Project Description

The Danvers State Hospital project involved a comprehensive response to the state governed Request For Proposals (RFP).

The project team was assembled and prepared highest and best use development scenarios. We determined that developing a senior housing campus represented the best interests of the parties involved. The RFP response included architectural, engineering, and land plans; development and operating pro formas; a market study; operating, sales and marketing plans; construction estimates and schedules, and financing structure.

The basic architectural program involved the adaptive re-use of the significant historic structures existing on the site while preserving the mature landscaping and natural environment.

Project Summary: A 300+ senior housing residential development on a 70 acre campus which housed a former state hospital and had numerous historic structures in disrepair

Total Estimated Project Cost: $75,000,000-80,000,000

Financing: Syndicated Tax Credits, public and private debt

Primary Services: Development Management related to project concept, due diligence, team assembly, RFP preparation and presentations.