ARAACtional exuberance : lessons and prospects for age-restricted active adult housing development in Massachusetts
Author(s)Dawson, Sloan William
Age-restricted active adult retirement communitytional exuberance
Lessons and prospects for age-restricted active adult housing development in Massachusetts
Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.
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In the last fifteen years, Massachusetts and neighboring states have experienced explosive growth in a hitherto alien form of residential development to the region: the age-restricted active adult retirement community (ARAAC). The growth proved too much for the market to handle, and now developers and municipalities alike are coping with the fallout from oversupply, partially completed projects, and recession-dampened demand. This thesis describes and analyzes the factors that contributed to the current crisis of ARAAC oversupply in Massachusetts. Based on interviews with town officials, developers, and industry observers and analysts, I find that much of the responsibility for this falls upon municipalities, who failed to adequately plan around ARAACs and were often only too eager to approve projects in the belief that they would bring a fiscal windfall. After a thorough exegesis of the legal, policy, and economic factors at play in this finding, I propose a new framework that municipalities can use to better manage the supply and form of ARAACs and conclude with key findings and recommendations directed at municipalities.
Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2010."June 2010." Cataloged from PDF version of thesis.Includes bibliographical references (p. 77-79).
DepartmentMassachusetts Institute of Technology. Dept. of Urban Studies and Planning.
Massachusetts Institute of Technology
Urban Studies and Planning.