28A — May 25 - June 7, 2012 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O WNERS , D EVELOPERS & M ANAGERS By Richard B. St. Maur III, Coordinated Project Solutions The senior care marketplace is constantly evolving
GENERAL CONSTRUCTION
Commercial • Industrial • Residential
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ers are attracted by the op- portunity to make money. One of the problems that this scenario creates is this: when the minimum required, is the maximum provided, the result is mediocrity. No one wants to place their loved one in a mediocre facility. Here is an example to illustrate this problem: when hurricane An- drew hit Florida in 1992, there was an instant need for more building contractors than those existing at that time. So, everyone who could swing a hammer, became a “General Contractor” overnight! The quality of construction was so poor that the State was forced to write a new, much more stringent building code, and institute a three day se- ries of tests in order for anyone to qualify for a Florida state li- cense. Hind sight is 20/20. Let this not happen in the senior care industry. The Challenges: The ex- perienced professionals in this field of Senior Care, must take leadership roles, now, to improve the systems being used to communicate the best
practices of design, construc- tion, care-giving programs and management, to all of the members of the team re- sponsible for the best possible outcome. These leaders must be aware that the needs and wants of these senior residents will constantly be evolving. Medicine and technology are constantly improving. Phi- losophies and methods of care continue to develop. These leaders must be proactive in managing and implement- ing these changes, as well as keeping an ear to the ground to follow the next generation of improvements that will begin to sprout. Better care, provided in im- proved facilities, at lower costs, should be the constant, main goal, relentlessly pursued. It is imperative that one always goes the extra mile to exceed expectations, in order to suc- ceed. Success, in this case, can be defined as: the progressive realization of pre-determined, worthwhile goals. The Rewards: You can- continued on page 35A
asier to Forecast than the Weather: Today, the “Baby Boomers” are
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taking care of their ag- ing parents themselves, or arranging for “in home care ” f rom outside pro- viders. Many are c a r e f u l l y
Richard B. St. Maur III
placing their 85 year old par- ents in assisted living fa- cilities. Our aging population continues to grow and will soon explode with 78.2 mil- lion “Baby Boomers” begin- ning to retire this year. This sharply increased need, that will continue to grow for the next thirty years, will result in an extraordinary challenge to “get it right”, before our so- ciety is inundated with senior citizens, all needing some level of care and assistance. Pitfalls to be Avoided: When any market experiences a sharply increased need, as the one forecasted for senior care, inexperienced newcom-
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