Case Studies
20 Aug
Case Study | Fleet Landing
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About Fleet Landing

Established in 1985, Fleet Landing is a not-for-profit, entrance-fee based Continuing Care Retirement community in Atlantic Beach, FL. Fleet Landing has enjoyed success since opening in 1990, growing its campus to include 354 independent living units, 56 assisted living units, 24 memory support units, and 67 skilled nursing beds.

Creating a Strategic Growth Plan

While Fleet Landing’s consistent investment in its campus had yielded success, the board and management team recognized that continued long-term success would require more substantial strategic thought. As a result, Fleet Landing engaged Greystone to assist in creating a strategic plan for the organization, with a focus on enhancing their existing campus as well as exploring potential opportunities to grow its brand in greater Jacksonville, FL.

This plan was completed over a three-month period. After a healthy amount of dialogue between Greystone and the Fleet Landing stakeholders, they identified four key guiding principles:

  • Improve market position by building off of Fleet Landing’s core competencies while serving the same target market
  • Build brand awareness while staying true to the established culture, mission, vision, and values
  • Attract and retain the internal and external talent necessary to achieve the objectives of the strategic plan
  • Solidify financial strength by achieving liquidity, margin, and capital ratios that ensure future viability of Fleet Landing for current and future residents

The strategic planning process identified the improvement of the existing campus’ market and financial position as the highest and best strategic action. This led to Fleet Landing asking Greystone to assist them in creating a campus master plan.

Campus Master Plan in Action

Upon completion of the campus master plan, Fleet Landing hired Greystone to assist with development and marketing for the expansion. The project included 128 additional independent living apartments, an expansion of 38 assisted living apartments, 30 new skilled nursing beds, and significant additions to and renovations of common areas, including new dining.

The project reached 100% pre-sales within five months and closed its financing in December 2018. Initial occupancy began in late 2021, and reached stable occupancy nine months later.

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