igniting a new ageless paradigm - archive -...
TRANSCRIPT
IGNITING A NEW AGELESS PARADIGM
ULI – March 22, 2013
Helen Foster, Foster Strategy, LLC
(504) 897-2236
The 50+ Market is EVERYONE’S MARKET Persons 50+ control over 75% of the nation’s financial
assets, AND they represent half of all U.S. homeowners.
The number of Americans aged 45-64 – who will reach 65 over the next two decades – increased by 31% during this decade.
Over one in every eight (or 13.1%) of the population is 65+. The ratio increases to one in five as the last Boomers turn 65 in 2029.
Persons reaching age 65 have an average life expectancy of an additional 18.8 years.
AN AGING POPULATION OUTLOOK & OPPORTUNITIES
FAMILY CHOICES INDIVIDUAL CHOICES
Nursing
Care
55-75 80-90 Entry
Ages
µ=Approx 60 µ=Approx 65 µ=Approx 78 µ=Approx 82 µ=Approx 84 µ=Approx 85
Age-Targeted
Community
Age-Qualified
Community CCRC
Independent
“Congregate” Living
55-75 70-90 70-85
Assisted Living
or
Alzheimer’s Care
80-90
Active Adult Service Enriched
AGE-QUALIFIED HOUSING THE 55+ HOUSING CONTINUUM
Foster Strategy, LLC - 10/12
Senior/Community Centers or Clubhouses
55+ Lifestyle Programming
Lifelong Learning
55+ Fitness/Wellness
Universal Design
Home Security
Coordination of Home Maintenance
55+ Transportation
Smart Home Technologies
Health Monitoring
Home Health
Long-term Care
Peer-to-peer recreation/companionship
AQ communities
promote quality
of life …
Senior/Community Centers or Clubhouses
Lifelong Learning
55+ Fitness/Wellness
Coordination of Home Maintenance
55+ Transportation
Long-term Care
55+ Lifestyle Programming
Peer-to-peer recreation/companionship
Home Health
Health Monitoring
Home Security
Smart Home Technologies
Foster Strategy, LLC - 10/12
Universal Design
ALL housing is
becoming more
“livable”!
As Community Livability increases,
it could weaken demand for age-qualified developments.
LIVABILITY
Foster Strategy, LLC - 10/12
THE “SMALL” MARKET FOR AQ …
A “BIG” CONSIDERATION
Age-qualified housing developers serve only a tiny fraction of the age-qualified audience … 3%, 5% (7% of people over 75 - NIC)
90% of consumers plan to “age in place” in a traditional home versus move to an age-qualified community (AARP, 2011)
RANCHO MISSION VIEJO
“You have to go
out on a limb
sometimes, because
that is where the
fruit is.”
Will Rogers
Rancho Mission Viejo will ultimately consist of 14,000 homes in South Orange County – 6,000 of which will be age-qualified 55+.
First phase will be released for sale in July … “an opening 22 years in the making.”
Consideration, commitment, and collaboration …
EXPLORING BEST PRACTICES INFORMING A NEW APPROACH
Active Adult Developments
- The Villages
- Trilogy - Del Webb
Retirement Communities
- Willow Valley (Lancaster, PA)
- Kisco (Carlsbad HQ)
- Greystone Communities (Dallas,
TX HQ)
- Erickson Communities
Masterplan Developments
-
Seaside/Watercolor (FL)
- The Woodlands (TX)
- Solavita (FL)
- Pulte
- Shea
Relevant Hospitality Developments
- Canyon Ranch
- Cooper Wellness
- Miraval/Andrew Weil
Best Places to Live/Retire
- Portland, OR
- Boulder, CO
- New Orleans. LA
- MetLife/AARP
“AGELESS PLACES” ARE “BEST PLACES”
Lifelong Communities,
Livable Communities,
Sustainable Communities,
and “Best Places to Retire” …
ALL are characterized by
similar criteria …
Ageless Places
Inter-generational Magnetism
Abundant/ Varied
Lifestyle Amenities
Ease of Navigability
Large-scale Universal Design
Support for Healthy Living
Security and Stability
Indoor/Outdoor Placemaking
AGELESS LIVING VS.
TRADITIONAL MODELS
Responsive to preference for
non-AQ neighborhoods …
unlocking the opportunity of the
90%
More diverse in product type
Universally designed, but “on
trend” with high aesthetic appeal
... thoughtful, but almost hidden
Attention to lifestyle and
intergenerational connections …
“at-will connectivity”
Lean toward established
paradigms and product types
More narrow market appeal
Exclusive emphasis on older
consumers, which can be
obvious in design and
programming
Ageless Living Traditional Models
Rancho Mission Viejo