Table Of ContentSAN MIGUEL SENIOR HOUSING
DUE DILIGENCE REPORT
ANASTACIO MARTINEZ
MICHAEL HANEBUTT
CITY AND REGIONAL PLANNING
463
SPRING 2011
CALIFORNIA POLYTECHNIC STATE UNIVERSITY
SAN LUIS OBISPO
Table of Contents
Chapter 1 – General Description 1
1.1 Executive Summary 1
1.2 Project Description 1
Chapter 2- Case Studies 5
2.1 Case Study #1 5
2.2 Case Study # 2 7
2.3 Case Study # 3 9
Chapter 3 – Site Analysis 12
3.1 Location 12
3.2 Surrounding Development 14
3.3Existing Conditions on Site 18
Chapter 4 – Land Use Analysis 27
4.1 General Plan 27
4.2 Zoning 28
4.3 Cal Poly 2011 Draft Community Plan 29
Chapter 5 – Political Analysis 31
5.1 Community Support 32
5.2 Political Support 33
5.3 Political Process 34
Chapter 6 – Environmental Analysis 36
6.1 Introduction 36
6.2 Natural Environment 37
6.3 Human Environment 43
Chapter 7 – Market Analysis 48
7.1 Market Area Definition 48
7.2 Socioeconomic Trends and Characteristics 54
7.3 Attitudes, Perception, and Familiarity with Senior Housing in San 57
Miguel
7.4 Competitor Analysis 58
7.5 Quantitative Market Depth Analysis 60
Chapter 8 – Financial Analysis and Feasibility Study 63
8.1 Financial Analysis 63
8.2 Feasibility Study Assumptions 64
8.3 Feasibility Pro Forma 67
8.4 Feasibility Study Results 68
8.5 Feasibility Study Sensitivity Analysis 68
Chapter 9 – Report Findings 69
9.1 General Description Findings 69
9.2 Case Study Findings 69
9.3 Site Analysis Findings 70
9.4 Land Use Analysis Findings 71
9.5 Political Analysis Findings 72
9.6 Environmental Analysis Findings 73
9.7 Market Analysis Findings 74
9.8 Financial Analysis and Feasibility Findings 76
Chapter 10 – Conclusion 77
Chapter 11 - Sources 78
Appendix 80
Table of Figures
Chapter 1 – General Description 1
1.1 Selected Site 2
1.2 Conceptual Site Plan 4
Chapter 2- Case Studies 5
2.1 Mountain View Senior Apartments 7
2.2 Shaw Village 8
2.3 Sunshine 11
Chapter 3 – Site Analysis 12
3.1 Context Map 13
3.2 Site Location in San Miguel 14
3.3 Vacant House on 12th St 15
3.4 Vacant House on 12 St 15
3.5 Multi-Family Unit on North Side of 12th and N St. 15
3.6 Residential Structure on North Side of 12 St. 15
3.7 Residential Structure on South Side of 12th St. 16
3.8 Small House at the End of 12th St. 16
3.9 Trailers at the End of 12 St. 16
3.10 San Miguel Senior Center 17
3.11 Salinas River in San Miguel 19
3.12 Site Proximity to FEMA 100 Year Flood Plan 20
3.13 Site Analysis 21
3.14 Access to Bus Stop 23
3.15 Noise Map 24
3.16 San Miguel Fire Department 25
3.17 Park Map 26
Chapter 4 – Land Use Analysis 27
4.1 Current Zoning of Site 29
Chapter 5 – Political Analysis 31
5.1 The County of San Luis Obispo Board of Supervisors 31
5.2 San Miguel Community Workshop Conducted by Cal Poly 32
5.3 Example of an Affordable Housing Complex 33
5.4 Seal of the County of San Luis Obispo 34
Chapter 6 – Environmental Analysis 36
6.1 Clean Air in San Luis Obispo County 39
6.2 San Joaquin Kit Fox 40
6.3 River Terrace Landscape 41
6.4 California Fire Danger 42
6.5 Water Conservation Message for North County Communities 43
6.6 Archaeological Digs May Be Performed in San Miguel 44
6.7 San Miguel Fire Department 45
6.8 San Miguel Community Park 46
6.9 Railroad Crossing with Signals and Arms 47
Chapter 7 – Market Analysis 48
7.1 Radius Analysis 49
7.2 Age Categories within 3 Mile Radius of Site 50
7.3 Age Categories within 8 Mile Radius of Site 51
7.4 Age Category within San Luis Obispo County 52
7.5 Population Pyramid by Age Group in San Miguel 54
7.6 San Miguel Housing Tenure 55
7.7 Approved and Proposed Projects 56
7.8 Senior Living Facilities in North San Luis Obispo County 60
Chapter 8 – Financial Analysis and Feasibility Study 63
Chapter 9 – Report Findings 69
Chapter 10 – Conclusion 77
Chapter 11 - Sources 78
Appendix 80
Table of Tables
Chapter 1 – General Description 1
1.1 Unit Description 3
Chapter 2- Case Studies 5
Chapter 3 – Site Analysis 12
