High-Rise Condos Like Biscayne Landing to Feed Demand from Baby Boomers, Young Professionals & Families

Mega-residential projects like Biscayne Landing in North Miami, Florida, are prime evidence of the nation's high-rise condo-mania. Real estate and land-use analysts say many factors are driving the trend but the biggest is a major demographic shift.

Baby boomers are inheriting wealth at the same time that they're becoming empty nesters. They're retiring earlier and placing a higher value on their personal time. The lock-and-leave freedom that high-rise condos provide combined with luxury amenties make them a perfect fit for boomers.

The fact is, many people today don't crave the house with a white picket fence. They don't want to spend time mowing lawns, sitting in rush-hour traffic or getting in their cars to pick up the dry-cleaning.

If they live in a downtown high-rise, there's no grass to cut, they often can walk to work and cultural events, and some high-rises have on-site concierge services to take care of life's every little need.

Many high-rise condo buyers are young professionals of both sexes, married and single, who purchase them as homes and as their primary investment vehicles. The condos offer opportunities for appreciation without the typical real estate ownership hassles of maintenance and upkeep.

In recent years many cities have placed an emphasis on "smart growth." These principles, which promote the protection of open space by concentrating development close to jobs, services, entertainment venues and recreational areas and connecting it with mass transit, fit perfectly with high-rise living.

The convenience of downtown living can't be beat. Carey Sandol, who is considering the purchase of a condo in Biscayne Landing, said, "I love the convenience of it all. The schools, stores and businesses are so close. I really won't have to get in my car if I don't want to. And there are so many things to do here. My children will be able to play endlessly here without ever saying to me, 'Mom, can you give me a ride?'"

Biscayne Landing will include a 35-acre park with miles of hiking trails, swimming pools, tennis courts, private clubhouses, playgrounds and much more. It is being promoted as not only a residential community but also a unique residential lifestyle.

As Donald Trump said in a recent interview, "A livable city needs downtown residential development. "It's one of the reasons that Manhattan is so great. I believe high-rise living is here to stay."