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NAREE Opens in Houston

HOUSTON-The first day of the 38th annual conference includes a spotlight on the condo market as a panel of pros talk about trends in marketing, design and hot-buying habits of Baby Boomers. Today kicks off with a keynote address by Gerald D. Hines.

By Jennifer Brenner Andrade | Updated on May 24, 2004

HOUSTON-With an empty nest and most of the nation’s wealth in pocket, Baby Boomers are buying up high-rise condos all across the country as eager developers race to identify trends to stoke hot-buying habits and the appetite for in-town second homes.

A panel of experts discussed the condo craze at yesterday’s opening of NAREE’s 38th annual real estate journalism conference being held at the Hilton Americas in the Houston CBD. Michael Desiato, group managing director for the New York City-based Real Estate Media Inc. and NAREE president, moderated the panel of pros.

Michael Curtin, senior vice president of marketing and sales for Bonita Springs, FL-based WCI Communities Inc., said Baby Boomers are the “demographic sweet spot” as they fuel a second home-buying frenzy. He said 50% of WCI’s revenues are generated by its “sky homes.” To date, WCI has developed more than 45 high-rise properties along the Florida coastline. “Convenience and security are the two main factors in purchasing a condo,” Curtin said.

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