3.1 Average Climate 19
Chapter 4 – Land Use Analysis 27
Chapter 5 – Political Analysis 31
Chapter 6 – Environmental Analysis 36
Chapter 7 – Market Analysis 48
7.1 Percentage of Residents Who Relocated, by Distance Moved 50
7.2 Distance from Facility to Family Members 51
7.3 San Luis Obispo County Population Projections 53
7.4 San Miguel Population Projections 57
7.5 Workshop 3 Questionnaire Results 57
7.6 Competitor Analysis 58
7.7 Project Analysis 59
7.8 Fitch Analysis for San Miguel Market Base 61
7.9 Fitch Analysis for San Miguel and Paso Robles Market Base 62
Chapter 8 – Financial Analysis and Feasibility Study 63
8.1 Monthly Rents by Unit 64
Chapter 9 – Report Findings 69
Chapter 10 – Conclusion 77
Chapter 11 - Sources 78
Appendix 80
Chapter 1 – General Description
1.1 Executive Summary
The following report is a due diligence study on a senior housing facility located
in the community of San Miguel. Per Clients request, the Consultants
established a senior housing facility location (referred to as the Site from here
on) and a facility type and size (referred to the Project from here on) and
analyzed how the current development conditions would affect the
developmental process. The report will show that the Site provides a great
opportunity for development, the established land use allows a project of this
nature, the political climate favors a project of this type, and also determines
that the Project has little environment impacts. However through market
analysis research, the Consultants found that the Project may be too big for the
current San Miguel market base. The report concludes that under the financial
conditions assumed, the Project is a financially sound investment for the Client.
The purpose of this report is to provide the Client with detailed analysis,
concluding with findings that support a decision of the whether or not to build a
senior housing facility in San Miguel.
1.2 Project Description
Project Location
The Consultants conducted a site visit to San Miguel to select a site that would
provide the greatest opportunity for the success of a senior housing facility. The
Consultants narrowed the selection to parcels of land in San Miguel that were
either undeveloped or partially undeveloped, zoned Residential Multi-Family
(RMF), close to services and the central business district, and in a relatively safe
neighborhood. Using these site selection conditions, the Consultants selected
two parcels on East 12th Street (Figure 1.1). The site selected (referred to as the
Site from here on) consists of approximately 3.7 acres of undeveloped land. The
Consultants analyzed the Site in further detail in the Site Analysis Chapter.
1
Figure 1.1 Selected Site.
Project Description
After the Site was selected for the Project, the Consultants were able to analyze
the type and size of the senior living facility. Due to the nature of the Site,
(limited services and emergency response times discussed in the Site Analysis
Chapter) the Consultants determined that the senior living facility should only
incorporate independent and assisted living households. The Site would not be
an ideal location for a senior nursing home.
To fulfill the County of San Luis Obispo’s goals and programs (discussed in the
Land Use Chapter), the Consultants decided that all of the independent senior
housing units should be affordable households. In order to utilize Site location
and diversity while not compromising aesthetic beauty or functionality, the
Consultants established that the independent units should incorporate detached
housing units as well as townhome housing units. The Consultants established
2
Description:projects; Mountain View Senior Apartments in Ontario California, Shaw Village in. Austin Texas primarily between the 1950s and 1970s tourism in San Miguel are Mission San Miguel Archangel and the Rio Caledonia. Adobe.
