AGELESS & INTERGENERATIONAL

PLANNING PERSPECTIVES

Housing Conference – May 16 2014

Helen Foster

Foster Strategy, LLC

FosterStrategy@gmail.com

The 50+ Market is EVERYONE’S MARKET

Persons 50+ represent half of all U.S. homeowners.

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 POPULATIONOUTLOOK & OPPORTUNITIES

WHERE WILL WE LIVE AT 55+?

90% of consumers plan to “age in place” in a traditional home versus move to an age-qualified community (AARP, 2011)

Age-qualified housing developers serve only a tiny fraction of the age-qualified audience … 3%, 5% (7% of people over 75 - NIC)

“… Leading-Edge Boomers will not settle gracefully into a quiet retirement and decide to move to traditional seniors’ housing communities for years (if they ever do).”

John McIlwainULI, Housing in America, The Baby Boomers Turn 65

FAMILY CHOICESINDIVIDUAL CHOICES

Nursing

Care

55-75 80-90Entry

Ages

µ=Approx 60 µ=Approx 65 µ=Approx 78 µ=Approx 82 µ=Approx 84 µ=Approx 85

Age-Targeted

Community

Age-Qualified

CommunityCCRC

Independent

“Congregate”Living

55-75 70-9070-85

Assisted Living

or

Alzheimer’s Care

80-90

Active Adult Service Enriched

THE 55+ HOUSING CONTINUUMAGE-TARGETED, AGE-QUALIFIED, SERVICE-ENRICHED

55+, AGELESS & INTERGEN

Why AQ? • Needed by communities

• Wanted by consumers

As developers, we all serve consumers 50+, or we will

Ageless development and intergenerationalism: essential to the long-term appeal and sustainability of all built communities – especially age-qualified

“AGELESS PLACES” ARE “BEST

PLACES”

Livable Communities,

Best Places to Live,

Best Places to Retire,

and Best

Intergenerational

Communities …

ALL are characterized

by similar criteria …

Ageless Places

Connections with Others

Choice & Individuality

Mobility & Access

Livability & Aesthetic

Appeal

Health & Vitality

Security and

Stability

Inspiring & Fun Places –Indoor & Out

Ageless living … accommodates all, but with thoughtful attention to 50+ consumers

“Build for 50+ and you build for all,” but the reverse is not true … and so it goes for intergenerational programming

AGELESS LIVINGA NEW APPROACH

AGELESS & TERGENERATIONAL: PLANNING PRINCIPLES

Promote organic, “at will” connections

Seek to extend one’s current lifestyle (not too programmed, paternalistic or aspirational)

Start with family

Find “neutral ground”

Promote “aging well” in the community

Me My Group

Affinity Group

Mass

Meaningful Experiences

50+ Consumers …

WHAT DO THEY WANT?

RANCHO MISSION VIEJO

South Orange County, CA –A working ranch, a 25,000 acre reserve, and a 24,000 acre masterplandevelopment

Ultimately will encompass 14,000 homes, 6,000 of which will be age qualified 55+

Why “AQ”? – density, dual absorption, marketability

RANCHO MISSION VIEJO

Many builders. Masterplandeveloper handling development/programming of all community amenities and shared community assets

Desire to appeal to a broader market segment (than AQ’s standard 5%’ish)

A fresh approach to ageless living … “remove the barriers”

RMV: AQ APPROACH

Location as key amenity: naturally intergen

Leverage connections with the BROADER community – package the FULL experience

Provide depth, variety and relevance – but be mindful of scale (max value in HOA)

Promote “active” and “passive” uses of space, resident-driven programming

Promote intergenerational interaction, but thoughtfully mix separate vs. shared amenities

LIFESTORY RESEARCH - RMV

0% 10% 20% 30% 40% 50% 60%

Parks

Food & Beverage Facility

Meeting Room

Community Center

Arts & Crafts Room

Social Area

Game Room

Playground

Athletic Workout Room

Swimming Pools

Health & Fitness Center

Keep Feature Separate

Which features do AQ prospects (ages 50-69) want to keep separate?

Rancho Mission Viejo: Gavilan (55+) Clubhouse

Rancho Mission Viejo: Ranch House Pool & Splash Zone

Rancho Mission Viejo: Outpost Pool

Rancho Mission Viejo: Outpost Firepit

Rancho Mission Viejo: Guest House/Welcome Center

WILLOW VALLEY COMMUNITIES

A paradigm-busting continuing care community located in Lancaster, PA

Has attracted more than 2,500 residents from 37 states

In its most recent expansion, the average age at move-in in is 67

Delivers a thoughtful/expansive mix of “ageless” resident infrastructure and programming

Willow Valley Communities: Aquatics at The Cultural Center

Willow Valley Communities: Camp Willow

Willow Valley Communities: The Clubhouse (opens July 2014)

Willow Valley Communities: The Clubhouse (opens July 2014)