Generation Y, also referred to as Millenials or Echo Boomers, is the generation born roughly in the 1980's to early 1990's. What makes them such an important and interesting group is that they are the largest generational class since the Baby Boomers. In most cases, they are the sons and daughters of the Baby Boomers, explaining how they earned the name, Echo Boomers.
According to broad demographic studies, what are the characteristics that define this group? Most importantly, they represent the new, dynamic worker class. They are our youthful entrepreneurs and, to a great extent, the group that will determine the desirability and future success of our communities based on their social preferences. While the Baby Boomers drove the development of the suburbs, the Echo Boomers are echoing back with a more urban vibe. They show a preference for higher density living patterns where walking and biking play a bigger role in every day life. Walkability and convenient access to amenities are high on their list of characteristics that make for desirable living places.
Why is this important to recognize? Because the communities, in particular suburbs, that play to the desires of Generation Y are the communities that will flourish and remain vibrant. They will be the places that attract the energy, ideas, young families, and new generation of wealth creation that will follow from Generation Y. Those communities that fail to respond will grow older, more sleepy and less dynamic. In fact, demographic trends already bear out the fact that, on a national level, our suburbs have begun to grow older while our urban areas are attracting a younger generation.
As a relatively young and still-growing suburban community, Wellington has the chance to better define itself and to make improvements that will help to insure its growth as a community in what nearly all would consider positive ways.
Better amenities, better walkability, more green space, reduced automobile congestion and protected home values are all things that will serve to make Wellington a better community in the future. And, the great thing is that the future can start now by selecting the right development catalyst at strategically important K Park. By considering K Park in the larger context of our entire community, Wellington has the opportunity to kick start the community on the path toward a better future - one that will be attractive to the next generation of Wellingtonians. And, Y not?
According to broad demographic studies, what are the characteristics that define this group? Most importantly, they represent the new, dynamic worker class. They are our youthful entrepreneurs and, to a great extent, the group that will determine the desirability and future success of our communities based on their social preferences. While the Baby Boomers drove the development of the suburbs, the Echo Boomers are echoing back with a more urban vibe. They show a preference for higher density living patterns where walking and biking play a bigger role in every day life. Walkability and convenient access to amenities are high on their list of characteristics that make for desirable living places.
Why is this important to recognize? Because the communities, in particular suburbs, that play to the desires of Generation Y are the communities that will flourish and remain vibrant. They will be the places that attract the energy, ideas, young families, and new generation of wealth creation that will follow from Generation Y. Those communities that fail to respond will grow older, more sleepy and less dynamic. In fact, demographic trends already bear out the fact that, on a national level, our suburbs have begun to grow older while our urban areas are attracting a younger generation.
As a relatively young and still-growing suburban community, Wellington has the chance to better define itself and to make improvements that will help to insure its growth as a community in what nearly all would consider positive ways.
Better amenities, better walkability, more green space, reduced automobile congestion and protected home values are all things that will serve to make Wellington a better community in the future. And, the great thing is that the future can start now by selecting the right development catalyst at strategically important K Park. By considering K Park in the larger context of our entire community, Wellington has the opportunity to kick start the community on the path toward a better future - one that will be attractive to the next generation of Wellingtonians. And, Y not?
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