Preferred Development has developed 40 senior care buildings in nine states with a total project cost of over $350 million.

About Preferred

Preferred Development draws upon over ten years of industry of experience to assist numerous private developers and owners to start successful projects. Our company has developed 40 senior care buildings in nine states with a total project cost of over $350 million.

Preferred Development takes a hands-on approach to analyze market demographics, assess competitive facilities and manage the development process.

Preferred uses an innovative interdisciplinary approach to development, working with property owners, government agencies, builders, architects, facility operators and financing sources to help create a successful end product.

Recent Projects

• Consulting to a manager of six CCRC’s to assist in the re-finance/acquisition of existing campuses.
  
• Successfully headed development and funding of a court contested 350 unit senior campus development in Northern Montgomery County, PA for Westrum Development Company.
  
• Obtained $24 million bond allocation and land development approvals for 212 unit senior campus and medical office building in a highly desirable location in suburban Baltimore.
  
• Worked closely with the Director of NJ HMFA in coordinating sources and soft dollars (including COAH funds) for three NJ projects.
  
• Assisted in the formation of a strategic alliance between developer/owner and a super-regional bank to obtain CRA credits for senior housing by investing in a geographically specific senior housing fund managed by a west coast investment bank.
  
• Assisted in land development and financing of 4% and 9% Tax Credit project with total project costs of $22 million.