09 Aug Should CCRCs Expect A Redesign?
The Continuing Care Retirement Community (CCRCs) may expect to see an update to its model in the next few years. As a larger portion of the Baby Boomer generation nears retirement, these communities built before the age of internet connectedness may now need to rethink the model for a new type of retiree. The CCRC can no longer be a one-size-fits-all thought process as people have a greater ability to reimagine their own self.
A new distinction in the rethinking of the CCRCs is the value it creates. Experts in the CCRC industry argue that the product needs “make the person more”, not just give them more amenities and perks. The focus is shifting ultimately towards the betterment of the retiree on a personal level, allowing the opportunity to be fulfilled and the best version of themselves.
One of the challenges will be to do this in a way that is affordable. That’s why some leaders in the CCRC market are testing out pocket neighborhood designs that increase affordability as well as community connection. These developments are being tested in secondary and tertiary markets, allowing companies to test the product before bringing them into major markets.
As new consumers come into the retiree housing market, changes will have to happen. New iterations of a product naturally have to come about. The redefinition of the CCRC is just one way in which real estate is expending to be about more than just housing, but actually about creating a sense of place that helps in the development of the self.
What are your thoughts on the CCRC product? Are you a Baby Boomer, or trying to figure out how to build for Baby Boomers? With retirement around the corner for such a large populace, let us know what you think on Facebook, Twitter, or LinkedIn.