By Penelope Carlevato, RN
As more seniors transition into communities and planned housing, builders and officials look for help in planning, innovations, placement, regulations, design… and Sam Martin and Shahid Imran are there with A-to-Z assistance.
In the past few years, the Baby Boomer generation has become one of the largest groups of retirement over the age of 65. Retirement homes are not the only option for the aging members of the population anymore.
Senior living communities, which allow senior citizens to live mostly independently with access to a variety of amenities, provide an alternative for individuals or couples who can no longer safely live on their own and with the option to later on transition into assisted living or memory care within the same facility, are in high demand.
Traditionally, the senior housing market has been a stable multifamily commercial real estate investment during economic booms and busts. In recent years, however, senior housing and care has become an especially popular asset class among both institutional and individual investors. It has already outperformed other noted real estate sectors and it will continue to be a favorable opportunity due to impressive demographic fundamentals.
But for some investors, there is the constant factor of finding the right location, and the need for quality construction and craftsmanship, fact that will make them shy away from venturing into such great return on investment opportunity. Enter the dynamic Michigan-based company Build Senior Living (BSL), which represents a revolution in assessing all aspects of this new reality and its opportunities.
From concept development and marketing opportunity analysis to on-the-ground facility management, human resources and occupancy consulting, BSL has taken the guesswork out of many parts of this process. The planning, development and building experiences are addressed on behalf of investors and developers.
Co-owner Sam Martin described the complications that can confront investors, developers and builders, especially if they are new to this business. Over the past four years, Martin and his business partner Shahid Imran have developed BSL as a successful and growing national company that assists customers to develop and build premier senior living communities, including independent, assisted living and memory care.
Before the first dirt is turned over in any project, Martin and Imran establish all the basic details; starting from the ground up, so to speak, they avoid many headaches and hassles that otherwise confront the planning and building of a retirement community. Their vast experience and connections with specialists in real estate, zoning, planning, construction, landscaping and interior design help Martin and Imran show new customers that the wheel of planning and engineering does not have to be reinvented with each new project.
Potential investors and developers must understand that this is a complex process. Development of a senior living community requires a high level of expertise, market knowledge and sophistication. It requires a specialized approach to financing, zoning, project management and marketing. It is essential to follow the correct “path” in order to avoid costly errors and succeed in launching and sustaining the community. Obtaining guidance and advice from an objective source is critical to making informed decisions.
Martin and Imran have developed a successful blueprint for builders and buyers, thereby offering tremendous opportunities for investors and developers. Discussing this investment aspect of Build Senior Living, Martin reports that investors are realizing about a 20% return on their investments in the development part of their business.
Like any successful real estate venture, location is the key factor in building and buying. Martin and Imran have pooled their talents, providing the population of Michigan, Florida and other communities throughout the U.S. with key opportunities to buy, invest and live in senior accommodations that provide area residents autonomy, luxury, and safe and secure communities.
The need for active senior housing is at an all-time high demand. It is estimated that more than half of people over 65 (Baby Boomers) are looking to move into senior living retirement communities. With this age group living longer than previous generations, Martin says that BSL is well aware of the need for their properties to be fitted with the latest in technology that allows residents to stay in contact with their families.
BSL understands the desire for their residents to have everything for successful living in one location, with the added opportunity to move into a more advanced level of care when needed. This is of prime concern to the senior who is looking for a permanent home. BSL is creative and bold in taking the business concept from “Just an Idea”…to a “Turn- Key” property.
With experience in both the financial and the construction businesses, Martin and Imran display a clear passion to provide premier, safe and secure environments for residents and investors alike. These family men have put their extensive knowledge to work to assure the future resident or the developer of a successful venture.
The sizes of the senior communities that BSL has developed or are currently developing are between 40 and 80 apartments, based on the area and community needs. Realizing that technology is changing the face of how seniors chooses their options, BSL connects and helps seniors to age with dignity, providing them with the many options. Martin and Imran work hand-in-hand with owners, founders and administrators to provide a framework for success that enables their clients to build senior communities with the best facilities, services and atmosphere.
BSL is committed to providing the best technology to reinforce and allow older adults to live independently, with the confidence of safety and comfort in a home that not only has been built with care but with love too, from the ground up.
Sam Martin and Shahid Imran are available to discuss any potential interest that investors, developers, or builders might have regarding such investment opportunities.