PulteGroup, one of the nation’s largest homebuilders, plans to leverage its Del Webb brand that typically focuses on homes for people 55 and older to offer resort-style living to buyers of all ages.
The first Del Webb Explore developments will be in Southern California and in Florida's Tampa Bay region, PulteGroup said. They will address growing demand from Gen X buyers for features and amenities typically seen in communities restricted to people 55 and over, the company said.
Gen X includes 63 million people ages 45 to 60. The homebuilder said market research shows 40% of potential Del Webb buyers wanted the resort developments without the age restrictions. Their reasons included having older children living with them, needing to care for grandchildren, being younger than the traditional "active adult" buyer and wanting to live with people of different ages.
“We’re seeing a convergence of Gen X reaching their peak earning years, with sophisticated tastes shaped by decades of travel and lifestyle experiences," PulteGroup President and CEO Ryan Marshall said in a statement. "The extension of the ageless Del Webb brand means we can now offer a product to those who crave a vibrant, active lifestyle, regardless of age.”
Previous generations typically worked until age 65 or 70 without much thought about comfort and amenities, according to Sean Salter, a real estate researcher and finance professor at Middle Tennessee State University. The ageless resort-style living concept may become more common in the homebuilding industry, he noted.
Gen X buyers want lifestyle choices
"Gen X buyers are making a lifestyle choice," Salter said in an interview. "They want to play while they're still working. They're the first generation to think about things in a different way."
PulteGroup already builds resort-style developments for buyers of all ages through its DiVosta brand.
Atlanta-based PulteGroup is the nation's third-largest U.S. homebuilder, according to the latest rankings from Builder magazine. Besides Del Webb and DiVosta, PulteGroup builds under the Pulte Homes, Centex, American West and John Wieland Homes and Neighborhoods brands.
Del Webb will still build 55-and-over developments, according to the company. But the Explore projects won't have the age restriction and will offer such amenities as clubhouses, high-end fitness centers, lagoon-shaped pools, pickleball courts, gathering spaces and events such as wine tastings and sports tournaments, PulteGroup said.
Based on feedback from buyers, the Explore home designs will include floor plans to accommodate entertaining, the company said. The homes also will have widened hallways and "carefully planned" storage, according to PulteGroup.
Sales at PulteGroup's 332-home Del Webb Explore Palm Desert launched last month. The homes will have up to 3,051 square feet and are priced from about $508,000 to $830,000, according to PulteGroup.
Del Webb Explore North River Ranch will serve an area between Tampa and Sarasota. It will have 901 homes at completion, though prices and other details have not yet been released.