Feasibility of a free-standing memory care/assisted living project in Kelowna – Lumina Services was retained by national seniors housing provider to prepare a market study focused on the potential development of a new assisted living/memory care project in Kelowna, BC.
North Surrey Seniors Housing Market – Lumina Services was retained to prepare a market study focused on the North Surrey seniors housing market in general and on the potential development of a specific site in the area. Before deciding whether to retain the site or dispose of it, the company required a market analysis.
South Surrey Seniors Housing Market – Lumina Services was retained to prepare a market study focused on the potential development of a site in South Surrey. The site had received third reading based on rezoning to accommodate a 125 bed residential care facility, partly based on the unfortunate encouragement of the City of Surrey.
Sunshine Coast Market Studies – Lumina Services over a period of years has conducted several different market studies on the Sunshine Coast for various developers.
Stony Plain Alberta – Lumina Services was retained to provide a market study for a 229 unit seniors’ housing project in Stony Plain, Alberta. The project was planned as comprising two 80 unit buildings that would provide supportive housing as well as 69 duplex bungalows.
Preferred Locations for Seniors Housing Projects, BC and Alberta – Lumina Services was retained to develop a model for identifying the best locations for seniors housing and health care projects in BC and Alberta.
Saskatoon Saskatchewan – Lumina Services was retained to prepare a market/feasibility study focused on the potential development of a new seniors housing project in Saskatoon, a joint venture between a non-profit and a for-profit company in Saskatoon.
Crossmount Village, Saskatoon – Lumina Services was retained by a large Saskatoon land developer to prepare a comprehensive market study focused on the potential development of a large and innovative “seniors village” planned for a 400 acre site three miles outside the Saskatoon city limits.
Richmond Market Studies – Lumina has prepared a number of market studies focused on various proposed communities in Richmond.
Alberta Market Studies – Lumina Services has prepared market studies for many communities in Alberta including Calgary, Edmonton, Red Deer, Lethbridge, Pincher Creek, and Three Hills.
Comox Valley – Lumina Services was retained by a non-profit residential care facility to provide market studies and strategic advice related to the future operations of the facility.
Inclusion Powell River – Lumina Services
Real Estate Foundation of BC – Lumina Services completed two major studies for the Real Estate Foundation, one focused on seniors housing needs in northern BC and other on financing seniors housing projects through the use of resident equity.
Finnish Canadian Rest Home Association – Lumina helped the Association explore the possibilities for a large campus of housing and care in Coquitlam BC. Components of the development included housing for independent seniors (ownership and rental), supportive housing and assisted living, and long term care.
Trail Greater Abbeyfield Society – the Society was faced with the question: was there a need and demand in the Greater Trail area for seniors’ housing and if so, what kind?
Market Studies Calgary and Victoria – two comprehensive studies of the seniors’ market in both cities were completed for a large real estate development company with no previous experience in the seniors’ housing industry.
New Vista Society – Lumina was retained by the New Vista Society, a large not-for-profit operator in Burnaby BC, to assist the Society in the master planning of its large campus. The assignment included a market study for a proposed new supportive housing/assisted living component; an analysis of the rent structure of two existing towers relative to the area rental market; the potential of adding services to independent seniors units; and the feasibility of converting existing long term care beds to assisted living.
Pincher Creek AB Market Study – Lumina was retained by a large BC based owner and operator of seniors housing and care homes to explore the feasibility of developing a campus of care in Pincher Creek.
Okanagan Falls Legion – Lumina was retained by the Okanagan Falls Legion to explore the feasibility of redeveloping the existing Legion building in conjunction with new seniors’ housing.
Pender Harbor – this small community on the Sunshine Coast was looking for ways to enable its seniors to age in place and Lumina was retained to assist in this process. Two innovative approaches were considered—a life lease Abbeyfield (only one exists in Canada), and a virtual retirement community.
