If you’ve always wanted to retire in a Disneyland for tequila-drinking beach bums, now’s your chance to get in on the ground floor. Inspired by Jimmy Buffett’s 1977 hit about drowning your sorrows with sun, sand, and margaritas, Latitude Margaritaville is a mixed-use senior development currently under construction in Daytona Beach, Florida.
The $1 billion walkable community will have 6,900 homes, 200,000-square-feet of retail, a pool, fitness center, and beach shuttle. On its face, that might not sound much different from the average Florida retirement community, but Latitude Margaritaville will also be “an immersive brand experience” with an outdoor music venue and “signature Margaritaville food and beverage concepts.”
Over the years, Buffett has parlayed his catchy, escapist tune into a whole ecosystem of branded beach resorts and lifestyle products. With Buffett’s Baby-Boomer audience aging faster than spongecake in the sun, a senior-oriented neighborhood like this is a shrewd business move.
In the next two decades, senior housing is poised to reshape the U.S. housing market. By 2035, the number of Americans over 80 will double from 6 million to 12 million, and a full third of U.S. households will be headed by someone over 65. It’s crucial to design homes and communities suited to an older population. The margaritas are an added bonus.