We see four basic issues common to all projects that must be addressed before proceeding to design, development and full marketing.  

First, and most important, is insuring the mission and the project are compatible.  Then, market identification is required to ensure the developer will send the appropriate message to the likely purchasers.  The purchasers will want to know who controls the project and what security they will have in their purchase.  

Organizations and businesses often have mission statements that guide ongoing efforts.  A new project can forever change the way an organization operates, including its ability to fulfill its mission.  Whenever there is a major new direction taken or a significant expansion of an existing service a re-examination of the mission is imperative.  

As consultants our role is to understand the mission and connect it to possibilities that will further the mission.  We do not assume that the organization or its leadership necessarily understands the best way to proceed.  Sometimes there is an unrealistic expectation of what project is possible, what it will do for the organization. 

The review is always necessary to avoid wasted effort.  The result of the review will likely not fundamentally change the mission, but it will offer an opportunity to remind the organization of its core values. Further, the final product will better serve the mission.

The first questions purchasers will ask is “what is this, and who is in charge?”  Resolving this fundamental structure creates the platform for proceeding, allowing all team members, as well as future purchasers to understand the relationships. 

If the controlling organization will be non-profit and managed by a board of directors, who will be on the board of directors and how they are appointed will be important issues for a significant number of residents?  It will be important to set up a structure that recognizes a resident’s desire to know how they are governed, what contribution they may have to the management decisions, and what recourse is available to them if there is difficulty.   Some will have few concerns.  However, ignoring the questions can have long term negative consequences for a project. 

Tenure

What legal relationship will the purchaser/leaseholder/occupant have?  The proponents must answer this question before marketing begins.  The form of tenure chosen will determine limits, liabilities, and opportunities, depending on the target market. The implications for financing and municipal planning are significant.

Options include freehold ownership, life lease, condominium, land condominium, rental, co-ownership, or traditional renting.

Further, if there is a care component, the method of payment for the care as well as a path of transition in tenure from independent living to living with the provision of care must be developed to ensure minimal concern for the resident and the resident’s family.  It may be worth exploring payment options beyond traditional approaches.

Test marketing and careful analysis provides for a reliable profile of those persons who are most likely to purchase or rent.  Only then can developers move forward with confidence in framing the project into successful community development.

It matters not what the developer or consultants imagine “the market will want”.  It can also be misleading to take the best from other developments, because the criterion for the “best” is in the mind of the developer, not necessarily the eventual purchaser.

What matters is what people will buy.  The task at hand is to determine expressed need and correlate that with market research on the targeted demographic.

Expressed need must then be compared to what research has identified as long-term needs and support systems required to promote continued purchase satisfaction and well-being.  Then, the best practices of housing can be compared and applied in the framework and design.

The first task will be to validate the assumptions by asking the following:

1. What is the likely geographical market area for this development?

2. What are the demographic characteristics of the target market and are there significant changes taking place in attitudes in the emerging “boomers” segment of the market?

3. What are the values in the target market that are important in making the decision to purchase?  Put another way, what vision do prospective purchasers have regarding the kind of community in which they would like to live? What amenities are desirable.  What do they want to do while living in the community?

4. What kind of home do they want, including unit types, design features, open or closed concept, and more?

5. What form of governance and tenure is most acceptable?

6. If the target population is based in an ethnic, religious, or narrow community population, are there a sufficient number of persons who shall actually be drawn to this development?