Marketing and Leasing


Opening New Communities-Marketing and Leasing to Project Stabilization

Tapestry staff has been successful in marketing efforts prior to the issuance of the Certificate of Occupancy and in sustaining high occupancy after completion of construction for senior housing facilities. Staff has been actively involved in opening and marketing many new senior housing campuses from the initial pre-marketing phase through full project stabilization. Services provided vary for each project:

  • Independent living – IL
  • Assisted living – AL
  • Memory care – MC
  • Care suites – CS
  • Rehabilitation services – RS

Listed below are selected prominent campuses in which Tapestry staff participated in opening new senior communities:

Regent at Burnsville
134 Units-IL/AL/MC/CS
Financing-HUD 232
Burnsville, MN

Parkshore Senior Campus
298 units- IL/AL/MC
Financing-Tax Exempt Bonds/ Freddie Mac
St Louis Park MN

Regent at Plymouth
120 Units-IL/AL/MC/CS
Financing-HUD 232/Tax Exempt Bonds/TIF
Plymouth, MN

Summit Place Senior Campus
265 units- IL/AL/MC
Financing-HUD 232
Eden Prairie MN

Shorewood Senior Campus
229 units-IL/AL/MC
Financing-HUD 232/Tax Exempt Bonds
Rochester MN

Village Shores Senior Campus
166 units-IL/AL
Financing-Tax Exempt Bonds/ Freddie Mac
Richfield MN

Colony at Eden Prairie
143 Units-IL/AL/MC/CS/RS
Financing-HUD 232/Tax Exempt Bonds
Eden Prairie, MN

Meadowoods Shores
106 units-IL
Financing-HUD 232
New Brighton, MN

Twin Rivers Senior Campus
98 units-IL/AL/MC
Financing-Conventional
Cannon Falls MN

Brightondale
75 Units-AL/MC
Financing-Conventional
New Brighton MN
 
Continuum of Care
By offering a full array of services at each facility, residents have the ability to “age in place”. In addition to assisted living and memory care services, supplemental services generally offered at Tapestry facilities include adult day care and physical therapy, which exposes care givers, future residents, referral coordinators and the general public to each facility. Subject to specific market and procurement of licenses, home health care and “Care Suites” may also be available.

Tapestry Corporate Executive Responsibilities

  • Creating facility leasing operations and initiating marketing prior to building completion
  • Retaining all third party marketing professionals to create structured marketing
  • Selection of software programs related to the marketing effort
  • Creating facility marketing budgets which are included in the Working Capital Budget
  • Creating marketing staff incentive programs
  • Coordinating personalized marketing programs
  • Continual oversight of marketing activity reports for results and accountability
  • Integrating the food service program and delivery of care as a component of the marketing effort
  • Utilizing RNs and LPNs in the marketing program to work with the project leasing team, families and referral sources

Initial Marketing, Leasing Facilities and Timing

  • Office space in the general proximity of the new facility is leased immediately after the closing
  • The marketing process is initiated within 60-90 days after commencement of construction
  • Upon issuance of the Certificate of Occupancy, the external office is closed and replaced by facility marketing offices

Tapestry Corporate Involvement-Initial Hiring of Facility Staff and Third Party Consultants

  • Tapestry corporate executives are intimately involved in all opening and pre-leasing activities
  • During the critical pre-opening phase, Tapestry executives are on-site extensively
  • Coordination of hiring of the Executive Director, Marketing Manager and Marketing Representatives
  • Meetings with potential referral coordinators from the community and hospitals

Third Party Marketing Professionals and Software Programs
In conjunction with Tapestry corporate staff, third party professionals with expertise in senior housing are retained to facilitate leasing and continued marketing coordination including:

  • Web marketing companies
  • Lead generation and management
  • Marketing task management
  • Referral source management
  • Marketing campaigns and budget
  • Integrated reporting systems to insure accountability

Marketing Budget

  • Significant marketing budgets for pre and post occupancy are included in the Working Capital Budget

Staff and Resident Incentive Programs

  • All marketing personnel are financially incentivized
  • Selected facility staff are also incentivized to facilitate high occupancy and quality of service

Personalized Marketing Campaigns
Tapestry executives have had considerable success in utilization of personalized marketing programs, which include supplemental responsibilities for all marketing representatives:

  • Create personal relationships with potential prospects and families
  • Respond to each potential resident and family with personalized incentives and gifts
  • Continual meetings in the home environment with potential residents and families
  • Continual follow-up with potential residents and families based on resident concerns
  • Potential resident incentives to provide referrals through friends and family members

Supplemental Personalized Marketing

  • Flexible Rental Agreement revised subject to the specific concerns of the resident and family
  • Specific units within the facility are reserved based on the desires of the resident and family
  • Customization of the reserved unit is available to the extent that it does not significantly impact the budget

Food Service Programs Related to Pre-Leasing and Sustained Occupancy
Food service is an important ingredient in the service as well as a key marketing component in pre-leasing and continued high occupancy.

