Welcome back to the Bobbi Decker Senior Spotlight! This week, we are excited to share data just released in Bloomberg Businessweek about a housing type that is not only increasing in popularity – but producing highly desirable outcomes!
The Pew Research Center has reported that 20% of Americans are now residing in multigenerational housing – which is an environment of two or more adult generations living together. Just last year, Columbia University found that healthy adults who reside in multigenerational housing actually live longer!
According to Bloomberg, developers have taken note – though progress of such options is still in the ‘start-up’ phase. Examples include:
– Mirabella: A 20-story glass tower at Arizona State University which provides residents an ID card for class and library access. With 90% of units sold, ‘copycat’ projects are emerging at universities across the US. The 304 suite types include private nursing, assisted living and memory care for those aged 62 and older. Units start at $350,000, plus $4,000 minimum for monthly maintenance.
– Kampung Admiralty: This mixed-use complex in Singapore merges intergenerational bustle through a blend of a 220-child day care center, dining hall, supermarket, health center, roof garden green space and 100 small senior housing units. The age requirement is 55+ years and an attractive price of $90,000-115,000 US dollars.
– Trilium Hollow: This member run (think no management company) community of residents aged 3-87 in Portland, Oregon features 29 private condos, a 3-story common house, creek and community garden. A price of $175,000-368,000 plus 6 hours of month of community work is a notable draw for this beautiful 4-acre setting just outside city limits.
Last week, The New York Times revisited a topic you have seen on our blog before: home sharing. As another fast-growing multigenerational trend, home sharing programs pair seniors who have extra rooms with guests who pay rent and may also assist with tasks of daily living, housework or errands. The arrangement often results in friendships, increased feelings of safety, decreased feelings of isolation and the ability to age in place longer. Similarly, co-housing bonds residents through companionship – but in the form of new or converted communities in which meals, outdoor space and social activities are shared daily. The majority of the existing, self-governed 170 co-housing communities are multi-generational, while another 140 are being developed. There are also 15 co-housing communities that specifically serve older residents.
Needless to say – if you thought assisted living was your only option as you age – think again! Active lifestyles, open mindsets and a greater appreciation for each other are changing the ways we age and even how long we live. A better quality of life and a longer one… why not?!
Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/