The baby boomers, the massive increase in births that occurred between 1945 and 1964, started turning 65 in 2011. The population of people over 65 stood at just over 41 million people in 2011. With approximately 10,000 people turning 65 each day, the over-65 population is projected to grow to over 85 million by 2050.
The baby boomers have shaped the housing market for many years, and as baby boomers approach retirement, there is no doubt, they will shape the senior housing market for years into the future. Market studies indicate that as baby boomer age, they want to maintain an active lifestyle either within their own community, or a community near their adult children. While many seniors prefer to stay in their homes as long as possible, a higher percentage of the baby boomer generation, compared to the previous generation, desire an easier “carefree” lifestyle.
Senior (age restricted) apartment communities, villas, independent living and assisted living communities to provide luxury living options, much different than what we used to think of as “senior living”. Today’s senior living communities offer multiple options for active seniors, who no longer want the responsibility of owning a home, maintaining a yard and dealing with maintenance issues. Common amenities include concierge service, game rooms, fitness centers, movie theaters, swimming pools, putting greens, and more.
For much of the past forty years, The Douglas Company has been fortunate to work with numerous senior living developers and operators to design and build many outstanding senior living communities. The ongoing evolution of senior living is both challenging and exciting, and we are honored to be a part of this new wave in senior living.
Bob Ritter
Director of Business Development
The Douglas Company
