That's a question more than a few developers of age-restricted communities, including Reb Refoel Zucker, the developer of Pine River Village in Lakewood, are asking themselves these days. Seniors are no longer flocking to Pine River, where only one-sixth of the 175 units have been sold. A poor housing market and a statewide glut of senior citizen communities have prompted Zucker and other developers to attempt to drop the age restrictions and open the community up to people of all ages. Zucker formally petitioned the Township Committee to do so Thursday. The matter should be decided only after careful deliberation involving all the interested parties: current Pine River residents, Lakewood's taxpayers and township planners and zoners. Read full APP article here.
Monday, June 22, 2009
Where Have All The Seniors Gone?
That's a question more than a few developers of age-restricted communities, including Reb Refoel Zucker, the developer of Pine River Village in Lakewood, are asking themselves these days. Seniors are no longer flocking to Pine River, where only one-sixth of the 175 units have been sold. A poor housing market and a statewide glut of senior citizen communities have prompted Zucker and other developers to attempt to drop the age restrictions and open the community up to people of all ages. Zucker formally petitioned the Township Committee to do so Thursday. The matter should be decided only after careful deliberation involving all the interested parties: current Pine River residents, Lakewood's taxpayers and township planners and zoners. Read full APP article here.
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Why not try marketing this languishing development to the modern Orthodox (kippah srugah) community, where no such development exists. With the right approach it should be sold out in a matter of weeks. The developers, residents, town council and taxpayers will all be happy. Just do it !
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