The concept of a "senior community" is shifting before our eyes. While once a haven exclusively for retirees and baby boomers, younger generations (still actively engaged in their careers!) are forcing builders to rethink modern senior living communities. The perks they seek? Independent living with multi-generational interaction, levels of care and amenities that suit diverse needs, and reimagined spaces that not only support a robust social life, but deliver luxury amenities.
Younger Generations Seek Amenities and Wellness
Communities once labeled "retirement villages" are beginning to change in a big way, with some being redesigned to attract younger qualifying residents. While low-maintenance living appeals to active adults of all ages, the community clout that you find in a resort lifestyle community now goes beyond social activities at club house events. Coffee shops, spas, co-working spaces, and a refreshed approach to other amenities now attract a younger audience... long before they need assisted living or access to skilled nursing.
"Taylor Morrison’s resort-lifestyle brand, Esplanade, provides unique opportunities centered around signature resort-style amenities and wellness programs with an emphasis on holistic living to invigorate the mind, body, and spirit," shared Cammie Longenecker, President of Resort Lifestyle at Taylor Morrison. "Residents of all ages are attracted to our Esplanade communities, and there are many features that are especially appealing to younger generations." In fact, she goes on to share that 30% of the residents at Esplanade in Fort Myers, Florida are under 55 years old, and 25% even have children. "[It] has a strong mix of families, empty nesters and retirees."
For many, it appears to be a feasible alternative to living in a high-end, bustling, walkable neighborhood. "In the past, many younger generations considered this type of lifestyle unattainable and initially gravitated towards city living; however, they are finding that lifestyle less appealing due to traffic, congestion, crime and high costs for limited offerings," highlights Longenecker. "Esplanade communities offer a more attractive alternative, with gated entries, more green space, and a wide range of residential offerings at attainable price points that allow for equity growth. From on-site luxury resort experiences including wellness and spa treatments, dining options, fitness and sports courts to concierge services such car detailing to exclusive travel opportunities, residents can live like they are on vacation every day while enjoying conveniences designed for today’s busy lives."
The younger audience is committed to fitness and wellness. "Esplanade communities also feature golf programming or on-site 18-hole championship golf courses," she noted. "According to the National Golf Foundation, interest and participation in golf continues to grow, especially among Millennials and Gen Z. Golfers ages 18-34 now represent the largest group of on-course players."
Longenecker adds, "In addition, according to a report published in 2023 by the U.S. Surgeon General entitled, Our Epidemic of Loneliness and Isolation, nearly one in two adults in America report experiencing loneliness. We are experiencing a relationship renaissance as many younger residents have a strong desire for connectivity again post-pandemic, and our Esplanade communities offer an incredible space to meet people and make meaningful connections."
How do older residents feel about this?
As I learned about Esplanade and realized this is a growing trend, I definitely reflected on my grandparents' 55-or-older community and their POV on the "young retirees" who move in as soon as they meet the minimum age requirement. It understandably changes the dynamic of a community, but given the post-pandemic desire for connectivity and inclusivity, did they really care if their neighbor was decades younger?
"Regardless of where a person is at in their wellness journey, the desire for quality of life and longevity is driving mature demographics to seek out Esplanade," shared Longenecker. "This demographic is also driven by creating a more purposeful life and embraces similar aspects as younger generations such as concierge services, resort amenities, connectivity, clubs and programs, and more."
A greater repositioning on community is taking place right before our eyes. "We like to say 'reinvent' rather than 'retire,' and our communities foster this mentality," noted Longenecker. "In fact, approximately 50 percent of retirement age residents in our communities decide to continue to work, not necessarily due to financial pressures, but with today’s flexibility to work from home and a desire to stay engaged."
Overall, she highlights that there's a universal desire for a purposeful life. Multiple consumer segments are present in the community, and with the presence of different generations, it isn't uncommon to see parents, children and grandchildren connecting and spending time together.
Unlike 55-plus communities, are these communities more “work-friendly,” with co-working spaces?
"Yes, our communities are welcoming and offer a variety of flexible spaces that accommodate residents’ needs for work," notes Longenecker. "Residents can also enjoy a range of on-site amenities throughout their workday. For example, one might grab a coffee in the morning at the Toasted Café before starting work, walk to the wellness center to get in a quick workout during lunch, and network with clients at the Bahama Bar or Culinary Center. Our Esplanade communities offer a variety of spaces that inspire creativity and our concierge services can also support remote work."
