Parrot Heads retire, too, and they soon will have an ideal retirement community. Musician and businessman Jimmy Buffett’s Margaritaville is partnering with a developer on its first branded 55+ housing community – in Florida, of course.
Latitude Margaritaville is the soon-to-be-realized senior living community inspired by the iconic Buffett song. Real estate development company Minto Communities and Buffet’s Margaritaville Holdings announced the project, appropriately, just in time for National Margarita Day. It will open to residents in fall 2018, joining other senior housing options in Daytona Beach, Florida.
Minto is developing the community and building the 6,900 homes, according to Senior Housing News. Margaritaville is providing input on the theme, design and architecture.
A New Frontier for Jimmy Buffett
Although it may seem like an unlikely partnership at first glance, Margaritaville’s diving into the senior housing market isn’t so far-fetched. Many of Buffett’s longtime fans are Baby Boomers, which puts them at 53 to 71 years old. That means right about now is when they’re looking for a retirement destination. In fact, Baby Boomers are heading into retirement in “droves,” according to Investopedia, at a rate of about 10,000 a day.
Then consider the nearly 250 “Parrot Head” Buffett fan clubs that operate in 47 states. What do you get? A recipe for an amazing business opportunity. It’s no wonder then that Buffett, after tackling restaurants, resorts, casinos, clothing, tequila and – naturally – margarita salt, would next give his target audience a place to live, too.
Latitude Margaritaville’s Amenities
According to Margaritaville’s official announcement, the 55+ community will include walkable neighborhoods that lead to a town center. Facilities will include a fitness center with an aerobics studio, swimming pools, a spa, and beach access. There are no plans yet for a Margaritaville assisted living community, however.
This being a Buffett-related venture, the community also will include a band shell for live entertainment – no word on whether Jimmy himself might drop by – and indoor and outdoor dining with Margaritaville food and drink.
Alas, Parrot Head Paradise Isn’t Free
The 6,900 homes at Latitude Margaritaville will feature Old Florida and Key West architectural styles. Prices will be in the range of $200,000 to $300,000, a Minto official says.
And younger Parrot Heads: If you’re not quite ready to head to Florida for retirement, don’t give up hope. Minto says Daytona Beach is just the first Latitude Margaritaville community. Others are planned “in some of the nation’s most popular destinations.”