Office of Planning, Environment, & Realty (HEP)
The Association of National Realtors look at this new wave of housing demand that's coming into our ... coming into the horizon right now, where we have the millennials graduating in 2012. They're looking for a different type of housing than what we looked for 10, 20 years ago. This generation is looking for some housing type that's downtown, closer to the urban core, maybe a little bit more dense in terms of its construction type. And also, the baby boomers are retiring. The first wave of those start to hit this year. I think the 65 year olds will start to hit retirement age, and they're looking for a different type of housing as well is what these national associations tell us.
So, we think that we can try to densify our current development patterns along these rail corridors and along these major transportation facilities and try to preserve the quality of life and the impact associated with our traditional growth patterns that we've had in the past. We'll still have quarter-acre lots, one-acre lots, five-acre lots, ranchettes, but a lot of this new housing demand that we're seeing is going to be accommodated within those transportation corridors.