1. A Cross College Multi-Disciplinary Course in Senior Housing Design and Development Susanne Ethridge Cannon Associate Professor of Finance and Douglas and Cynthia Crocker Endowed Director The Real Estate Center DePaul University

2. Faculty Members • Susanne Cannon, Associate Professor of Finance and Director of the Real Estate Center, DePaul University, Chicago, Illinois • Thomas Gentry, Assistant Professor, College of Architecture, Illinois Institute of Technology, Chicago, Illinois • David Middleton, Associate Professor, School of Visual Communication Design, Kent State University, Kent, Ohio.

3. Course Details • Three Universities • Three Disciplines • Three Separate Courses • Shared Expertise • Teleconferenced • Web Based discussion and course materials

4. The Project • One site, 8 teams, 3 disciplines • Senior affordable housing • Urban/Mixed use

5. Schedule Week 1-3 • Week 1 Introduction to Building Systems and Housing Design; TV lecture from IIT • Week 2 Market Analysis/Demographics, Introduction to UrbanPlan Project; TV lecture from DePaul (Guest Lecturer: Alan Plush, Healthtrust.) • Weekend Kent trip to Chicago, Environmental Design studio visit • Group Meeting 1: UrbanPlan Project Workshop; DePaul University • Architecture visitations • Week 3 Introduction to finance, plus Guest Lecture on Stateway Gardens

6. Schedule Week 4-7 • Week 4 Client meeting; The Davis Group Presentation on Senior Housing Finance; TV lecture from DePaul University • Week 5 Design Programming; TV lecture from Illinois Institute of Technology • Week 6 Schematic Design; TV lecture from Illinois Institute of Technology • Week 7 Marketing/Finance issues, Guest Lecture Jerry Finis, Pathway Senior Living

7. Schedule Week 8-10 • Week 8 Branding/Identity; Guest TV lecture from Kent State University • Week 9 Way-finding; TV lecture from Kent State University, Guest Lecturer Kelly Kolar • Weekend Group Meeting 2: Project All Day Workshop; Illinois Institute of Technology • Week 10 Finance review, plus Construction management, Guest Lecturers Jim Keledjian, Pathway Senior Living, and Michael Faron, O’Neill Construction. TV lecture from DePaul

8. MBA Student Evaluation • Urban Plan

9. MBA Evaluation (part 2) • Memos (do 5 of 8) • Market Research and Analysis Demographics and trade area issues; Demand analysis; Supply analysis • Developing the Firm’s Strategy Market segmentation ; Branding and identity; The value proposition • Site Selection and Entitlements What makes a good location?; Site acquisition strategies; Zoning and otherpublic policy issues; Building code issues • Financial Feasibility What makes a project feasible?; Operating cost and margins; Revenue and expense per resident; NOI growth and variability; Operating deficit analysis and sensitivity; Capital expenditures; Financial leverage/operating leverage; Regulatory issues: development and operations; Valuation: Discounted cash flow analysis – NPV/IRR

10. More memos • Senior Housing Design Issues Design Theory and design reality; Design materials; Sustainable design/Life cycle cost; • Way-finding • Project Financing Equity Sources: private, venture capital/opportunity funds, public; Deal Structure; Debt Sources; Construction and Permanent Financing; Underwriting and credit risk issues; Role of bridge and mezzanine loans • Construction Process Types of construction agreements, alignment

11. Project Deliverables • Market analysis and demographics • Site selection • Zoning and other public policy constraints • Financial feasibility • Capital sources • Architectural design • Construction process • Marketing and branding • Wayfinding

12. Professional Engagement • Guest speakers • Juried Competition

13. Presentations • Template • Boards • Video