Dayspring Senior Living | SBDC UNF

Success Story

Dayspring Senior Living

This is an important step for ALF care in Florida and Tracy at the FSBDC at UNF was a big part of making this project happen.

When Douglas Adkins and Dayspring Health, LLC decided to open a second assisted living facility, he came to the Florida Small Business Development Center at the University of North Florida (FSBDC at UNF) seeking assistance, and Nassau County Business Consultant Tracy Nazzaro was there to help.

Doug was already the sole owner of a 116-bed assisted living facility in Hilliard where many of the residents struggle with symptoms of schizophrenia and schizo affective disorders. He owned a 36-acre piece of property near his current facility and had the vision to build a new facility that would serve the needs of low-income seniors and meet the new federal home-like requirements for those receiving Medicaid.

Tracy’s business expertise, from helping Doug develop a strategic business plan to creating a construction budget and comprehensive cash flow forecasts, enabled him to get to the next step of securing financing.

Doug had everything he needed to obtain a loan and with Tracy’s guidance he was able to secure $2.2 million in financing for Phase I of his project. Tracy referred him to Small Business Resource Network (SBRN) member Bob Burris of Gulf Coast Business Finance to assist with securing financing of this important venture. The project was financed using the SBA 504 loan program with Gulf Coast Business Finance and Jacksonville Bank as the lending partners.

Dayspring Senior Living – Assisted Living Facility will feature the latest technology in care management systems, supervision and services designed to support the needs of seniors who struggle with cardiac-related health problems and diabetes.

The 36-acre campus will have options that will best fit the needs of seniors within their price points. Once complete, the campus, that will feature 180 licensed assisted living facility beds divided among 7 separate buildings and a 40-person adult day care center, will have more than 80 employees.

The new Dayspring Senior Living project is a ground-breaking facility in that it is the first in Florida to be built in any of the 32 rural counties not connected to a municipal water supply or waste water system. The new campus will have its own waste water and potable water systems that will serve the entire campus.

With the wide variation in housing options and price points, it is expected that this new approach to senior housing in the rural communities will provide seniors and their families with flexibility and options that allow for shared living spaces and private rooms all within grasp of moderate to low income seniors.

“This is an important step for ALF care in Florida and Tracy at the FSBDC at UNF was a big part of making this project happen.” – said Douglas Adkins, CEO – Dayspring Health, LLC

Dayspring Health, LLCDouglas Adkins, CEO

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