly housekeeping, pro- <br />vide 24-hour supervision, and offer a range of personal care assistance at an extra fee. <br /> <br />~ Presbyterian Homes' Lakeview Residence/Sutton Place/McKnight Care campus is the single <br />assisted living facility in Arden Hills. Originally built in 1955, it has been added onto in <br />1958, 1963, 1972, 1980 and 2005. The largest facility of its type in the Market Area, it has <br />136 assisted living units: 125 studio apartments and II suites. <br /> <br />~ Brightondale in New Brighton, built in 1988, has 52 one-bedroom units and 11 two-bedroom. <br />Rents range from $2,420 - $3,090 per month, which include utilities, two meals per day <br />served restaurant-style or room service, weekly housekeeping/linens. <br /> <br />~ Sunrise ofRoseville, built in 2001, is the newest assisted living facility in the Market Area. It <br />has a total of 21 companion and 27 private rooms with bath and small kitchenette. Monthly <br />rents start at $2,550 for shared units, to $4,560 for private units, which includes three meals <br />per day, weekly housekeeping, and scheduled transportation and activities. <br /> <br />Memorv Care <br /> <br />There is one memory care facility with a total of 33 units in Arden Hills and three in the General <br />Market Area for a total of 76 units. All have zero vacancies. A brief description of each follows. <br /> <br />~ Lakeview Residence in Arden Hills has 33 secured efficiency memory care units in its facili- <br />ty, and relies mainly on internal transfers from its assisted living facility for filling beds. The <br />average age in the facility is 85. <br /> <br />~ Brightondale in New Brighton has II units of memory care. Services are provided for a flat <br />fee based on three levels of care. <br /> <br />~ Sunrise of Rose vi lie has 29 units of memory care on a secured upper floor. It features studio <br />and companion units. Severalleve\s of services are provided based on a point system. Re- <br />miniscence (I to 4 points) is $43 additional per person per day. Reminiscence Plus (5 to 8 <br />points) is $63 extra daily. Reminiscence Plus Plus (any 9 or more points) is an additional <br />$75 per person per day. <br /> <br />~ Eagle Crest Arbors in Roseville has 33 units in their memory care wing, six studio units and <br />25 one-bedroom units. <br /> <br />70 <br /> <br />MAXFIELD RESEARCH INC. <br />
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