Urban cities have become a Who’s Who list of individuals from one of the largest population groups in America—baby boomers. While Millennials have garnered a lot of attention for their outspoken demand for urban and urban-inspired living, Baby Boomers are right there with them. Baby Boomers are moving into Downtown areas and central neighborhoods at such speed that home builders and residential developers are working to keep up.
Baby boomers represent about 76 million people born between 1946 and 1964. According to AARP, about 8,000 boomers will hit retirement age every year through 2025. With the strength of the health system, societal focus on wellness, and improved technology, individuals are living longer, more productive lifestyles than ever before. As a result, Baby Boomers aren’t content to finish up their working years and hang out in front of the TV. They want a sense of community and a cultural and active lifestyle. They have a strong desire to live in transit-oriented areas where they can easily walk or get to places to eat, shop, and enjoy entertainment and recreation. The city leading the charge for development? If you guessed Houston, you’ve hit the jackpot.
Convenience and Lifestyle Amenities
The impetus for many boomers to relocate from suburban areas to urban communities is convenience and lifestyle amenities. Now that their children have grown up, and their primary income-earning years are behind them, Boomers can settle in and turn attention to shifting priorities. Many Boomers want to live in a community where they have easy access to their favorite restaurants and stores. They’d like to stroll to a nearby coffeehouse for breakfast. They want to be in proximity to green spaces, playgrounds, galleries, and museums so they can entertain their grandkids. Central neighborhoods facilitate this work-live-play lifestyle—while also providing a strong sense of community and involvement.
Houston Chronicle published the article, “Baby Boomers, Millennials United in Search for Urban Lifestyle” in which the reporter explains that boomers are one of the demographic drivers for development in Houston. The experts interviewed for the story say boomers are key to the area’s resurgence, and that Houston is in demand for many reasons. Including the fact that the metro is affordable in comparison to cities like Manhattan. The article goes on to report that, within Houston’s Downtown area, evidence of an urban revival includes the development and expected construction of several projects: seven new office buildings that will add up to 8 million square feet, The Nau Center for Texas Cultural Heritage, The High School for the Performing and Visual Arts, and eight hotels.
Densely populated urban areas like Houston’s Inner Loop are also ideal for condominiums. They are ideal because the high-rise style of the buildings means development moves upward instead of outward, thus requiring a smaller land parcel. Developers are responding to the housing demand in Houston with amenity-rich homes that offer many of perks Baby Boomers want. Perks from resort-style pool to top-notch concierge services. Condos also provide coveted convenience for Boomers who are leaving single-family suburban homes to downsize and shed some of the responsibility of having to maintain a large home. In a condo community, the lawns are mowed, the greens are manicured, and the pool always sparkles.
In other words, the golden years are filled with platinum services.
