Developer offers concierge care to luxury condo buyers

An Atlanta real estate developer is offering a unique perk to lure buyers to its multimillion-dollar condominiums: two years of medical services in the comfort of home.

MD on Call, an Atlanta-based, self-described "boutique practice," entered into a partnership with City Centre Properties LLC of Atlanta to provide residents of The Mansion on Peachtree hotel and residence with a basic services package that includes much of what a family medicine physician would do in the office, from a throat culture to wellness care to an ECG.

The cost to the developer is $15,000 per year per unit, said Clark Butler, co-founder and president of City Centre Properties, said.

While hospitals have partnered with hotels to offer health care packages, no real estate experts or medical groups contacted knew of another time when medical service was offered as a real estate perk.

Whether other developers will follow suit is debatable. Executives at City Centre see it as a nice amenity and would consider offering the perk at future developments.

But a real estate professor calls it a gimmick that won't catch on.

"There's a reason for these giveaways -- developers don't want to post lower prices. But developers aren't in the business of selling health care. I haven't seen this type of perk before, and I don't expect widespread adoption of it," said Morris Davis, PhD, assistant professor of real estate and urban land economics at the University of Wisconsin School of Business in Madison and former economist with the Federal Reserve board.

In Atlanta, various estimates show condominium sales falling more than 50% since last year, with vacancy rates going up by more than 60%.

The Medical Assn. of Georgia isn't familiar with the MD On Call agreement, but MAG Executive Director David Cook said, "We will no doubt continue to see innovative free-market initiatives like this emerge as the health care system evolves." Cook said he doesn't anticipate any unique issues with the service from a MAG standpoint.

Ellen Frauenthal, MD, an emergency medicine physician and founder of MD On Call, called the partnership a great way to expand on what she enjoys doing -- helping patients in a place where they feel comfortable.

"That is why I make house calls," she said.

Like other concierge practices, MD On Call services are not covered by insurance. Each annual retainer covers a specified number of hours, depending on size and needs of the family. Residents would have to pay extra for services not covered under the basic package. MD On Call's three physicians limit their load to fewer than 100 patients each.

City Centre officials put the service on par with other benefits it offers its residents, who are paying between $2.5 million and $12.5 million for condos ranging from 2,500 square feet to 8,700 square feet, said Paul Cullen, vice president of City Centre Properties. Other amenities include butler and concierge services, a spa and restaurants.

Butler said he specifically contacted Dr. Frauenthal because he was impressed with the practice's credentials and the in-house services it offers. Plus, "Their client base is our client base."

Dr. Frauenthal said MD On Call got involved after City Centre Properties officials realized that the luxury lifestyle amenities they offered were of little use without good health and personal, accessible health care.