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kk.1l.R`1k.IL 1 S f �74ai_ 4. <br />SECTION I <br />SPECIFIC FR -M-CT— E-SIBILITY <br />verview <br />Contained in tliis section are the details regarding the specific project feasibility analysis for <br />z <br />the absorption of a state-of-the-art assisted living community being considered for dcvelopmcnt at <br />a site in Sebastian, Florida. Field work and analysis for this engagement was completed in <br />December, 1997; therefore, the analysis and conclusions contained herein reflect market conditions <br />as of that time frame, Following is a detailed discussion of the ,penetration rate/demand analysis for <br />this living arrangement. <br />Professional Market Feasibility Opiniag <br />Based upon The quantitative results of this detailed market feasibility study and KIDS' <br />significant national experience in evaluating successfutSeaior housing communities, it (sour <br />specific opinion that the proposed assisted living arrangement (as defined herein) is feasible <br />in the Sebastian PMA from a quantitative perspective. Our analysis indicates there is <br />sufficient size and depth of the market to support the number of assisted living units <br />recommended and evaluated for the Primary Market Area. This opinion considers both <br />existingaad platinedlannounced competltfon aswell as unit turnover- the re-filllugofexisting <br />occupied units due to natural resident Attrition that will occur at mature competitive <br />communities. <br />t= <br />It <br />i <br />