Lately, El Paso County developers have been submitting plans for “active adult communities.” While the current statistics do not show a large percentage of Coloradoans over the age of 65, the developers may be on to something.Colorado Springs was named the “Best Big City” in the July issue of Money Magazine. The magazine cited a low cost of living, great job opportunities and many recreational opportunities, all features retirees and aging baby boomers are looking for in a community.Ray O’Sullivan, owner of Santa Fe Springs, also said that Colorado is the “No. 1 choice (for) retiring military personnel.”O’Sullivan also is getting head start on the possibility that the Springs area will gain an older population. The first phase of his subdivision, Santa Fe Springs, which is currently under review by the county planning department, includes 168 single-family homes and hundreds of mixed units including low-maintenance patio homes and town homes – all targeted to older, active adults.However, will a “settlement” that sits east of Elbert Road and north of Judge Orr Road attract retirees and baby boomers?Many seniors are looking for the warmer climates of Arizona and Florida, but O’Sullivan said many older adults who live in Colorado will want to stay for at least the majority of the year.John Morley, owner of the Sterling Ranch subdivision, agreed with O’Sullivan. He has set aside about 20 percent of his development north of Woodmen Road for the same purpose. And Meridian Ranch recently constructed a large recreation center with a state-of-the-art workout center and indoor volleyball courts, with plans for an indoor pool. Those amenities, along with golf courses, are what buyers of all ages are looking for, said Meridian Ranch developer Doug Woods.U.S. Census figures show Colorado’s over-65 population is only 9.8 percent, well below the national average of 12.4 percent. But O’Sullivan and Morley are not banking on that age group. By the time their active adult communities are completed they will be marketing their homes to older baby boomers.According to a May 14 article in the Denver Business Journal, “Boomers control 70 percent of the nation’s wealth and 50 percent of all discretionary income,” plus “Colorado has the highest percentage of boomers to general population in the nation.”Census records also indicate people like to live in the state where they retired. That’s why states like Maine, Pennsylvania and Montana have a large percentage of retirees in spite of cold winters. While a number of those residents may flee to warmer climates during winter months, their permanent homes are in the north.The boomer population in Colorado may also be boosted by another trend. An Oct. 13 article on the AARP Web site reports California boomers are gravitating to the “New West,” defined as Colorado, Washington, Idaho and Wyoming. These states offer lower taxes, less crowds and access to outdoor recreation. Colorado is particularly attractive to California boomers who may have received large profits from the sale of their homes. They can afford to buy a home in Colorado and still save some of the equity or use it to travel.If the retirement trends continue, Falcon could be the next Sun City.
