Victory at Verrado – TRIPointe Zeroes in on Boomers
November 13, 2017
TRIPointe Group, Inc., Irvine (NYSE:TPH) on Monday announced a new initiative and strategy for appealing to the baby boom generation and its considerably different lifestyle compared to previous generations.
In a press release, the company stated, “Expanding on comprehensive market research indicating a shift in the needs and desires of today’s baby boomer home buyers, TRI Pointe Group … is taking a new approach to planning and building for this life stage. With an opportunity to deliver enhanced lifestyles to this booming buyer demographic, TRI Pointe Group’s ‘Life360™’ platform elevates current standards for community placemaking by taking an authentic approach to location proximity and high-level design. The ‘Life360’ platform leverages TRI Pointe Group’s large-scale resources while tapping into the local expertise and relationships of its regional builder brands to create communities carefully optimized for baby boomer living.”
As explained by TPH CEO Doug Bauer: “As the baby boomer generation approaches the longest unencumbered time of their lives, their desire is not to slow down, but to reset, recharge, and re-engage. While some are following the traditional path of retirement, many are continuing to work full-time or enjoying encore careers. This is a departure from the path their parents typically took and reflects this generation’s wide-ranging tastes and needs in all aspects of life, including what they desire in a home and a community. We not only recognized the need to introduce a diverse home and community aesthetic for this dynamic group, but also to specifically focus on the regional interests of our buyers, while delivering communities that are centrally located and offer active and social atmospheres.”
According to research cited by TPH, $8 trillion, or almost two thirds of the nation’s home equity, is held by the 75 million people who comprise the boomer generation. While 50% of these home shoppers over the age of 55 would consider living in an age-restricted community, research shows that 53% of them cannot find the kind of compelling and vital community they desire.
“TRI Pointe Group has built a strategy that is boutique versus institutional across its builder brands – one that resists boomer stereotypes, finds meaningful connectivity within each community, elevates and localizes home design, and creates opportunities for engagement with the kinds of activities and experiences that are a continuation of the boomer generation’s pioneering spirit,” Bauer said. “Our ‘Life360’ platform focuses on building communities in close-in locations near jobs and family, providing our buyers with opportunities to continue working and be actively involved with their children and grandchildren. We will provide value to the market by carefully evaluating and delivering both age-targeted and age-restricted neighborhoods with a variety of home sizes, designs, and amenities in desirable locations.”
The release continued, “Execution of these new communities is based on a tailored approach to create neighborhoods with more expressive and individualistic community place making that provides robust social calendars for diverse boomer interests, on and close to the property. Integrating such communities adjacent to or within all-age master planned communities in close-in locations also affords the opportunity for boomers to be near family and a wider range of age groups while still benefiting from exclusive amenities. This localized strategy exemplifies TRI Pointe Group’s approach of using place making as a theme to differentiate its communities and provide meaningful connectivity between its residents, the local community, and the surrounding region.”
All of TRI Pointe Group’s future age-restricted and age-targeted communities, including the six currently underway by builder brands Pardee Homes, Maracay Homes, and Winchester Homes, are conceptualized based on TRI Pointe Group’s ‘Life360’ platform. Each community draws inspiration from the four components of ‘Life360’ – vitality, adventure, connectivity, and style – to guide location selections and lifestyle offerings as well as home and amenity designs.
Pardee Homes’ gated and age-restricted community, Verano, is one of five distinct new neighborhoods nestled within Aliento, Pardee’s all-age master-planned community in Santa Clarita, California, one of the largest cities in Los Angeles County. Verano’s 95 innovative single-story home sites allow home buyers the opportunity to customize their home’s layout, such as two-story loft options if additional space is needed for hobbies or visiting family and friends. Aliento’s various amenities including the contemporary Terrace clubhouse, Paseo Trail and future dog park connect residents, while The Club at Verano is a combination of social hub, peaceful retreat, and fitness center, designed to bring boomers together.
Altis, Pardee Homes’ master-planned community currently in development in Beaumont, California, is poised to set dramatic new standards for 55+ lifestyle communities. Within the thriving Sundance all-age master-planned community, Pardee’s plans include a 16,000-square-foot residents’ club, The VuePoint at Altis, to serve as the epicenter of the community, with nearly 3,000 square feet of additional exterior covered patios. The residents’ club design takes a modern approach to the California ranch house art form and is defined by its embrace of open spaces and seamless connection between indoor and outdoor living. Altis will also cater to today’s baby boomer consumers’ desire to live near the thriving job market of the Inland Empire, while also offering a walkable community by providing 22 acres of parks connected by an extensive trail system. Upon completion, Altis is anticipated to be comprised of 704 homes and is slated to grand open in summer of 2018.
Currently under development also in Santa Clarita, California, Skyline by Pardee Homes plans approximately 292 residences optimized for boomers, situated within an all-age community encompassing 492 acres and 1,220 home sites. The community benefits from its strong location, well-situated within close proximity to job opportunities and allows residents the option of being close to families, a key consideration for this market. Skyline’s focus on activity begins with the introduction of multiple recreation centers and miles of trails for hiking and neighborhood connectivity. Groundbreaking at Skyline commenced in March 2017, with the first new home deliveries expected in 2019.
Maracay Homes’ neighborhood in Victory at Verrado, 25 miles from downtown Phoenix, offers an all-new collection of floor plans thoughtfully designed for the baby boomer home buyer. Created in collaboration with KTGY Architecture + Planning, one of the nation’s most celebrated architectural and planning firms, each of the 40 single-level homes is built for highly-efficient energy performance and cost-effectiveness. Flex Design® options, such as a guest suite for visitors, are also available to customize each home. Community amenities at Victory at Verrado include a Life Performance Training Center, movement studios, yoga lawn, lap pool, and three resort-style pools. The community is connected by the Victory Trails, an innovative path and trail network for all fitness levels that include one, two and three-mile loops in addition to uniquely designed exercise stations that were developed in partnership with certified personal trainers. Easy access from Interstate 10 links the community to employment centers, shopping, dining, and entertainment.
n the East Coast, Winchester Homes’ 55+ neighborhood within the all-age master plan of Two Rivers in Odenton, Maryland offers 168 craftsman-style homes in close proximity to Washington, D.C., Baltimore, and Annapolis. The lock-and-leave style townhomes offer low maintenance living while providing plenty of private outdoor living spaces with patios and balconies. Residents can enjoy the main level owner’s suite and, while an upstairs loft with optional elevator and basements are available, everyday living is kept on the main floor. Similarly, the Birchwood neighborhood at Brambleton in Ashburn, Virginia features 63 townhomes with stylish open floor plans, including main-level owners’ suites for easy daily living, and available terraces and elevators. The 55+ community at Brambleton boasts a community garden, park trails, indoor pool, and sporting garden.
“Our ‘Life360’ approach honors the individuality of baby boomers while also delivering meticulously crafted homes and experiences that will allow them to live an adventurous and social lifestyle, all at their doorstep,” said Tom Mitchell, president and COO of TRI Pointe Group. “This group has waited their entire lives to be in the position they are now in, where amenities and lifestyle opportunities in a close in location near family and employment are key to a full and enriching life.”