John Blount, of Bount General Contractors, has broken ground on two Capital Region townhome developments aimed at aging baby boomers looking to downsize after their kids leave the nest.
Though not marketing specifically to seniors and retirees, Blount estimates 80% to 90% of his buyers come from the older demographic.
“I put these in places where the younger generation is moving with kids and target those areas to create housing for retirees to be closer to their kids,” Blount says.
Construction has begun on Old Oaks of Zachary, a 36-unit townhome development, just north of the intersection of Mount Pleasant Road and Old Scenic Highway. Prices for the two-bedroom, 1,150-square-foot townhomes start in the $150,000 range. Blount expects the project to wrap up in the spring.
He’s also developing The Greens, a 35-unit townhome development in Livingston Parish at the former site of the Denham Springs Country Club. Five buildings, with two and three-bedroom units, are under construction, with residents expected to begin taking ownership in September. The full development is expected to be finished by summer 2020, with unit prices starting in the mid-$140,000 range.