Notes from MPC University
November 15, 2019 7:36 pm
Main Takeaways from the Conference:
- There is a missed opportunity in new home sales in MPCs. 52% of people surveyed indicated they’d like to live in an MPC, but they’re not capturing that market.
- People are looking for a smaller product (>2000sq ft) under $300k in a walkable community
- Demand/Opportunity: Smaller, attainable, walkable, different
- Fitness centers & trails are the most important amenity for all age groups; gated communities are very important to boomers
- Price to income ratio is a challenge for potential homeowners
- Other things that are important to younger age groups: dog parks, environmentally friendly/sustainable home design, 3BR
- People are willing to live in a smaller, attached home if it’s higher quality, in a good location at an attainable price – this ‘missing middle housing’ is an opportunity for MPCs to introduce a new product
- The southeast (FL, NC, SC) continues to be the most popular region for boomers to retire to, but 250 ppl per day are moving from CA to AZ
- MPCs need to differentiate themselves with amenities and serve specific niches (i.e. Del Webb serves a value buyer boomer; Toll Brothers serves a higher-end submarket of boomers)
- Autonomous car service in a large community is an opportunity for a unique amenity for residents
