Cities Get Grey Influx

We’ve written before about a trend where older folk are retiring by moving into cities not out of them. Inspired by the facilities and entertainment close at hand, boomers are leaving suburbia for a city environment. A recent article in the WSJ reminds us of this trend:

In Denver, about half of the units in the recently completed Glass House sold to empty-nesters, despite youth-oriented amenities such as a videogame lounge and a Web site that promises “cool bars” and “a fresh vibe.” In New York, even a hot tub above the lobby and a provocative marketing campaign couldn’t keep boomers away from William Beaver House, slated to open next year. And when Viridian opened last October in Nashville, most locals expected the high-rise to draw young buyers looking for a chance to live downtown. It did, but it also attracted people like Julie Lammel, a speech pathologist in her early 50s who moved there from a suburb where most of her neighbors were in her own age group.”

Author Richard Florida comments:

New condos developed and targeted towards young, urban singles (with video game lounges etc.) are actually attracting empty nesters. This has led to generational power struggles over pools and condo boards!