By Deirdre Johnson
Vice President, Asset Management, Federal Realty Investment Trust
Some think an aging population is a challenge. At Federal Realty, we have a different view. We think it's a benefit. People are aging differently now. The old definition of retirement is retired. People are working longer (and not just for the money). They are more engaged and active physically, mentally and emotionally. And they want to stay connected to their communities. Recent articles in the New York Times and research conducted by AARP demonstrate that rewriting retirement is a nationwide trend. This contributes to a vibrant community by working, volunteering, dining, shopping and more. Millennials aren't the only demographic seeking to live near Metros. An older population also benefits from, and in fact, seeks out proximity to mass transportation. Walkable, mixed-use housing is an extremely attractive choice for an older population. Federal Realty is developing an apartment community (The Stories) that uniquely combines services, amenities, design and location. We view the age diversity of people in Montgomery County as a positive attribute due to the depth of their life experiences and contributions to the community. They are a vital part of the fabric of our neighborhoods.
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