Good Management – The Key to Active Adult Community Success
Today’s active adult communities are growing in popularity in New Jersey and across the country, spurred in great part by the maturing U.S. population. As interest in activity-rich, amenity-driven lifestyles increases for the 55-plus group, existing age-restricted communities are working hard to adapt their facilities and programming in order to compete in the changing marketplace. At the same time, developers and builders are searching for the best strategies to make new ventures stand out from the crowd.
How can these communities succeed in this crowded market? FirstService Residential’s Michael Mendillo and Dr. Robert Misurell have written an article for Community Trend magazine explaining that active adult communities and property management organizations must work harder to understand and cater to the unique and changing interests of the generation now entering their gates — the baby boomers. These communities must work smarter to build a clear identity for their community, reflecting the experiences and values of boomers, and they must be ready to regularly reinvent that identity as new trends emerge. Meeting these challenges will require not only sound strategic planning and solid expertise, but also a commitment to invest heavily up front in new ideas. The rewards that follow — in the form of satisfied community members and a wealth of wealth of interested new buyers — will be well worth the effort.
Read the full articles in the June issue of Community Trends magazine on page 8.