“I lived in that neighborhood most of my life,” says Barbara. “Those are my old stomping grounds.”
Luckily, they found just the right place at Loretto Club, a project of home builder Pulte Homes. “We had our eye on this property,” says Randall.
Their new home will have a first floor master bedroom, so they don’t have to climb stairs. The community will handle exterior maintenance such as mowing the grass and shoveling the snow.
“I think you’ll see more of these developments popping up,” says Randall. “It’s a nice concept.”
Homebuilders understand that baby boomers are starting to retire and many are looking to downsize to new, hassle-free homes. They’re not necessarily looking to move full-time to the Sun Belt either. They want to stay near their family, social networks and health care providers.
So-called age-targeted projects, including those restricted to residents age 55 or older, are being developed in the suburbs. New condominiums and townhomes are available in the city as well.
In fact, new home starts in age-targeted projects were up 27.7 percent last year, according to Metrostudy, a Rosemont-based firm that tracks home building in the greater Chicago area. “We anticipate age-targeted development will continue to grow as a percentage of the new home market through 2020,” says Mark Gianopulos, director, Midwest Region, Metrostudy.