By Matt Valley DALLAS — The success or failure of an active adult community hinges on whether the operator can deliver on its valuation proposition, and tenants are willing to pay a premium if their lifestyle expectations are met. That’s one of the key takeaways from an active adult panel discussion that took place March 6 during the 2024 NIC Spring Conference at the Omni Dallas Hotel. Prospective tenants in this real estate niche are experienced, sophisticated consumers who know when they are being sold a bill of goods. They know if leasing people aren’t being sincere, said Robert May, managing director of Avenida Partners, a national real estate development firm with offices in Newport Beach, California, and Nashville, Tennessee. “They come to our communities for the first time knowing a whole lot more about us than we do about them because of the internet, because of social media, because of that senior network that’s out there,” explained May. “The brand is everything. It’s what they see, it’s what they hear, and they’ve got to feel it. They’ve got to feel that you’re really there to deliver that value proposition, that lifestyle that they are looking for.” For traditional multifamily …
