Seniors Housing e-Source - 06/20/2005 (Plain Text Version)View Graphical Version | Subscribe
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Editor... In this issue: Building for Boomers & Beyond 2005 Highlights Big Changes for Active Adult IndustryThe 50+ housing market is transforming the way builders design and develop active adult homes and communities, according to experts with the NAHB Seniors Housing Council. Speaking at Building for Boomers & Beyond: Seniors Housing Symposium 2005 in Chantilly, VA, builders and architects say the demand is growing for smaller communities with interesting streetscapes and high-end homes designed for individual lifestyles. When the first active adult communities were launched in the 1960s, many were large, located in traditional Sun Belt states, and shared similar community format, design, and amenities. However, builders recognize that today's buyers are open to change, demand a variety of choices, and likely will consider a community close to home.
"For many buyers, the established concept of the active adult community conjures up images of boring, cookie-cutter neighborhoods with no opportunities for owners to express themselves," said featured speaker Bill Feinberg of Feinberg & Associates, P.C., a Voorhees, NJ-based architect and designer. "Builders understand that the active adult industry is rapidly changing. A single community formula will no longer meet the needs of mature consumers." Feinberg added that main-street communities, exclusive enclaves, and age-targeted villages within master-planned communities are gaining popularity. In terms of design, these youthful, individualistic buyers want diversity in street patterns and streetscapes, embrace natural features such as wetlands and open space, and favor smaller, more flexible communities. They also may not need a large community clubhouse, preferring more informal spaces that offer different experiences and a range of social and physical activities. While most active adult communities traditionally have been built in suburban locations, urban buyers command a greater share of the market, especially for condominiums, town homes, and multifamily apartments. Many buyers are empty nesters who expect a high level of service, spend more on upgrades, and are less apt to move to an age-qualified community. "Boomers are buying lifestyle," said Chuck Covell, president of Greenbelt, MD-based Bozzuto Homes and another speaker. "Today's 50+ buyers are more affluent and crave a sense of lifestyle when buying a new home. They are not buying solely based on price or location." Covell noted that boomers will continue to work in some capacity, with many trading their primary careers for a part-time job or a job that is more like a hobby. Builders must include high-tech offices and media centers in active adult homes to appeal to these buyers, who see themselves working well past the traditional retirement age. Boomers want first-floor living space, including a master suite, as well as high-end kitchens, luxurious master suites and baths, and high-tech media rooms. Building for Boomers & Beyond 2005 attracted nearly 700 builders, developers, architects, and other professionals who serve the growing 50+ market to Northern Virginia. The Symposium featured more than 20 education sessions, including the How to Get Started in Active Adult Housing course. Other highlights include a sold-out community bus tour, an exhibit area, the first Symposium/BUILD-PAC Golf Tournament, and a special performance by The Capitol Steps. The NAHB Seniors Housing Council thanks its exhibitors and the following Symposium sponsors: For more information about exhibitor and sponsor opportunities, contact Iain Mitchell by e-mail or at 800-368-5242 x8208. For more information or to contact us directly, please visit www.NAHB.org | ©2005, National Association of Home Builders |