“A good part of this is the continued affordability of housing and the proximity and access to home and community-based health care,” Baker says. “Also, mega-retirement communities such as Sun City, Florida and The Villages in Orlando provide a quality of lifestyle in a single-family community setting.”

However, Baker argues, multifamily continues to have its place with this generation thanks to the vast numbers of Baby Boomers. Again, she says, access to lifestyle drives the success. And the “retiree” retail market is also heating up in conjunction with that trend.

“Affluent retirement communities such as Sarasota, Saint Petersburg and Palm Beach all have hi-rise waterfront condo developments underway providing water views, marinas, outside sports, concierge services, and more amenities,” Baker says. “This generation is large enough to support a variety of successful housing options. Further, these units are demanding prices higher than single-family residences and they continue to sell out.”

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.

ORLANDO—There is no doubt the aging US population—also known as the Baby Boomer generation—will impact healthcare and housing in Orlando and beyond. The question is how much.

The first Baby Boomers turned 65 in 2011, marking the beginning of 77 million retirees leaving the workforce. This is the largest group of older Americans the country has ever seen—and this demographic's demand for healthcare is expected to outstrip the supply of primary care physicians.

“We will continue to see more resources dedicated to home and community-based services versus costly hospitals and rehab centers,” Yvonne Baker, regional managing partner of Franklin Street's Orlando office, tells GlobeSt.com. “We see hospitals reaching further into the communities to place medical offices, treatment facilities and support locations to be able to still provide services but be closer to the users. The continued move into free-standing, multi-purpose locations bode well for the continued growth of medical office demands.”

Baker calls the trends in housing demands “interesting.” The Baby Boomers are surprisingly the second-largest group of homebuyers after Millennials. At the same time, for decades the share of seniors living in multifamily units has been shrinking.

“A good part of this is the continued affordability of housing and the proximity and access to home and community-based health care,” Baker says. “Also, mega-retirement communities such as Sun City, Florida and The Villages in Orlando provide a quality of lifestyle in a single-family community setting.”

However, Baker argues, multifamily continues to have its place with this generation thanks to the vast numbers of Baby Boomers. Again, she says, access to lifestyle drives the success. And the “retiree” retail market is also heating up in conjunction with that trend.

“Affluent retirement communities such as Sarasota, Saint Petersburg and Palm Beach all have hi-rise waterfront condo developments underway providing water views, marinas, outside sports, concierge services, and more amenities,” Baker says. “This generation is large enough to support a variety of successful housing options. Further, these units are demanding prices higher than single-family residences and they continue to sell out.”

Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.