PARK PLACE

1
PARK PLACE
Park Place 6900 37th Avenue South Seattle, WA
98118
- 154 Units -
Partners

• Seattle Housing Authority
• Retirement Housing Foundation

2
BACKGROUND

• Large elderly population in NewHolly
• Elder Village includes Section 202
  independent living
• Options allow residents to transition to
  assisted living
• Community Program Entry System (COPES) gives
  Medicaid reimbursement to ALFs
• SHA, a Moving To Work (MTW) authority, was able
  to project-base units

PARK PLACE
SEATTLE, WA
3
DESIGN / STAFFING
ADMINISTRATOR

• Design
• Units range from 347 to 578 square feet
• Feature small refrigerator, sink and microwave
• Allowed to bring pets
• 15,000 Square Feet of Common Area (dining, deli,
  computer space and beauty parlor)

PARK PLACE
SEATTLE, WA
4
PROCESS

• SHA procured outside market feasibility
  consultant
• ALF requirements prompted SHA to procure
  developer
• RHF, a California non-profit, faith-based
  organization selected as developer

PARK PLACE
SEATTLE, WA
5
PROCESS (Continued)

• SHA project-based the subsidized units
• RHF added 54 private pay units
• Elder Village components share common area costs
  
• SHA used its authority to issue tax exempt bonds
• SHA accepted a residual receipts note

112,400 per unit
PARK PLACE
SEATTLE, WA
6
MANAGEMENT / MARKETING

• Management
• RHF owns and manages Park Place
• Licensing process delayed six-months
• RHF paid staff and serviced debt prior to
  lease-up

• Marketing
• Perception that ALFs are similar to nursing
  homes
• Area perceived to be unsafe or undesirable

PARK PLACE
SEATTLE, WA
7
RESIDENT SERVICES

• ALF residents assisted with bathing, dressing,
  grooming and medications
• Services available
• Three meals a day in a community dining room
• Weekly housekeeping and laundry assistance
• Emergency call system and 24-hour staff
  assistance
• Recreational activities and fitness center
• Beauty/barber shop, library, game room, deli,
  gift shop, wellness center
• Local transportation to medical appointments and
  shopping

PARK PLACE
SEATTLE, WA
8
CHALLENGES/FAILURES/LESSONS LEARNED

• A recent and reliable market study is crucial
• Licensing delays increase lease-up time cost
• A facility must be operational prior to
  licensing
• Allow for move-outs due to death or the need for
  a higher level of care
• Marketing is a long-term process
• Partner with experienced and well-financed ALF
  developer

PARK PLACE
SEATTLE, WA
9
ACCOMPLISHMENTS/SUCCESSES/HIGHLIGHTS

• COPES Medicaid reimbursement 1,830-2,293 per
  resident/per month
• SHA contributes 512 per resident/per month
  under Section 8 program
• Subsidized residents contribute monthly Social
  Security checks, less 58
• A total of 54 units are set-aside for private
  pay residents
• Market rate and subsidized units float and are
  indistinguishable

PARK PLACE
SEATTLE, WA
10
SUMMATION

• Predicting market demand for ALF product is
  difficult
• State Medicaid financing licensing
  requirements vary
• Licensing delays are likely
• A mixture of market assisted units increases
  feasibility
• Ability of PHA to project-base units enhances
  feasibility
• Partner with experienced, well capitalized ALF
  developer
• Recommendations
• Allow Medicaid reimbursements to agencies that
  offer ADL services in traditional congregate
  elderly housing
• Facilitate the dual funding of ALFs through HUD
  operating subsidy or project-based Section 8
  vouchers in combination with Medicaid
  reimbursement contracts

PARK PLACE
SEATTLE, WA