Full-Service Commercial Development Capabilities ~ Site Location and Planning, Due Diligence, Architecture and Construction Management

Beginning in 2003, Wilkinson Corporation began to make its mark in senior markets. As values for senior properties began to rise significantly over the next few years, it became apparent that the need to diversify into the development and construction side of senior housing would be a strategy worth pursuing.

With Wilkinson's broad real estate capabilities coupled with the growth and proficiency of Wilkinson's wholly-owned senior housing management company, Good Neighbor Care, Wilkinson Development had the ability to assemble a fund and provide a full-range of services to accommodate investors from property identification, planning, architectural oversight and due diligence, to construction, lease-up, management and—once stabilized and meeting Wilkinson's criteria for favorable market conditions—the eventual sale of the property.

Wilkinson’s First Development Fund

In early 2007 Wilkinson Development Fund I, LLC was formalized and quickly became a popular investment vehicle with many of Wilkinson's legacy investors, along with a good number of new fund participants. Before long the fund had built up the equity needed to begin it's proposed three-property portfolio in Illinois.

The first community to open its doors was Good Neighbor Care of Sterling, (August, 2008) followed by two nearly identical buildings in Washington and Pekin, IL. (Opened in June and September, 2009 respectively.)

In the first quarter of 2011, after some of the most challenging economic times in recent history, these three communities found themselves with a net occupancy of more than 90% and a strong positive cash flow. In March of 2011, the Washington community reached 100% occupancy… an amazing feat for Wilkinson Development Fund I and for Good Neighbor Care as the lease-up operator.

The Road Ahead for Wilkinson Development

One aspect of the real estate industry that Wilkinson is all too familiar with is the continual ebb and flow of ever-changing markets. At no other time in modern history has that concept been more apparent with credit markets in crisis and decreased values in both residential and commercial real estate sectors. The overall stability of the senior markets, along with the exponentially growing need to accommodate the millions of baby-boomers that are just beginning to reach retirement age, Wilkinson Development’s construction projects forge ahead. At the same time, along with the rest of the Wilkinson Family of Companies, Wilkinson Development is looking for opportunities in other areas of real estate.

Wilkinson Corporation began to build its successful foundation twenty years ago on turnaround properties, many of which required development and construction services to complete or add-on to existing projects and properties. With the addition of Wilkinson Development into our stable of subsidiaries, the Wilkinson Family of Companies is better prepared than ever to capitalize on the many changes in real estate markets.

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