We at Solomon Development Services, LLC, take pride in setting the standard of senior living design and development. As lead development and management consultants to over $1.9 billion of real estate development in this sector, our award-winning communities and their respective high occupancy levels are a testimony to our ability to create appealing, unique living environments. Given the complexity of operations, the need for residential appeal, regulatory requirements, and an ever-changing discretionary customer, Solomon’s team combined experience of over 100 years developing, marketing and operating in the senior housing sector delivers innovative, market driven solutions that yield value for Owner, Operator and Customer.
With today’s competitive marketplace and sophisticated, discriminating consumer, it is especially important to create unit and environmental design with a multitude of colors and finishes, furniture and lighting options. Solomon’s affiliated company, Abbey Hall Interior Design, LLC provides an increasingly important role of interior design for construction, renovation and re-positioning of communities in a dynamic marketplace. Abbey Hall realizes that you only get one chance to impress a customer, who typically spends $100,000 during their stay. First impressions and healing environments therefore, are critical to success.
Solomon Development analyzes the target market to determine opportunities within that market. This analysis consists of market demographics, evaluation of competitors and a determination of market needs. Specific sites within the opportunity area are then identified based on zoning requirements, feasibility of rezoning if necessary, topographical challenges, access to utilities and overall suitability for development.
Determining the financial feasibility of a new development is a process that begins as soon as markets and sites are identified. The financial feasibility study is a critical component in validating initial market assumptions and confirming factors such as services mix, unit mix and size, unit absorption rates, staffing requirements and expected return on invested capital. In addition, a third party market analysis firm is engaged to confirm Solomon’s internal analysis of the market opportunity – factors critical to a successful development. This analysis is useful in helping investors and financial institutions fully understand the financial requirements of each development.
Solomon Development brings years of design and construction experience and knowledge to the project development process. Solomon will manage the entire development process from site acquisition to delivering a completed project, equipped and ready to be opened. Solomon will assist in choosing the design team as well as the construction team. With Solomon oversight, the combined team will design the project in accordance with Solomon’s proprietary design criteria, take the site through necessary zoning and governmental approval processes and construct the project in accordance to plans.
Solomon will provide financial oversight to include managing the agreed upon project budget and schedule, providing development accounting, as well as cost reporting. Solomon’s objective is to deliver the project as expected, on-time and within budget. Solomon will also manage pre-opening marketing and sales activities during the development and construction phase to ensure that the project has the market presence needed for a successful opening.
Solomon Development Services, LLC, through affiliated companies, has owned and operated Independent Living, Assisted Living and Memory Care senior housing communities. Solomon understands the need and process for recapitalizing and repositioning these types of communities for future success. We have expertise in Continuing Care Retirement Communities and understand the need for recapitalizing and repositioning these communities to be successful in today’s market place.
Solomon’s affiliated company, Abbey Hall Interior Design, LLC provides a vitally important role in new projects and in the renovation and re-positioning of existing communities in today’s dynamic marketplace. Abbey Hall realizes that you only get one chance to impress a customer, who typically spends $100,000 during their stay. First impressions therefore, are critical to success.