Guess who’s helping lead the back to the city movement. No, it’s not the proverbial yuppies, singles and gays, it’s empty-nesters looking for excitement and stimulation. Quoting William Frey, a Brookings Institution demographer, the New York Times highlights the trend of baby-boomers heading back to the city.
“Especially as they reach early retirement, as in ages 50 to 55,” Mr. Frey said,
“baby boomers will be testing out areas like New York for the longer
term.” According to a report issued by Mr. Frey with the
Mortgage Bankers Association in Washington last month, the baby boomers
who do not age in place or, like previous generations, move to sunnier
climes, will be lured into big cities. “You can’t really
compare baby boomers with previous generations,” Mr. Frey said,
“because boomers are forever young. They also have education levels and
cultural interests that would suggest they might be more likely to find
cities attractive.” The number of older residents moving into
New York and other cities is still smaller than the number who move out
to the suburbs or to places like Florida and Arizona, but demographers, economists and gerontologists say that
“in migration” numbers are sure to grow as baby boomers age.”
Here’s my own take on the matter from the current version of Who’s Your City.
Thankfully, we are way beyond the classic retirement community – god-awful monstrosities with names like “Leisure Village.” With the bulk of the baby-boomers now in their 50s and 60s, this is one of the most rapidly growing “neighborhoods” of
all. And, fortunately, they’re increasing in quality as well as quantity.From high-end lofts and condos in the city center, Designer Digs
neighborhoods where they can be around art, commerce, and entertainment 24-7 to
college towns and life-long learning, the options are endless.When it comes to finding a place to live,” the Wall Street Journal’s 2006 Guild to Retirement Planning and Living
wrote, “today’s retirees are looking for something completely different.” For years, the Journal’s report continued,
retirees flocked to the sun, warm climates and abundant golf, tennis and water
sports in places like Florida, California or Arizona. Not so much anymore. Today, while weather and
leisure remain important, retirees are looking for a community “where they can
make friends and connections quickly, whether it’s a small town or walkable
neighborhood in the big city.”Retirees are also looking for places where that can indulge
“post-work passions,” a second career, a newly adopted sport or be near their
grandkids. As John McIlwain a 62 year old resident fellow for the Urban Land Institute
was quoted in the story as saying: “Moving to a mixed-used development, a small
town, or seeking an urban experience are all elements of the same thing: it’s a
community where you get to know each other…. You’re walking around, and you get
to know your neighbors you get to know the shopkeepers, because you meet them
on the street.”A common refrain I hear: “We don’t want to be slaves to our house
anymore.” So it’s time to trade in the 4,000 or 5,000 square foot house in the
suburbs for an upscale condo or townhouse. The wives want social and cultural
stimulation; the husbands a place where they don’t have to worry about the
yard.





