Retirement Living shake up to cater to boomer’s rock and roll lifestyle

The next wave of retirement living is on its way and operators are readily adapting to the varying needs of baby boomers.

Speaking at the Property Council Retirement Living Conference Jeff McGarn discussed the importance of marketing retirement living to boomers as more than just a place to live, but as a way to stay connected to family and friends while embracing an array of new opportunities.

“The retirement living industry must always remember the choice to move is am emotionally driven one. When attracting residents, villages must ensure people have a connection to the brand before they will be willing to make a commitment.

“Being original and aligning your villages with the right personality and spokespeople can also have hugely beneficial implication on the sale of units.

“Most of all, operators must be willing to embrace the latest technologies in the marketing on villages, as they next generation of seniors are more technologically savvy than ever before,” Mr McGarn said.

Connecting people was a key theme of the conference of more than 100 industry professionals, which took an inside look of the village lifestyle from residents themselves.

Security was at the top of the list of needs and wants for residents. With most residents being women, it is essential they not only feel secure in terms of gates and alarms, but also secure in their decision and secure within their sense of community and place.

But how do we as an industry create places, that connect community and make residents feel secure? TPG and Placematch’s Lisa Montgomery and Carla Chatzopolous discussed the thinking behind place making.

“Retirement is now considered a person’s second bounce. It’s a time when the kids have left home and seniors can embrace a new and diverse lifestyle,” Ms Montgomery said.

“There is no doubt that people are looking for places that offer a point of difference, that are both functionally and socially in line with the local surroundings. There is a great focus on catering to a wide range of ages. Intergenerational living, is the biggest trend we are seeing, and as place makers we must accommodate that.

“When looking at a space we design it with 8 year-olds and 80 year-olds in mind, if we can satisfy both parties there is a good chance those in between will also enjoy the space,” she said.

However, the industry is currently facing the issue of a looming undersupply. By 20 we will need an additional 24,000 units if we are going to meet the demand.

Currently legislation is hindering industry efforts to meet those needs through the restrictive memorials system. Placing a memorial on land earmarked for retirement living, hampers develop efforts to incorporate retirement living with other uses such as mainstream residential, commercial etc.

This can often make projects unviable leading to a shortfall of seniors housing.  It’s time the legislation was changed to reflect the changing needs and wants of WA seniors.

The Property Council would like to thank event sponsor Jackson MacDonald and our Retirement Living Partner, Perrott Painting.