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-4 - What we got involved with at Lakeshore Drive in Richfield was a large • section of the population, which turned out to.be waiting for an opportunity to stay in their community and still maintain ownership and maintain all of those advantages that home ownership brings with it. We would be approaching this project in three phases. The first phase, which is the most important:we see, is the type of project that I spoke of. You would have to be 55 to qualify to purchase into the facility, it would be 125 units, it would be market rate. The price range would be roughly $60,000 to $90,000.. I guess I should start off with all of these figures and numbers and totals that we're talking about at this time are a proposal. We are looking to firm up, analyze, evaluate and mature this overall proposal in the next months and ultimately years to come. We do not consider ourselves, even though we have had one very successful project recently,- to know everything there is to know about either a particular community or market segment. We have what we feel is a very good educated guess at this point and we intend to spend the next months in regard to phase 1, maturing those guesses that we're making at this time. That means that this proposal for phase 1 may be modified slightly in number of units, in size of units, mix of units and in.fact, the -overall design that we develop may change around within the context here. We do feel the total number of units has to be in this range, however. We do not foresee feasibility forourtype of project going below, I'll say, 120 units. We've got 125 here, it would be very difficult for this type of facility to go below 120 and still function and provide the services that are integral in this type of • project. This type of project does have services and support within it. In looking at this overall market segment, we're often confronted with the older adult that, I don't know what the current term is, someone who is over 55, over 65 or over 75, someone who qualifies to move into our project, has a lot of unique needs. I guess in this particular com- munity, want to stay in the community first off. They have got houses that they oftentimes have raised their families in. They have certain physical limitations, sometimes severe, sometimes not severe and often- times they have, as much as anything,,psychological limitations of their home and concerns in that regard. In order to satisfy those needs, their alternatives are few. Going to a nursing home is just too large a step. very few people who moved into Lakeshore Drive were ready for that type of step, but going to a facility that didn't have any support or level of support services was not making a proper transition for them. So, what we have got within this building,it starts off in a very important area, is a 24 hour security/emergency response system. That is really the core of a lot of things that developed in this building. You have a management staff that is responsible for maintaining the security in the building. Someone is dressed and on their feet 24 hours a day, not a caretaker type of unit that you would call and request assistance in whatever hour of the day, but so you have 24 hour a day support services. That just in itself, creates an umbrella of security. Our experience has shown that that, almost as much as anything, is almost a psychological type of security that answers many of the people's needs and many of • their family's needs. That is very important. We get oftentimes in the management office at Lakeshore, families calling up and saying, my mother