Development Case Study
Walker-Heley started by producing a competition map that identified all of the communities within a 15-mile radius that could potentially compete with the investors’ proposed development. Once the competition was identified, Walker-Heley conducted extensive, on-site mystery shops at each competitor to identify amenities, services, pricing and quality. Then, each competitor was classified as to how they could compete with the proposed community. Upon completion of the mystery shopping process, a comprehensive competitor assessment report was issued to the investors and Walker-Heley provided a final recommendation regarding the best site on which to build the proposed community. In addition, Walker-Heley provided pricing strategies to assist the investors during the initial lease-up phase of the community and guidance on amenities and services.
Operation Case Study
It quickly became evident to Walker-Heley that the market in which this community was located was underserved in the dementia care space. After evaluating the community’s direct competition, Walker-Heley recommended that the owner consider converting some of the community’s assisted living units to dementia care units. The owner approved the solution in concept and Walker-Heley prepared the road map to make this conversion plan a reality. Walker-Heley identified the assisted living units that were the best candidates for conversion and prepared a strategy for the community’s sales team to ensure that units for conversion would not be leased. A communication plan was established with the executive director of the community to explain the planned construction to the current residents and their families. Finally, Walker-Heley assisted with the selection of the construction company for this project and prepared a construction budget for the conversion.