Riverside Commons
This project is beyond its conceptual phase. It is estimated at $8M.
The 3.5 acres of beautifully wooden land is available. There is a $110K note on the property. The value of the land is estimated to be $700k.
CHILD CARE COSTS PER MONTH:
Montessori Preschool: $12,000 per year: based on M-F 8:30am to 3:30pm
Adult day care: $17,280 per year: based on M-F 8:00am to 5:00pm
COMPARISONS:
Assisted living costs: $36, 540 and up per year
Home Health Care: $42,328 per year
Home Health Care Aide: $45,188 per year
Nursing Home, semi private room: $89,060 per year
Nursing Home, private room: $100,375 per year
Adult Day Care is a program for adults who need supervision, care and support during the daytime while their caretaker(s) rest or work. Adult Day Care is a professional and cost-effective alternative to nursing home care or private sitters. Our preschool part of the building is designed to be a Montessori classroom for 3 to 6 year olds. They are at a wonderful age, learning about themselves with open hearts for elders.
Adult day care needs 45 sq ft of net floor space per participant. Child Day care requires 25 sq ft per child indoors, and 75 sq ft per child outdoors.
This project is currently configured for a maximum of 40 adults and 30#/- children. `
The building size is 7000 sq ft, and a 30,000 sq ft Assisted Living Center.
Generations United with grant from METLIFE Foundation published a handbook: UNDER ONE ROOF: a guide to starting and strengthening intergenerational shared site programs.
St Ann’s Center for Intergenerational Care in Milwaukee, published a guide for creating an intergenerational day services center ” CARING FOR GENERATIONS”
Bilbiographies and Resources are available in both publications.
HOW THIS PROJECT COULD WORK:
1.—There is the potential to find the funds for this project to be entirely Not for Profit.
or
2.—There is the potential to form a joint partnership with an investor/developer who would build the ALF and we would use grants to develop the Intergenerational Center. They would function independently.
or
3.—Another potential is for an investor/developer who would develop the whole project and his ROI would be the revenue from the ALF and lease payment from the Intergenerational Center (NFP) which would have a long term contract.
THE POTENTIAL OF THIS PROJECT
The first part of the project is developing an intergenerational shared site in Brevard County. The opportunity exists in light of the June 5, 2018 extensive report on the status of shared sites in the United States, to come up with a workable solution that is replicable. When that is achieved the market is huge.
