Master planning for the future.
Planning plays a crucial role in receiving project approval from senior living owners and board members. A big part of any development work we do, either with a new or an existing community, is to create a comprehensive retirement community business plan called a master plan that sets the stage before initiating design.
A well-executed master plan is informed by in-depth market research that gives you a complete picture of all factors that can impact your community’s success. Most importantly, it identifies your customers and what they want in a senior living community. It also incorporates information gathered from strategic planning. LCS Development works with owners, board members and other stakeholders to develop the most successful strategy for your community. The strategic planning process includes identifying your:
- Mission statement – who you are as an organization
- Vision statement – where you see your community going
- Value proposition – community's value from the residents' point of view
- Strategic objectives – target objectives to meet your vision
- Goals – set within your strategic objectives
- Action steps – tasks to achieve goals
Learn more about LCS Envision, our systematic process of evaluation, discussion and collaboration that helps owners or boards and executive directors manage the future of their senior living communities.
Constructing a successful master plan.
A well-designed master plan consists of three parts and provides direction and focus for future capital improvements specific to your unique issues. It establishes a phased strategy to accomplish a logical, site development sequence, and also includes future growth and/or program enhancements merged with a financial plan to ensure viability.
1. Assessment
Builds common understanding and provides an insightful view of your community and its current situation. We review the strategic plan, site, buildings, market, regulatory environment, current amenities/services and the finances and present forward-looking market research and design trends.
2. Collaboration
Provides a forum to discuss various development strategies and associated design scenarios. The collaborative planning builds consensus with stakeholders and includes:
- Development strategy and phased process
- Design concepts
- Financial feasibility
3. Delivery
Culminates a final plan that incorporates design, program, phasing and economic information to demonstrate overall viability. Your plan includes:
- Development plan
- Program for new and renovated building criteria
- Site utilization plan
- Phased plans
- Business plan and budget
Master Planning: Essential Roadmap for Senior Living Communities
The master planning 3-step process helps to ensure long-term viability and market position. Every senior living community reaches a point in its life cycle at which it could start to decline — often as soon as 10 years after opening — and capital improvements must be made to sustain the community’s appeal and viability.