City Center Welcomes Downtown: Young Professionals, Empty Nesters and Boomers

The Downtown Tacoma Housing Analysis commissioned by the City of Tacoma from New Home Trends identified three predominant types of buyers who will continue to populate the downtown's growing collection of dwelling sites: Young professionals, baby boomers and empty nesters. These include people who are single or coupled professionals aged 25 to 55 years old, and folks from 50 to 75 years old with no children at home.

First, a few facts. There have always been people who sold larger homes and moved to smaller quarters. Young professionals and baby boomers, who like to travel and don't want to spend their weekends mowing lawns, are relocating to urban cores. The percentage has been steady over the years at about 10 percent, says the National Association of Home Builders.

But why downtown? After all, there are townhouses, condos and trendy apartments in the suburbs. This too appears to be a generational thing. Young professionals, baby boomers, and empty nesters tend to be more worldly than their parents, observers say, and they seek greater diversity and excitement. If they want to go to a restaurant in the suburbs, it will take a car and 20-35 minutes each way. For Downtowners it might be a five to ten minute walk.