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JJirC.L It' <br />and other professlOaRls typically evaluate, acceptable penetration rates for assisted living <br />should not exceed G% w7% of the avollabte Age and income qualified households in a market <br />a rea. <br />As ca® be seen in Fxhiblt 1-1, the required age 75+ penetration rates for 60 assisted <br />living units at the proposed development range Froin 2.0% to 2.8°x„ based on minimum <br />qualifying income screens ranging frorti 540,040 to 550,00(} ,and assuming 70% absorptlon <br />from the VNIA, Exhibit I-1 also evaluates the penetration Mites for a larger project - 8o <br />assisted living units. The required age 75+ PMA penetration rates for tills unit configuration <br />ranges from 2.7% to 3.7% - based an the same assumptions outlined above. <br />The penetration rates reflected in Exhibit I-1 arc based on boar qualifying cash now <br />income and (tic estimated impact of home equity in the Greater Sebastian arca. 1t is the <br />opinion of MDS (bat the penetration rates for hoth'suit count scenarios In lbe Sebastian PNtA <br />are conservative, realistic and within acceptable and recognized industry stiindnrds. <br />Appendix A of this report contains the detailed supporting penetration rate models used to <br />calculate the assisted living penetration rates. It should be: noted that these penctration rates are <br />expressed in the 1799 time frarrre - consistent with the estimated tinic frarne for the proposed project <br />to be ready for occupancy and absorption of units. <br />SY-A5stiyrnjWq€rs 1RY91vg- u the <br />VC111-ttafwn R3te fit: MdeEs <br />771e approach to market feasibility determination for assisted living units involves the <br />following pragmatic sequrlitial, scfccrung process <br />I The estimated number of 1999 age 75+ tautt.lnttitutl'onalized <br />houseboldt 4s first detcrrrrined <br />a <br />