Building Models
1
Apartment Head Lease
The most sensible and affordable option is long-term leasing within an apartment complex. There are new buildings offering furnished apartments with housing and operational assistance, incredibly ideal for patients.
Short term rental regulations (STR) limit patients from using residences for under 90 days. We need an exemption to this provincial rule.
At a cost of $2500/unit/month, this is by far the most affordable option, removing the need to acquire land and design and build one's own facility from scratch.
It is the fastest path to implementation and is scalable.
2
Host Hotel/ Hotel Dev.
At least 50,000 hotel room nights are booked for patients every year but space nor rates are guaranteed.
Working with an existing hotel could solidify space and rate. Working with a hotel developer on new a build could create the opportunity for a long-term lease on multiple floors built economically and purposefully.
At a cost of $4,650/unit/month, we could select a current Host Hotel and drive patients to one location and set up third party billing.
3
Ground-Up
Think a Ronald McDonald House for adults. The current RMH has 73 rooms; the second RMH in Vancouver will have 75 rooms. You could easily assume the need for as much adult patient housing and caregivers. Land acquisition and construction costs turn this into a major project that would involve private funding. Operational budgets would rely on annual funding.
At a cost of $200 million+
Multi-use building proposals are an example
of hotel/residential use, either of which would be suitable for patient housing.
Vancouver based Nonni Property Group (NPG) plans an iconic 30-storey mixed-use tower in Vancouver’s vibrant Yaletown neighbourhood. The development will feature market leading rental residential units, state-of-the-art office space, and a bespoke 225+ room Marriott Autograph Collection hotel under Marriott International’s Autograph Collection brand.