Canadians are looking at new housing and life style options suitable for the 1990s and into the new millennium. Life Lease Housing provides the opportunity to develop non-profit housing designed specifically for the intended residents.

HOUSING TRENDS FOR THE NEW MILLENNIUM

Demographics show that our population is aging at an increasing rate. CMHC Projections predict an increase of 1.7 million households (16.5%) between 1991 and 2001 with new household growth highest in the 45 - 49, 50 - 54, and 75 plus age groups.

Mature adults and seniors are looking for alternative types of housing, lifestyle, and services. Senior residences, adult lifestyle communities, residences with living support services, and secure housing communities have become a housing growth area all over North America.

CMHC recently concluded a research study entitled Consumer Housing Preferences in the 1990s: An in-depth Study of what Baby Boomers, Empty Nesters, and Generation X Want in Housing - Now and in the Future (1995)

Some of the findings include:

• Potential home buyers who prefer new homes want more modern homes, low maintenance, the ability to order special features, and higher energy efficiency
• Despite the recent recession and slow recovery in many local housing markets, Canadians continue to hold the view that owning is a good investment
• Eight in ten Canadians agree that now is a good time to buy homes
• Demand in the second half of the decade is projected to improve because more new households will be formed, consumers anticipate better economic conditions, and many baby boomers and pre-boomers in particular, intend to move down.
• The vast majority of moves by pre-boomers and early boomers will be driven by preferences, not life-cycle events. The prime motivation of this group is to simplify their lives. Their children have left home and they are approaching or in retirement, so they would like their houses to reflect their new lifestyles by being easier to manage and maintain. Consumers who move down expect their homes to cost less than the selling price of their current homes.

Canadians are looking at new housing and life style options suitable for the 1990s and into the new millennium. Life Lease Housing provides the opportunity to develop non-profit housing designed specifically for the intended residents. Unlike condominiums, Life Lease Housing allows the development of life style housing for specific communities of people with common interests.

In a Life Lease housing development, mature adults with an active life style can choose from various unit types and recreational facilities. Seniors with support needs can choose modified units and living support services such as housekeeping, meals and transportation. Special interest groups can choose to incorporate cultural features to enhance their community environment.

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