According to the National Association of Home Builders (NAHB), the 55-plus housing market is showing continued growth as baby boomers age with a projected 66 million Americans expected to be over the age of 65 by 2025. For home builders that means smaller, more appropriately sized homes in communities and neighborhoods with amenities aimed at this group are also on the upswing.
For boomers smaller, right-sized homes with a floor plan that makes single-level living possible, but with space for visiting family members and entertaining friends, is the most popular choice, according to Kevin T. Orrock, President of Summerlin®, a master-planned community in Las Vegas, Nevada developed by The Howard Hughes Corporation®. As a leader in real estate development, The Howard Hughes Corporation has recognized this trend nationally among boomers and is putting a heavy focus on this growing market segment.
“Older home owners are selling their large homes in favor of an energy-efficient, right-sized home, often in walkable communities with a wealth of opportunities for activities and social engagement,” said Orrock. “Downsizing 55-plus buyers do their research—they know what they want, and they don’t want or need to settle for less.”
In Summerlin, The Howard Hughes Corporation is responding to this trend via a growing number of active adult neighborhoods, including its two newest offerings, Regency by Toll Brothers and Trilogy® By Shea Homes.
Set on elevated terrain at the base of a dramatic ridgeline in The Cliffs, Regency offers all single-story homes in nine unique floorplans ranging from 1,665 to 2,424 square feet and priced from the $400,000s. Regency homes feature a desert contemporary architectural style to complement the rugged beauty of the area, and they include gourmet kitchens, two bedrooms, up to two-and-one-half bathrooms and expansive living spaces. Several models include indoor-outdoor living opportunities with covered patios and courtyards. Ample flex spaces create opportunities for home personalization to suit individual lifestyles.
Regency’s resort-style amenities include a community clubhouse spanning more than 16,000 square feet with an indoor lap pool and outdoor resort-style pools; tennis, pickle ball and bocce ball courts, game rooms and an onsite lifestyle director who will schedule classes and plan social gatherings and outings. According to Danielle Bisterfeldt, Vice President of Marketing for Summerlin, living in an age-qualified neighborhood is a choice that provides homeowners with the opportunity to meet and build friendships with like-minded neighbors, travel with ease thanks to simplified home maintenance and enjoy time for personal hobbies and interests.
Rich Santomauro and his wife Ginny recently moved from San Diego where Rich served more than 30 years in the United States Navy Submarine Corps. The couple chose to make their new home at Regency.
“We wanted to live in an age-restricted neighborhood for many reasons, including the obvious: to be surrounded by neighbors of a similar age who enjoy living an active yet peaceful lifestyle,” said Rich.
“Plus we love Regency’s location in The Cliffs village that nestles against the mountain and provides a great view in multiple directions.”
Shea Homes is bringing its Trilogy® active lifestyle concept to Summerlin in a new neighborhood that is starting to take shape on South Town Centre Drive and Flamingo Road. Opening first quarter 2018, Trilogy at Summerlin is one of 17 such resort communities nationally that is designed and built for those who are turning the page from raising children and growing careers to an entirely new chapter. Attached homes, which share common walls with neighboring homes, offer floorplans that encourage entertaining and reduced maintenance, while the community’s activities, events, concerts, classes, and clubs offer many opportunities to enjoy life and maintain an active, healthy lifestyle full of fun and socialization.
Keeping pace with this active generation is the focus of homebuilders who are replacing yards with living patios, decorative landscaping, or optional flower beds for gardening enthusiasts. Other popular home features for Boomers include:
- Home offices to accommodate those who are transitioning from a 9 to 5 job or enjoying a part time second career
- Tech and media centers with top-of-the-line systems, including wireless home networks, remote control lighting and security features
- Better lighting and bigger windows to enhance natural light
- First-floor bedrooms and bathrooms
- Flex space to allow customization such as turning a guest bedroom into a hobby room, yoga studio or library.
“It’s all about giving boomers and empty nesters choices to live the way they want to, now that their life circumstances have changed,” said Bisterfeldt.
Developed by The Howard Hughes Corporation, Summerlin began to take shape in 1990 and has ranked in the country’s top 10 best-selling master-planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 6,000 gross acres still remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 26 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles – from single-family homes to townhomes– priced from the $300,000s to more than $2.5 million. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $900s.
About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 14 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com, or find us on Facebook, Twitter, Instagram, and LinkedIn.
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