Within a few years, there will be more people over age 50 than under 15 in all of the developed countries. Many mid-size cities in the United States have noticed that they have an aging population which requires more and more services. At the same time this trend is occurring, the younger residents of these communities, who are needed to provide the tax base to support those needs, are moving away.
A few communities are taking a unique approach to this issue, treating it as an opportunity rather than as a problem. Reviewing the approaches being taken by two U.S. mid-sized cities will illustrate the point.
Rochester, New York has spent millions trying to attract young people to "live in the city." Monroe County is home to nine colleges and universities, including the University of Rochester with its Eastman School of Music and School of Medicine and Dentistry, and Rochester Institute of Technology, a well-known science and engineering university, as well as Nazareth College and St John Fisher two very successful liberal arts colleges. These colleges graduate thousands of young professionals every year. Rochester has given tax incentives to developers to restore vacant downtown factories and office buildings into upscale lofts and professional offices.
The city maintains a constant flow of social and cultural events including an internationally-recognized jazz festival. They've encouraged the opening of trendy cafes, shops and upscale and boutique restaurants. The city is even tearing down the first enclosed mall in the United States to make room for more modern office space attempting, with little success, to attract small and mid-size companies to move into the center city bringing young professionals with them.
It hasn't worked. Young people and young families are leaving New York's upstate cities like Rochester, Syracuse and Buffalo in droves, attracted to bigger cities in warmer climates where there are more high-tech jobs, lower taxes, and a much more vibrant social life than Rochester can hope to provide.
By contrast, Sarasota Florida, where the residents of 1 of every 2 homes is at least 60 years old, an entirely different approach is being taken. Sarasota has opted to focus its civic strategy by placing its aging population at the center of its strategy, rather than treating them as a problem. Sarasota focuses its initiatives and investments on providing the products and services needed and wanted by senior citizens.
A rapidly expanding field in Sarasota is health care, the kind older people need and want. Sarasota Memorial Hospital is the second largest hospital in Florida. Some 1,300 doctors are employed in the Sarasota - Bradenton area. The Tamiami Trail (US Rte 41) and other major Sarasota roadways are lined with pharmacies, clinics and other health-care related practices of all kinds, along with sites where seniors can learn about everything from computers to organic gardening -- all things seniors willingly spend their money on.
These senior-oriented businesses attract young professionals coming into town to meet the needs and wishes of the affluent seniors attracted by the sunny, warm climate. And those young people are what every city is seeking to balance out its population. Its a different path to the same goal ... surviving, and in fact, flourishing, inspite ofthe aging of the population.
Sarasota is constantly supporting and expanding civic activities, functions and organizations that give seniors something to become involved in. In addition to being the home of over 80 golf courses, some among the best in the country, the Sarasota area is awash in not-for-profit organizations where seniors and retirees can stay active and involved in their community. The 66-acre Ringling Museum complex, which includes an art museum, a circus museum, and the restored Ringling's family home, the Cà d'Zan Mansion, keeps over 700 older volunteers occupied and happy. And there are many more organizations like the Ringling. Sarasota even has a website to recruit volunteers for its many organizations and activities.
There is so much going on in Sarasota to keep older people engaged, active and healthy that one local organization touts the region as a "Silicon Valley for the Aging."
What does this mean to you if you are one of the many people looking for a warmer, friendly and inviting place to spend your retirement years? It means the Sarasota Florida area should be on your list of places to see before making a choice. Before you come to town, call ahead and plan to visit a professional Sarasota real estate agent like me. I would be happy to show you around Sarasota, Bradenton, Lakewood Ranch and our Island Keys including Siesta Key, Longboat Key and Lido Key.
Come experience our "Sunny Sarasota Lifestyle." Get started by visiting my Sarasota real estate website. Or, for more immediate assistance, call me today on my direct line at 941-266-1799. I look forward to be of assistance to you.
