Has anyone done a retail center that specializes in stores and other businesses for boomers (55+ crowd)? I am interested in getting a program of specific uses that this group would need for a new project near a retirement community. Thanks
Has anyone done a retail center that specializes in stores and other businesses for boomers (55+ crowd)? I am interested in getting a program of specific uses that this group would need for a new project near a retirement community. Thanks
Two suggestions: One would be to take a look at the data by age in the federal Consumer Expenditure Survey; this will tell you generally the retail categories where seniors are more likely to make purchases. I'm sure pharmacies are on that list.
Secondly, income (and wealth, since many seniors have limited/fixed incomes) is just as important as age in determining retail spending patterns. Are you talking about affluent seniors, low-income seniors, etc.? what is the price range of the housing units in this retirement community?
There are also market research companies that can assist you in identifying feasible retail uses.
I do a lot of planning for The Villages, Florida's Freindliest Hometown
Anywho, they have millions of square feet of commercial but with that much you have every kind of store. Unique stores include the golf cart store, the hearing aid stores, safe home furnishings stores, and plenty of pharmacies...
How big is the retirement community? To be specialized, you should have a huge population of old farts. Like Mud Princess mentioned, income and lifestyle preferences will be more important than age in determining spending patterns. Many older households spend quite a bit less than typical households, Also, be sure to consider if any portion of that population may be part ime residents. I would guess that the bulk of your center will be no different than any other center - neighborhood and community scaled retail such as pharmacies, groceries, fast food and other restaurants, hair salons, etc.
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Thanks for the help so far. Interesting stores Air Garcia! I like the idea. I'll look into your projects.
Originally posted by Lispp
As a footnote, with a City like The Villages (population probably over 70,000) it is a complete retirement community with multiple town centers. The cyclical probalm with that is lower or no incomes, heavy retail based economy and not enough people to work that industry. Those that do work the local retail industry don't get paid enough to buy in to the local housing mrket which creates a heavy shortage of workforce housing. Hope that makes sense...
I also do a lot of planning for the Villages (on the private side).. AG misses that at least 30% of The Villages workforce live at The Villages and work part time. Many do not have to work, but like the extra income and many do it just to get out of the house and add structure to their life. So consider that the center may have the ability to attract many retired part timers, but don't expect many to move in to work retail full time.
The Villages spans what, 4 counties now? Some predominantly rural? I know at least in Sumter County, they were thrilled to get a couple prisons due to high unemployment, so I can't imagine they are hurting for workers.
I'm not 55+ but I'm creeping up on it and for the most part, we want the same retail everyone else has. I like Kohls and World Market; RJ likes World Market and Hooters. Unless the population is very old, in which case you would need the hearing aid place and the geriatric docs, boomers are no different with the exception of not needing trendy nightclubs (but maybe a wine bar).
I skirt the north end of The Villages whenever I go to Orlando and boy are those people hazards on the road. They should plan for a "Slow Driver, I live in The Villages" lane. Just a thought.
ZG - Villages is in three counties - Lake (but entirely within the Town of Lady Lake), Sumter and Marion. I suspect that a lot of the "slow drivers" are from the many other retirement communities around The Villages. Spruce Creek South directly to the north, Stonecrest to the east, and a couple of miles north, Del Webb's Spruce Creek Country Club. The Villages are big attractors for shopping and entertainment. The Villages has a VERY extensive "transportation trail" system that has grade seperations at major arterials (tunnels except for the bridge over US 27/441). This system is for pedesterians, bikes, roller bladers and golf carts. The last O-D study done (2007) showed 75% internal retention of vehicle traffic.
There are night clubs there as well. Maybe not trendy, but entertainment is a very important component of the commercial mix.
Nope. Everytime I get off I-75, I'm behind a blue hair in a Lexus who toodles along at 40 in a 55 zone, finally turning into The Villages. The good thing is, the Shell station there has really clean bathrooms. Altho' you have a hour wait at Publix for a sub since they can't read the menu and can't make up their minds. Must drive the workers crazy.
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