no one likes a long commute to work. as a result, the massive generation of millennials began moving to downtown city apartments. “live, work, play”, became a slogan that is synonymous with this generation. they were getting rid of their cars. living close to work. living close to the nightlife. with approximately 80mm of them, this was a group large enough to create significant change within city landscapes. this is the largest generation since the baby boomers, who have currently have approximately 74mm people.
with the massive number of millennials and their trend towards urban city centers, they fueled a nationwide re-generation of demand for downtown office space and apartments. the millennial generation was born between 1982 and 2000. as of 2019, they now range in age from 19 to 37 years of age. however, as this group ages, something familiar is happening. as with every generation before them, they are having families and looking for a high quality of life.
they are now beginning their migration to the suburbs to raise their families and are looking towards homeownership versus the attachment-free life with an apartment. “live, work, play” is now transforming into “parks, school, and soccer”.
this generation has many years left for work and having an office close to home has high value. no one likes a long commute.