What is the market opportunity for a CCRC in our area?
South Palm Beach County represents an excellent opportunity for developing a new CCRC, particularly one that targets Jewish seniors. Within South Palm Beach County, there are an estimated 8,000 age-and income-qualified Jewish senior households that reside in the area year-round. That is an impressive number, given that many developers consider a market a strong opportunity for CCRC development with 2,000-3,000 qualified households. Assuming an 8% penetration rate (meaning only 8% of qualified households move into a CCRC); there is an opportunity to develop up to 350 incremental independent living units targeting Jewish seniors. The CCRC is planned to include only 180 to 230 independent living units. The market opportunities for assisted living and memory support assisted living are equally as strong.
