Where are all the Boomers going?



The following are excerpts from two of many articles I have found that address baby boomer retirement. I believe we need to examine the boomers and adjust our community values to both attract and accommodate the "new" generation of retirees. Currently more than 75% of our property owners are retired and relatively affluent. Strip mall and hotel developers are not going to reinvigorate our residential community and return home values to where they should be. If we wait for outside interests to create some sort of commercial presence in five to ten years from now, we may miss an opportunity to make our own changes that we will most likely have to make eventually, if we want to remain a viable community. The 2010 census shows that Longboat had a shift in demographics where the number of residents decreased by 41% in a decade. The generation that made Longboat great are no longer here. We need to find a way to welcome a new generation.  The boomers are the answer and we need to find a way to bring them to our community.


Retiring Boomers Impact Demand For Housing

By MARCI SHATZMAN, October 11, 2009

Jeffrey Katz has been selling real estate for seven years to house hunters in the adult communities, and in the past two years he's noticed something new. "Boomers are focused on how old the community is," said Katz, who's with REMAX/Advantage in western Boynton Beach. They think a new community will attract younger seniors. "They want to be among their contemporaries and not their parents' [generation]," he said. Katz said 90 percent of his clients are Baby Boomers who are moving here to retire or buy a second home.

Baby Boomers take on Retirement


May 2, 2010 By Joni
 
The active lifestyle that baby boomers have enjoyed throughout their working life continues into their retirement life. It isn’t enough to just be not working anymore. They demand more from life. Everything this generation does is studied and surveyed. They were the first to be targeted by market analysts and set new standards for generations to come. How business markets to the boomers has also changed. The priorities set by the boomers, no matter what the venue, have become the standard across the country.


The activity level of the newly retired has also impacted our communities. Well known for their activism in political and social issues their entire lives, this generation has brought that energy to their personal lives as well. No longer is a house in the suburbs enough. Now communities are being built to once again feed the need of this aging generation. These communities include a wide variety of amenities to attract these seniors. Fitness centers, walking trails, social outlets and hi-tech security systems are the new standard for these neighborhoods. Convenience to shopping and community centers located nearby is a must. Golf courses, complete with a country club atmosphere, are hi-lights that are very attractive to the active senior and not to be ignored.

We are at a difficult juncture between two generations that has a particularly profound impact on retirement and second home communities. Longboat Key is unusual in that it is almost entirely retirement oriented. On top of that the climate encourages a majority of the residents to seek cooler places for much of the summer. Additionally, aside from the village at the north end, a predominance of large condominium complexes and the lack of a viable community center do not contribute to a sense of community. Each condominium is in a sense self-sufficient. We have wonderful clubs and organizations that are made possible by the efforts of dedicated individuals. We have the Key Club that is the jewel of the island. However, the club is more exclusive than inclusive because of high membership costs that prevent a majority of Longboat  residents from finding a sense of community there. Times have changed. Boomer studies are revealing that the next retirement generation wants to belong. They are active and social.

Longboat Key offers an unusually attractive shopping experience only a few minutes away at the circle and downtown Sarasota. Many thriving retirement communities would love to have such sophisticated shopping so close at hand. I lived for a time in the Hollywood Hills in Los Angeles. On a good day it might take an hour of fighting traffic congestion to reach shops in Beverly Hills. And those were weekdays.

What we do not yet have to offer the boomers is that sense of being part of a vibrant social and active community. Yes we have amenities but they are underdeveloped. We need to open up our beaches to perspective residents. Bike riding on this island is at times dangerous. I have been in many communities that have in the past decade adjusted to the times and created new and attractive activity experiences for their residents. Perhaps the time has come to also change with the times. It could be fun.