Emaar – Emaar was a very large Dubai based real estate development company that folded in the 08/09 recession. Lumina worked first with Emaar and then with the subsequent owner on a planned condominium in the Dunbar area of Vancouver that would combine two elements – a new condominium coupled with a virtual retirement community, which is not a place but an organization focused on facilitating aging in place in people’s own homes.
Baptist Housing Society – Lumina has prepared a number of market studies for the Society throughout the province. The Society has extensive operations in the seniors’ housing and health care sector, including two high end retirement communities in Vancouver and Victoria (both called Shannon Oaks.)
Langley – in 2008 and 2009 Lumina conducted three market studies in Langley, two for for-profit companies and one for a not-for-profit. The Langley market is fragile and great caution is requited by those contemplating developments in the community.
Life Lease Consultation, Calgary – in 2008, Lumina’s client was developing its first life lease in Alberta and retained the company to provide advice and expertise on life lease housing.
New Westminster – this market study was prepared for a large local development company not previously active in the seniors’ housing industry.
Parksville Market Study – the same company owns land in Parksville on Vancouver Island and wanted to know whether a seniors’ housing development might work on their site.
Financing Seniors’ Housing Developments Using Resident Equity – this major report funded by the Real Estate Foundation and BC Housing focuses primarily on life lease housing, although there is also a brief section on equity coops.
Market Studies, Various Small Communities in BC – between 2006-2009 studies were completed in several small BC communities. The studies were focused on ways of developing seniors’ housing in the absence of government subsidies. Studies were conducted in Nelson, Kaslo, Baynes Lake, Sparwood, Salmo, McBride, Valemount, Hope, Logan Lake, Lumby, Pemberton, Cache Creek, New Denver, Hope, Nakusp, Lillooet, and Enderby.
Market Study, Comox – this study for a private developer explored the market for supportive seniors’ housing in Comox, a town on Vancouver Island. The study included an assessment of the pros and cons of the site, an analysis of the likely primary and secondary market areas the project would appeal to, current demographics and population forecasts for the next five to 10 years, a complete review of the competition, current and in the pipeline, a go or no go recommendation (go in this case), and recommendations about unit size, services and amenities, and projected absorption period.
Market Studies South Surrey, Surrey, Chilliwack, Nanaimo, Kamloops – these studies for a leading provider of funded and for-profit supportive housing, assisted living and long term care were focused on opportunities for development on surplus land adjacent to existing facilities. Opportunities assessed included conventional condo developments as well as the complete range of seniors’ housing and health care.
Consumer Satisfaction Study – this large scale study is being conducted in association with the BC Senior Living Association. It involves 16 projects located throughout the province and is aimed at understanding what motivates consumers to choose supportive housing, why they chose the project they are living in, what they like and don’t like about it, and what they would advise new developers to do in the construction of new buildings. Highlights of the project were presented at the 2008 BCSLA Annual Conference.
Sidney Market Study – this study focused on the market potential of a 75 bed private pay residential care facility in Sidney, BC.
Nanaimo Market Study – this study was commissioned by an investor interested in the potential of purchasing surplus land owned by a church in north Nanaimo and developing supportive seniors’ housing on the site.
Prince George Market Study – this study was commissioned by a service provider contemplating responding to an RFP and needing to know the depth of the private pay assisted living market in Prince George.
“Is the Seniors’ Housing Market in Western Canada Changing?” – Lumina Services and Duncan Elliott Appraisal Group teamed up to present a half day seminar at the Vancouver Convention Centre in June 2008. A sold out audience of 80 people attended the event.
Presentation to Board of Retirement Residences REIT – RRR has recently been purchased by a very large public pension fund and is exploring ways to reposition itself in the Canadian and American senior’s housing industry. Lumina was invited to make a presentation to the Board on trends in the Canadian seniors’ housing industry.
Presentation at Insight Conferences on Seniors’ Housing, Toronto and Vancouver – Lumina was invited to make presentations at both conferences, one in 2007 and one in 2008.
Underperforming Project Analysis, Victoria and Kelowna – Lumina was retained to help project owners deal with unacceptably high vacancy rates.