Looking For A Retirement Home In The City

"According to a report issued by William H. Frey, a demographer with the Brookings Institution, and the Mortgage Bankers Association, the baby boomers who do not age in place or, like previous generations, move to sunnier climes, will be lured into big cities."

"Ken Dychtwald, a gerontologist and founder of Age Wave, a consulting firm that focuses on baby boomers' retirement, described them as generally wanting more out of the experience than the typical resort lifestyle associated with golf courses and recreation rooms. As a result, he said, boomers will probably move in increasing numbers to cities and college towns."

"Joe and Debbie Karp are an active couple in their 50s who see themselves someday retiring to New York City. The Karps are born-and-bred New Yorkers who moved to Florida in the 1970s and now live in Palm Beach. With their two sons nearly out of college, they decided last fall to buy a one-bedroom apartment near Lincoln Center.

They plan to start by spending about 12 weeks a year in the city, but their eventual goal is to spend only their winters in Florida. 'We see what happens to people in the suburbs,' said Debbie Karp, who is 55. 'When you lose your car, you become a prisoner. If and when we retire in an official sense, I would want to do it in New York.'"