OnePoint’s role and responsibilities included:
- Creating the positioning strategy and development program (unit mix, sizes, and pricing)
- Providing detailed financial analysis and projections
- Managing the team of professionals supporting the expansion (architect, marketing, construction manager, etc.)
- Keeping the planning and pre-construction process on time and on budget
- Leading the effort to pivot the entire plan of finance for the project late in the pre-sales process as the financing climate abruptly changed, and managing communication with the underwriter (Ziegler) throughout the process of closing construction financing
- Working with McLean leadership to communicate with and maintain the support of the Board of Directors during a period of uncertainty
- Working with McLean leadership and the team of professionals to achieve presales thresholds to trigger construction financing, all in the midst of COVID-19.
OUTCOME:
McLean closed on a $64,685,000 bond issue in late July to fund construction of an expansion of 55 independent living units, and add brand-new amenities to its already idyllic campus.
Despite a challenging environment, McLean’s management and board leadership remained steady and focused on the long-term strategic vision of the organization, and its leadership’s commitment and support was critical to navigating through the challenges of the project and the unprecedented circumstances of COVID-19 to make the project a reality and allow McLean to continue its tradition of providing unparalleled care and services to its residents, families and community. The expansion will further strengthen McLean’s service offerings, as well as its already strong financial foundation. We at OnePoint are proud to partner with such an amazing organization as McLean, and are excited about continuing our work with them to bring this project to life. Construction on the expansion began in June 2020 and is scheduled to be completed in August 2022.
OnePoint touch included
We create dynamic financial models built for fluctuations, change, and expansion.
Positioning your organization’s big picture capital strategy for growth, uncertainty, and reality of a changing world.
We create dynamic financial models built for fluctuations, change, and expansion.
Does Your Organization or Facility Need Guidance, Growth Strategy, or Help with Positioning?
Our team provides expertise that will support your vision and success.
Call Erik at 857-288-8177 to get started!
Contact Erik Dalen