January 9th, 2020
The Biggest Trends in Master Plan Communities
Original article by Kelsi Mari Borland for GlobeSt.com >
Demand is robust in the master-plan market, particularly for 55-plus active adult communities.
Demand for master-plan communities is flourishing in markets across the country, particularly for the 55-plus active senior market segment. Buyers are migrating from all over the country to move into well-designed and amenitized communities. The senior demographic is expected to grow rapidly over the next decade, fueling demand for these communities.“
Activity varies market to market. In the regions we are building demand continues to grow, that includes Palm Springs, central Texas and coastal Florida,”Suzanne M. Maddalon, VP of marketing atFreehold Communities, tells GlobeSt.com. “Some of the strongest regions draw buyers from around the country. One of our Austin-area communities, Orchard Ridge, has many buyers migrating not only from the Austin core, but also from as far away as Alaska.”
The active adult segment is among the biggest segments of the master planned market, but the wants and needs of these users is changing. “There is an evolution of 55-plus community,” says Maddalon. “These are no longer attractive simply as a haven reserved for empty nesters. Rather, the boomer market wants the wealth of amenities of 55-plus communities, but integrated with buyers of all ages. Driving this is a desire for togetherness among generations, especially grandparents wanting to be with grandchildren.”
While families are spending more time together, the housing style is different than the typical multigenerational format. “Instead it’s multiple generations living in the same community,” says Maddalon. “We see this at our communities of Shearwater in South Florida and Headwaters outside of Austin, where the boomers move to a larger home, in part, to invite other family members to visit. Many of these buyers are “downsizing,” not necessarily to a smaller home, but to smaller yards. Or they are “down-mortgaging” to reduce their bills, but still have the comforts of a larger home.”
In terms of design style, the modern farmhouse is the most coveted today and among this market segment. “The rustic look has carried from original real farmhouses to custom residences, and now spreads to homes and clubhouses in planned communities,” says Maddalon. “Google ranked Farmhouse as the “Top Trending” home-design search of 2019, and it will only increase. The Orchard Ridge masterplan outside of Austin includes fresh takes on farmhouse style by local and national builders.”
The design style includes “antique-style lanterns dangled over quartz countertops, or barn-style doors hung on tracks in the foyer,” says Maddalon. “The architecture offers bay-window alcoves and a slender two-story profile updated from Prairie-style homes.”