Shifting demographics have made building housing for wealthy seniors in Southern California cities profitable.
"Rather than looking for large stretches of undeveloped land far from city centers, many builders are turning to so-called infill sites--small parcels of vacant land in otherwise fully developed communities, or existing properties that can be razed or renovated. Experts say seniors, often empty-nesters, are opting for these new living quarters because they want to move out of homes that have become too large for them but they want to remain close to their old neighborhoods. "
Thanks to Chris Steins
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Economic & Planning Systems, Inc.
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research