Q: I’m interested in areas where seniors can live alongside college students, and even younger kids, but I don’t know much about them. They’re called intergenerational living communities or university retirement communities. Are they located across the country? How affordable are they? What else should I know about them?
A: Communities where people of different generations live together intentionally have been gaining in popularity as a way for older adults to thrive in retirement and younger people to learn from those with more experience.
“It’s living in an engaged, less socially isolated way,” said Matthew Kaplan, a professor of intergenerational programs and aging at Pennsylvania State University.
University retirement communities, found on college campuses around the country, are a popular version of this kind of setting. The costs can be comparable to those of traditional senior living. They allow older adults to have a vibrant lifestyle while engaging in on-campus classes, performing arts and athletics.
“They do not want to live on Elderly Island,” said Andrew Carle, a senior living consultant and founder of UniversityRetirementCommunities.com, which offers information about such sites.
Other communities also allow for intergenerational living, with older adults living near families with children. Around the country, there are hundreds of “cohousing” developments, many of them designed to foster interaction among people of different age groups. In these, private housing units share indoor and outdoor spaces, and prices are comparable with other local housing. Generally speaking, intergenerational living can be market-rate, or subsidized.
Older adults interested in such living arrangements should consider how much interaction with others they’d like. Does the community allow people of different age groups to live near each other or together? Does the community offer programming aimed at promoting interaction? Is there a requirement to participate?
Be sure to be clear on financial terms: In intergenerational communities, arrangements can vary wildly, said Juli Ford, a real estate broker who specializes in helping older adults make housing decisions.
In some communities, a large fee is paid upfront, and some of it is returned when you leave. In others, people buy co-op shares they can sell later. There can also be monthly fees. If you’re buying in a new development, be sure to ask what happens to your investment if the project fails, or if you move away. Renting, of course, is a more flexible arrangement.
“It’s a big switch for most seniors, when we’re often living in our own homes for decades,” Ms. Ford said.
But living in these communities comes with benefits, too. “Your life gets more interesting,” Dr. Kaplan said.
