1. Senior Communities in Maine
Evolution, Impact and Opportunity

2. Sea Coast Management Company
 Develop, own & operate senior communities
in Maine including:
 OceanView at Falmouth (CCRC)
 The Highlands of Topsham since (CCRC)
 Highland Green (Active Adult)
 Communities currently include over 400
cottage homes, 200 independent living and
100 assisted living apartments. Another 400
homes are approved for development.
 Almost 1,000 residents and 300 employees

3. Overview of Presentation
1. Evolution. Evolution of the marketplace over
the last 30 years
2. Impact. Community and Economic Impact
of Senior Communities
3. Opportunity. Preparing for / attracting
Senior Communities

4. Who is the customer?
 WW II Generation
 Conservative, College
Educated WASPs
 Responsible Financial
Planners & Crises Driven
 Solid Financial
Background – savings,
home equity & pensions
 Many from outside of
Maine
 Respectful
 Baby Boomers
 Increasingly diverse in
every way
 Culturally / Socially
 Politically
 Financially
 Driven by lifestyle
 Financial Reality
 An increasing number
from Maine
 Demanding

5. What are they looking for?
 The World War II Generation
 A safe, secure home in an attractive,
quiet community
 Relatively simple homes with modest
finishes
 Access to the continuum of care --
healthcare

6. 1980’s Triplex Cottage at OceanView

7. 1990’s Duplex Cottage at OceanView

8. 1990’s Single Cottage at OceanView

9. A 1990’s Neighborhood at OceanView

10. What are they looking for?
 The Baby-Boomers
 Lifestyle
 Active & Healthy
 Neighbors and involvement
 Amenities
 The basics – complete maintenance free living
 And more – cafes, pubs, pools, exercise facilities,
conservations areas, trails, golf, etc.
 The Continuum of Care
 They might not be as explicit about their need for the
continuum but they also strongly value it.

11. Recent Additions at OceanView

12. Lifestyle Amenities at Highland Green

13. What are they looking for?
 The Baby-Boomers & Home Design
 Larger homes with finished basements &
second floors
 Ability to customize
 High end finishes / bells & whistles
 Tall ceilings / lots of windows
 Energy efficiency

14. New Cottage at OceanView

15. New Cottage at Highland Green

16. Interior Design

17. What are they looking for?
 The Baby-Boomers & Community Design
 Single family homes and/or the sense of a single
family home
 Strong sense of community but privacy in their home
 Neighborhoods and walkability
 Community-Center and common areas
 Exercise Facility
 Conservation land / trails / sustainability – green space
 Involvement in community design

18. Community Design at OceanView

19. Community Design at Highland Green

20. Green / Sustainability at Highland Green

21. What are they ALL looking for?
 Assisted Living and the Continuum of Care
 Want to stay as independent as possible for
as long as possible. A senior community with
support services allows them to do this.
 Want to avoid any additional moves
 Want to make sure their spouse is cared for
 Want to avoid a nursing home
 Hospitality v. Institutional

22. What are their options?
 Senior’s Current Home
 The number 1 desire of everyone is to remain in
their home for as long as possible.
 This is the number 1 competitor for all senior
communities
 Like home health care, there is a growing trend
toward providing soft, support services in the
home.

23. What are their options?
 Independent Living –
Cottages
 This has been and will
continue to be the fastest
growing market segment
for senior housing.
 Key to successful
development is balancing
the customer’s desire for
size and amenities with a
marketable price.

24. What are their options?
 Independent Living –
Multi-Unit Buildings
 An lower-priced / higher
density alternative to
cottages in both rural and
in town locations.
 The key will be balancing
density with a sense of
single-family living and
privacy.
 These are not the
duplexes and triplexes of
a decade ago.

25. What are their options?
 Independent Living –
Lodge or Congregate
Living Apartments
 Some possibility of this
product becoming
obsolete with the shift
toward cottages.
 Evolving into a new form
of light assisted living
 Older, smaller
apartments becoming a
more affordable
component of senior
living communities.

