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Jimmy Buffett is wasting away again in Margaritaville. On Feb. 16, the 70-year-old singer of calypso tunes about flip-flops, boozy cocktails, and cheeseburgers in paradise announced a partnership with Orlando, Fla.–based Minto Communities to bring Latitude Margaritaville—a tropics-themed, “no worries” active-adult community—to a development parcel fronting Daytona Beach.

Complete with a fitness center, aerobics studio, spa, and indoor and outdoor dining with “signature” Margaritaville food and beverage concepts, Latitude Margaritaville is only the first of several destination retirement communities planned by Buffett and Minto as they eye a surging baby boomer demographic now settling into prime empty nest and retirement years.

While millennials continue to enjoy selfie-level attention from multifamily (and, indeed, surpassed boomers in 2016 as the largest living generation, according to Pew Research), baby boomers are still in the driver’s seat when it comes to purchasing power, household creation, and demand generation for apartments across the country, with population experts and developers in the know pegging the demographic as a primary market force over the next decade.

 

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