At one time people looking for retirement options thought about a place in the country or a suburban retirement village. But for the boomer generation, priorities are changing. According to a recent story in the Wall Street Journal large numbers are seeking condominium or apartment developments in some of the upcoming, hippest, lively and dynamic neighborhoods.
Hip urban neighborhoods are aging, as a growing chunk of adults in their 50s and 60s and older give up their longtime homes and head for trendy condos. The invasion of older, moneyed buyers has “created a gold rush” in some of these areas, says Dean Jones of Realogics Sotheby’s International Realty in Seattle. Mr. Jones’s firm sold 34 condominium penthouses and luxury town homes for more than $1 million in downtown Seattle neighborhoods between March and October of 2012—a large percentage to baby boomers. It was a 40% increase over the same period a year earlier. (More on this article here. )
Today’s retirees are looking for much more active later lives than their parents led. As such they are attracted to neighborhoods that offer some of the newest restaurants, shops, entertainment, groceries, health and workout facilities all within a short walk.
Both sites we are looking at fit this trend. North Mississippi is bustling and the N. Williams/Vancouver couplet is exploding with housing, restaurants, pubs all radiating out from the new New Seasons grocery. We are no way looking at million dollar condos, but we do like the buzz in the hood.