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Teaching Note HBS Case Collection October 2014 Making Room for the Baby Boom: Senior Living |
Tom Alperin's firm National Development is an experienced multifamily and commercial developer in the Northeast. It has a strong track record for working on challenging projects, delivering high quality products and generating strong returns for his investors. The firm purchased a well-located, heavily trafficked site in the wealthy suburb of Wellesley, Massachusetts. The highly visible site has a tarnished history as a result of the previous owners' attempts to force a 68,000 sf retail project upon the town.
The team believes that the town of Wellesley would be more accepting to development if the project could help address the senior living needs of the aging resident population as well as satisfy some of the mandated state requirements for affordable housing.
They are trying to decide whether to build apartments, their demonstrated expertise, a combination of independent living and assisted living, areas in which they have some experience, or perhaps consider higher acuity facilities.
Keywords: Housing; Age; Investment Return; Construction Industry; Real Estate Industry; Massachusetts;
Wu, Charles F., and Ben Eppler. "Making Room for the Baby Boom: Senior Living." Harvard Business School Teaching Note 215-029, October 2014.