26. What are their options?
 Niche Products – Historic Homes

27. What are their options?
 Affordable Senior Housing – New Construction

28. What are their options?
 Affordable Senior Housing -- Historic Rehabilitation

29. What are their options?
 Standard Assisted Living
 Yesterday’s nursing home
 Non-medical support services delivered in a non-medical
environment
 An essential component for a full service senior housing
community.

30. What are their options?
 Memory Supported Assisted Living
 Increasingly important product as the
percentage of seniors with some form of
memory loss / dementia grows
 Important to provide different products for the
physically challenged v. the memory
challenged
 Increasingly specialized field

31. Available Senior Communities in Maine?
 Project Sponsors
 Individual developers
 Hospital sponsored projects
 National companies
 Financial Models
 Life Care
 Rental Projects
 Cooperative Ownership
 Entrance Fee
 Fee Simple (non-retirement community)

32. OceanView – Economic Development Impact
 Senior communities are green and growing with high
taxes, low services and no impact on schools.
 OceanView and its residents are the number #1
taxpayer in Falmouth with an assessed value of over
$32,000,000 and tax revenue of almost $400,000 in
2008. Estimated to surpass $1M by 2020.
 The residents of OceanView invest tens of millions
of dollars into the local community and its
businesses.
 OceanView generates dozens of local permanent
and temporary jobs both directly and with vendors.

33. 33
Topsham – Economic Development Impact
Original TIF Agreement Actual
Tax Revenue Projected Taxes Tax Revenue
1996 - 2005 2009 2009
$68,742 $1,256,124 $1,444,970
Original TIF Agreement Actual
Assessed Value Projected Value Assessed Value
1996 - 2005 2009 2009
$5,092,000 $63,900,000 $112,126,853

34. OceanView – Community Development Impact
 An informal community center by opening
regular events, services and facilities to the
public.
 Many of the residents of OceanView come from
Falmouth and/or their adult children live in
Falmouth.
 OceanView has several intergenerational
programs with the Falmouth school system
 OceanView and its residents help support a wide
variety of Falmouth groups, organizations and
initiatives
 TIF funds can be used to support a wide variety
of eligible community projects

35. OceanView – A Sustainable Community
 It is located in the center of town on public sewer
& water.
 Connecting roads and a low volume of traffic.
 Walkable community with sidewalks and trails.
 Private community transportation programs and
access to public transportation.
 The lodge buildings are 2 ½ story inn-style
shingled buildings located in the center of the
community and the cottage homes are modest in
size and clustered in attractive neighborhoods.
 It includes historic preservation, land conservation
and energy conservation.

36. 36
Attracting Senior Communities – Economic Incentives
 TIF = “Tax Increment Financing”.
 Communities use this tool to encourage a
particularly valuable type of development –
senior communities are:
 Green
 Growing
 Anti-sprawl
 High taxes
 Low services
 No school impact

37. 37
Attracting Senior Communities – Economic Incentives
 Developers use a TIF to:
 Obtain better financing for a project
 Overcome a major obstacle to development
 Pay for major, long term infrastructure
 Reduce the risk of a major expansion
 Provide the confidence necessary to embark
on a major, multi-year project
 Provide additional revenue source to weather
economic downturns

38. 38
Attracting Senior Communities – Planning Incentives
1. Existing Ordinances v. Political Process
2. Large Planned Development v. Standard
Subdivision
3. Certainty (reduce risk)
4. Density (improve financials)

39. 39
Attracting Senior Communities – Planning Incentives
Ordinances
 Retirement Community Overlay District (Falmouth)
 Adopted ordinances specifically designed to support /
allow a retirement community
 Flexible Use of Current Ordinances (Topsham)
 Elderly Housing Ordinance (Topsham)
 Good density / no net residential calculation
 Density bonus for affordability
 Contract Zoning

40. 40
Attracting Senior Communities – Planning Incentives
Affordable Senior Housing
 Low Income Tax Credit via Maine State Housing
QAP
 Highly competitive process
 Selection by Point on Application
 Support of city or town crucial
 Approvals
 Revitalization Zone
 Affordable TIF
 Public grant

41. Conclusion
Senior Living Communities are:
1. Green and growing
2. Strong economic / community impact
3. Municipal support and preparation key to
attracting new projects and helping existing
projects expand