  • Tapestry staff has experience in creating food service programs
  • Tapestry team has directed the food staff and meal delivery for many senior housing facilities
  • The team has experience in utilizing the food service program for marketing purposes
  • Tapestry created referral incentives through offering free meals for families and friends

Marketing and Employees
Employees
Each facility retains an experienced Executive Director and marketing employees. The hiring process for the Administrator and marketing employees is initiated immediately after construction begins. Typical employees related to the marketing effort include:

  • Administrator
  • Marketing Manager
  • Marketing Representatives (2)
  • Receptionist (2)
  • Certified Medicare Home Health Care Agency Administrator (facilitates Medicare and Medicaid reimbursements)

Pre-Opening Marketing and Licensing
Marketing begins immediately following closing. It is projected that approximately 10%-20% of the units will be pre-leased upon issuance of the Certificate of Occupancy. Occupancy is scheduled after acquiring the required licenses, which typically occurs within 30 days after the completion of construction. Tapestry executives and the facility executive director initiate contacts with the licensing authorities prior to closing and have continual contact during the construction leasing phase.

Lease-up
The projected leasing absorption is based on manager experience, local sub-market, overall occupancy rates and projections by the manager in conjunction with the third party feasibility group. Leasing absorption projections are conservative. The Working Capital budget is based on the projected leasing schedule, projected income and expenses through stabilization. Stabilization typically occurs in months 20-24 following the completion of renovation and construction. The proposed monthly Leasing Schedule is included in the Integrated Operating Pro Forma, which directly impacts Working Capital requirements.

Employee and Labor Management/Scheduling
Tapestry utilizes OnShift, the national leader in staff scheduling and labor management software for long-term care/senior living. OnShift provides on-line labor scheduling, which controls labor costs, improves resident care, promotes employee efficiencies and enhances resident occupancy.
onshift.com

Specialized Services that Impact Marketing

Healthsense
Healthsense helps senior care providers reduce costs, increase independence, and enhance caregiver and senior experiences. Families of residents are insured of immediate and continuous health status of residents:

  • Provider of aging services technology
  • Provides technology-enabled care solutions for the entire senior care continuum
  • Utilizes remote monitoring
  • Expedites emergency response and wellness management solutions
  • Automates and expedites the Nurse Call communications
  • Provides vital signs monitoring
  • healthsense.com

Physical Therapy/ Occupational Therapy/ Speech and Language Therapy Rehabilitation Services

  • Services are typically coordinated in partnership with a local hospital or national service provider
  • Hospital partnership insures facility referrals
  • Facility services support the Hospital Readmissions Reduction Program required by the Affordable Care Act
  • Private furnished units for overnight stays are available in both assisted living and memory care
  • Tapestry Immediate Admission Program
  • On site Certified Home Health Care Agency to facilitate admissions and reimbursements
  • Opportunity to expose potential residents to the facility

Respite Care Availability

  • Private furnished accommodations and à la carte services
  • Existing rehabilitation patients and residents can access service
  • Patients recovering from a hospital stay through the Tapestry Immediate Admission Program
  • Caregivers who need a vacation
  • Unexpected events that require an array of services on an immediate basis

Trial Program

  • Flexible short term program, which allows potential residents to experience facility services
  • Furnished units available in assisted living and memory care
  • No long term commitment
  • Opportunity to expose potential residents to the facility

Digital Marketing
Tapestry utilizes the services of groups like Fathom Delivers and Caring:

Lead Support and Marketing Strategies
Tapestry utilizes groups such as GlynnDevins:

  • Optimize sales through lead conversion
  • Implementing incentive programs for future residents and current employees
  • Lead tacking tools and follow-up
  • glynndevins.com

Marketing Campaign
An experienced company will be retained to coordinate and implement various marketing efforts:

  • Occupancy Improvement Solutions
  • Enhanced Sales Traffic Programs
  • Marketing and Sales Management
  • Direct Impact Test Marketing
  • In-Depth Market Research
  • Media Planning & Placement
  • Ongoing Lead Generation
  • Mystery Shopping of Competitors

Government Subsidies Supporting Marketing Efforts
Tapestry facilities are typically funded by residents through private pay sources. However, Medicare and Medicaid provide selected coverage for various services. Tapestry will operate a Certified Home Health Agency (CHHA) at each facility. The CHHA can provide:

  • Long-term nursing and home health aide services
  • Help residents determine the level of services
  • Arrange for other services including physical, occupational, speech therapy and medical supplies/equipment

The Administrator of the CHHA will coordinate the reimbursement of eligible Medicare and Medicaid services, which will further support the marketing efforts.