The following was featured on New Home Source’s website in April 2017. You can read the original article here.
One of the traditional images of retired life is that of an age-restricted planned community with plenty of golf courses in sunny Arizona or Florida. This kind of community remains a popular model with both developers and residents.
But not everyone wants to retire to suburbia. Urban dwellers may not want to give up that lifestyle or want/need to stay close to family. Urban retirement has its benefits — walkability, access to public transportation, nearby amenities, etc.
“We’re seeing a trend with developers of [urban] dense projects across the board, particularly around transit hubs,” says Richard Murdocco, a New York City-based real estate expert and founder of The Foggiest Idea, a public resource on real estate development. He added that developers seem to be embracing urban retirement properties again to respond to population needs.