As with almost every other aspect of society, baby boomers seem destined to transform the business of aging. As a result, the senior housing industry is likely to see the boomers force a redesign, as several new developments make a point of mixing age groups.
Take startup Cantina Communities, which launched last year and recently secured backing from the Mansueto Office, a Chicago-based investment firm. Cantina is preparing to break ground on its first community, located in Buda, TX, a small town 15 miles southwest of Austin.
The community’s concept overview describes the project as “creating a community-centric, sustainable, walkable neighborhood of small, one-story rental homes, all embedded in a thriving local community.” In addition, up to 20% of the units will be leased to individuals aged fewer than 55. (Boomers currently are aged 56 to 75.)
“I think it’s a really fun way to both learn more about our target customer, but also start to understand what does intergenerational living look like,” Cantina co-founder AJ Viola told the New York Times. The firm is targeting the Hudson Valley region of New York, the area near Lake Tahoe, NV or near Joshua Tree National Park in California for future sites.
Similar trends toward multigenerational living can be seen in the push for more university-based retirement communities, Donna Butts, executive director of Generations United, told the media outlet.
“I want to help create the world that I want to grow old in,” she said. “I knew I didn’t want to live just with a bunch of old people. I wanted to make sure that there were options.”