Future of Active Adult Could Lie in Delicate Balance of Health Care, Lifestyle
Baby boomers are likely interested in accessing some health care services in active adult communities — but they might not want to call it “health care.”
Driven by a belief that older adults want a product that stands apart from traditional independent living communities, developers are creating a new generation of for-rent active adult properties across the United States. Many active adult developers and owners are building communities that resemble multifamily apartments, with a slightly more robust framework of amenities, services and programming on top.
Rarely do these communities include a health care component — but there is evidence that doing so might be a good idea, especially as more baby boomers age into the property type. And some large players in the field — including Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) — are finding creative ways to introduce health care into active adult communities, while still keeping consumer preferences for a lifestyle-driven experience at the forefront.