Case Study:

John Knox Village

Market Intelligence and Master Planning Services Lead to Fast Presales

THE SITUATION

John Knox Village has been a Love & Company client since 2008. Over the years, we have worked together to transform the campus, enhancing wellness programs, healthcare services and independent living residences—all of which led to significantly increasing and maintaining census.

In 2018, John Knox Village initiated a master planning program that included the addition of a new aquatics center, a performing arts center and six new dining venues. For these additions to move forward, the community had to presell a major expansion of 146 large residences at a price point higher than any John Knox Village had offered in the past.

 

SERVICES:

Development Team Support; Market Demand Analysis; Residence Size, Mix and Pricing; Concept-Validation Consumer Research; Marketing Planning

WEBSITE:

JohnKnoxVillage.com

LOCATION:

Pompano Beach, Florida

146 Residences

RESIDENCE TYPE:

High-rise Apartment Building

THE STRATEGY

To help plan the new residences, Love & Company completed extensive market and competitive analyses, including detailed pricing studies, before mapping out a plan for the types, sizes and pricing of the new high-rise residences. Positive feedback from consumer research events validated the plans and pricing, giving John Knox Village confidence to introduce this more expensive product to the market. Presales began in April of 2021.

During the presales period, Love & Company provided high-level guidance on the overall marketing and sales program, reviewing progress and making recommendations for enhancements.

3D mockup of a John Knox Village mailer with an envelope.
3D mockup of a John Knox Village postcard.
3D mockup of a John Knox Village mailer with an envelope.

THE Results

The market responded as our research projected it would and John Knox Village achieved its financing goal by reaching 105 presales (72%) in only seven months, significantly faster than had been projected. By late 2023, just a few months before starting move ins (when turnover tends to be high), expansion sales held strong at 84%. In addition, census in existing residents remained steady at 92%.

If you’re interested in learning more about Love & Company’s comprehensive approach to planning marketing and sales strategies to overcome census challenges, reach out to Tim Bracken to see how we can help you create a plan for your community: 410-207-0013, or tbracken@loveandcompany.com.