Bloomberg Businessweek Europe - 23.09.2019

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ILLUSTRATION BY INKEE WANG. PHOTOS, FROM TOP: COURTESY ASU. K. KOPTER. DARREN SOH. COURTESY TRILLIUM HOLLOW. DATA: ANDREW CARLE, GEORGETOWN

Housing

Last year, Joan Bailey, now 86, had a stroke and was

sent to a rehabilitation facility. “All I could think was,

if I just get back to co-housing, I’ll be fine.” For the

past 21 years, Bailey has lived in a multigenerational

community in Portland, Ore. “It’s why I’m still alive. I

find it to be very stimulating and interesting to have

all the different ages around.”�Arianne Cohen

UNIVERSITY-BASED

MIXED-USE

CO-HOUSING

Living Together

A 2018 Columbia University study found that healthy adults who reside in

multigenerational housing live longer. And a Pew Research Center analysis last

year found that Americans are increasingly residing multigenerationally—20%

of Americans live in a home that includes adults from two or more generations,

up from 12% in 1980. Developers have taken note. “Multigenerational housing

is becoming more common, though it’s still essentially in a startup phase,”

says Andrew Carle, adjunct faculty for Georgetown’s program in senior living

administration. “It’s because baby boomers all want the same three things:

active, intellectually stimulating, and intergenerational.”

Mirabella at Arizona State University

Tempe Scheduled to open in 2020

Residence in this 20-story glass tower comes with an ID card

for class and library access, plus the chance to engage with a

50,000-strong student body. The development, a nonprofit set up

by ASU and an operator of retirement communities, was built on

university land. Its swift success—90% of the units have already

sold—has stirred much discussion and led to copycats at colleges

and universities throughout the country.

Kampung Admiralty

Singapore

Public elderly housing in

a complex that includes a

220-child day-care center,

dining hall, supermarket, and

health center. The setup

encourages intergenerational

activities and bustle. Seven

government agencies are

behind the development,

including Singapore’s

housing, health, parks, and

transportation departments.

Trillium Hollow

Portland, Ore.

Set on 4 acres just outside the city limits,

this community has residents ranging in

age from 3 to 87. With no management

company, members run the homeowners

association, facilities, gardens, and meal

program. All decisions are by consensus.

FEATURES

● 304 apartments

● 4 restaurants

● Suites for future

private nursing,

assisted living, and

memory care

REQUIREMENTS

● 62+

● Healthy, independent

PRICE

● $350,000 to

$1 million

● $4,000 to $5,500 for

monthly maintenance

● $1,000 to be put

on waitlist

FEATURES

● 100 small units

(380 to 480 sq. ft.)

● Winner, 2018 World

Architecture Festival’s

building of the year

● 500-unit bike-share

hub

● Roof gardens, which

expand the already

extensive green space

of the property

REQUIREMENTS

● 55+

PRICE

● $90,000 to

$115,000

FEATURES

● 29 private

condos (studios to

4-bedrooms)

● 3-story common

house, creek,

community garden

REQUIREMENTS

● 6 hours a month

of community work

PRICE

● $175,000 to

$368,000

Three Models

31k Assisted living

2k Continuing-care

2k Active adult

2k Independent living

Estimated number of U.S.

senior communities