When the recession hit the market changed in regards to commercial investments and assisted living. The big builders finished the projects they were currently working on and then stopped all new building. However the need for assisted living didn’t stop. People were still aging and moving in and needed it. Those large facilities filled up as no new facilities were being built.
So when we are talking about overbuilding, let’s think about it differently. These big box companies have done their research. They know that where they are building is the perfect location based on the number of people there, the amount of money they have, their age, the demographics and the ability for them to pay. If you see a big box facility coming to your town that is a good sign.
If you can locate at the end of their driveway that is awesome, but within a few miles would be ideal. They have already done the market research for you. You know the people are there and if they know you are there, you become the alternative, the boutique home with 10 to 12 beds, versus the large institutional building with 212 beds. You have the better product in the right location. So let them overbuild.
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