We were contacted by a Founding Principal at Lee & Associates Commercial Real Estate Ontario, regarding an approximately 219 unit senior housing & memory care facility development; planned for the Corona/Temescal Valley area. This project was in its final stage with investment partners; however, the entitlement process warranted additional supporting graphics, mapping, and research, to demonstrate to stakeholders the growing need for such a facility in this trade area.
To begin this project, we started by compiling information from city and county planning development offices. Using this information, we then illustrated the residential development in the area: newly developed, under construction, and planned construction sites; a map legend was created with color-coded icons and tables to communicate the information effectively. We then turned our attention to other pertinent trade area information, such as nearby retail shopping centers, hospitals, and other medical centers. To complete the aerial, we also researched and compiled a list of all comparable senior/memory care facilities in Southern California.
With this project on the line and investors feeling bearish, this housing study aerial and detailed report gave the broker, and the developer, the confidence to proceed with the entitlement process and reassure any hesitant investment partners.