Downtown Phase II will support the retail establishments in the downtown center with new office and housing where Windstream, Hudson Public Power, the City salt dome, and the school bus garage are currently located. Moving these more industrial-type functions will help revitalize a prime location in the downtown.
The development responds to a demographic shift where more individuals are living alone, or without children, at both ends of the age spectrum.
In Hudson, our population is aging, with the average age now significantly higher than state and national averages. While Hudson has an oversupply of 2,500+ sq. ft. homes on large lots, we have an under-supply of smaller homes, closer together to meet the needs of baby boomers with empty nests who wish to remain in the community.
Millennials, now in their 20s and 30s, have been the largest home-buying demographic group, outpacing home purchasing of baby boomers. Both boomers and millennials want the same thing — smaller, affordable homes, in walkable neighborhoods, close to amenities such as shopping, dining and recreation.
“The successful suburbs of the future will be suburbs with some sort of mixed-use walkable center. (It’s) because of the two barbell generations, both seem to like the same thing,” said Ed McMahon, a senior research fellow at the Urban Land Institute, a nonprofit advocating for sustainable land use.
“A growing body of survey research suggests millennials intend to gravitate to suburbs just like earlier generations did, but that they prefer a higher-density, more walkable version than the cul-de-sac communities of their parents.” (Chris Kirkham, Wall Street Journal.)
Downtown Phase II will offer housing options for baby boomers who want to remain in Hudson and will enhance our property values by attracting young professionals who want to live in close proximity to where they work.
Click on image for statistics about Hudson housing trends.