ALF, LIHTC & Net Zero

Magnolia Blossom Gardens

180 BED Assisted Living Facility

EL_01-10-045-Rowan (072111) 11x17

This project is a 180 bed ALF in New-Port Richey (FL). This project was packaged as a development opportunity by Philippe Beau as part of his services with Klein & Heuchan.

The main highlights of the project are:
  1. The project is less than a mile away from a Hospice facility in Pasco County, just 4 miles away from two community hospitals, and, respectively, 6 and 8 miles away from regional hospitals, including one under construction in Trinity. It has shopping and drugstores closer than a mile away on ridge road, and restaurants and a mall on SR54, and on US19.
  2. The property contains more than 6 acres, and is surrounded, to the West, by a very large preserve located in the heart of New-Port Richey, and, to the East, by the Magnolia Valley Golf course and apartment complex.
  3. The property will be built as a 100% ADA compliant facility, with every room accessible and equipped for any type of impairment, and with a contained area for Alzheimer patients. The design of each room is a hybrid form in between an Independent Living studio (IL), and a high level care facility (SNF). It has 66% of private rooms with semi-private ADA bathrooms that are designated as affordable ALF.
  4. The building is to integrate many green features, as well as solar panels destined to provide hot water, and furnish electricity for building lights.
  5. A recent market study (2008) shows a great need for new and affordable facilities in the area of New Port Richey (up to 3 facilities of this size), and current pricing was based on 2008 average rents (From $ 2,190 to $3,000 alz), although completion is not expected until 2012, at which time this facility will be extremely competitive.
  6. This project meets all industry benchmarks in terms of future occupancy, operations, and NOI projections.
  7. The assembled team for this project has the following members: Land and business development: Philippe Beau with Klein and Heuchan Inc, and American Land Planning Management, Inc, William S. Konrad: Land planning and property owner, Darren Azdell of Insideout Architecture, Bill Voeller of Voeller Construction (ALF and condo specialist), and Daniel Charpentier with Peerless Healthcare.

Solamar: A Net Zero Residential Project in Oldsmar

(see description in this article)

Belleair Place: LIHTC, a Richman Group Development

With American land Planning Management Inc, Philippe Beau represented one of the land owners whose property was an important piece of the land assemblage performed by the Richman Group in Largo, at the corner of Clearwater Largo road, and Ponce de Leon Blvd. The Richman Group owned an existing project (Belleair Place) under a Low Income Housing Tax Credit format (LIHTC), to which it proposed to add more than 200 apartments. This project was put together in concert with the City of Largo, the Pinellas County Community Development Department, The Pinellas County Housing Finance Authority, and private banks. Philippe Beau focused his efforts as a consultant as an Owner's Representative securing many land planning issues, and with the Richman Group as one of their independent consultants, and based on their objectives for the project. This project will offer affordable housing for low income residents, including the handicapped, as well as a percentage of mixed income residents, and has benefited in part from NSP II funding (Neighborhood Stabilizatiuon Program).