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College Boomers

As Baby Boomers retire and seek intellectually stimulating environments known as “Learning-Driven Communities,” which are tightly intertwined with colleges, they will experience significant upticks in popularity, according to the recent New York Times article “Going Back to School, Without the Pressure.” Importantly, medical care near universities is usually cutting-edge, because universities have medical institutions that do ongoing research. Many, like Lasell Village on the campus of Lasell College in Newton, Mass., are managed by the college, and residents are required to take 450 hours of classes every year. An 80 year old resident summed up, “The courses keep people mentally alive. There’s also a lot of interaction with college students.” However college retirement entrance fees can be costly. At Kendal community at Oberlin College in Ohio, entrance fees range from $92,000 to $488,500 (the bulk of the fee is typically refundable at move out), and additional monthly apartment fees are $2,591 to $4,844 – both fees based on the residence size. Residents can also receive more intensive care like assisted living and nursing home care as they age. Baby Boomers will impact the concept of retirement housing. They may even help curb escalating college costs at the same time.

Susan Phillips, CEO SelectLeaders
May 7, 2014

About the SelectLeaders Job Barometer

The SelectLeaders Job Barometer, published since 2006, is the foremost survey of employment opportunities, trends, and hiring practices in the commercial real estate industry.

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SelectLeaders powers the Career Centers for 9 premier real estate industry Associations (whose members control or direct 90% of commercial real estate). Jobs are from all sectors and all levels with 29% paying over $100,000. SelectLeaders Job Network offers unequalled access to the Real Estate community. To learn more visit selectleaders.com or visit our Job Network Career Centers: BOMA, CCIM, CREFC, GlobeST.com, NAIOP, NAREIM, NAREIT, NMHC, PREA, Project REAP, ULI, NRHC

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