Younger baby boomers are still working and more likely to stay put, but older members of this generation are willing to move. However, what they want to move to will not be the same kind of planned community that their elders lived in.
Urban Land presents some of the misperceptions developers have about this market such as the more amenities, the better; boomers want to downsize, and they are willing to pull up roots, and profiles what some players in the 55-plus market such as KTGY Architecture + Planning, Atria Senior Living, and others are doing in this market segment.
“Learn your market,” advises Margaret Wylde, chief executive officer of ProMatura Group, a market research firm based in Oxford, Mississippi. “Understand what they want. Don’t copy what everybody else is doing. There are different markets even in the same city.”