CAI-NJ August 2021

retirement. Formerly close-knit families were scattering all over the nation. Some seniors realized the old neigh- borhood was full of new people and the old homestead no longer suited them. They were tempted by builders’ advertising for low-maintenance homes in attractive communities with amenities to enjoy with retirees who have similar interests. Numerous mature, adults-only villages were in existence when the Fair Housing Act passed in 1968, so its anti-discrimination language omitted age restrictions. The Housing for Older Americans Act of 1995 also allowed age limitations. Almost all communities now require one occupant of each household to be at least 55. Most people that age are still working, so the developments can no longer be called retirement havens. New Jersey has a few hundred 55+ HOAs, second only to Florida. Besides plenty of new construction, resale homes in senior villages have experienced high demand in 2021. However, the market for senior com- munities has not reached its full potential here in New Jersey. The Foundation for Community Association Research (an affiliate of the Community Associations Institute) reports that only 9% of New Jersey’s 55+ households are within an HOA. Nationwide, led by warm-weath- er states with sprawling senior develop- ments of thousands of homes, adult communities have attracted nearly 20% of that demographic group. As members of the huge Baby Boomer generation downsize their living quarters and transition to less work and more leisure time, New Jersey builders are trying to keep up. A prominent developer says he even

avoids using the word senior: “We’re trying to stimulate and play off of their desire to live longer, healthier, more energetic and vibrant lives”. The low-maintenance aspect of adult communities is shown by the fact that 86% of 55+ association homes in

New Jersey were built after 1970, compared to 39% of homes outside of an association that are occupied by people who are 55+. “Aging-in- place” modifications won’t be easy, because the median age of all own- er-occupied New Jersey housing stock CONT I NU E S ON PAGE 62

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