Down on Downsizing

Empty-nesters are among the main driving factors in downtown Milwaukee's recent surge in condominium building and sales. Jerry Weisman, professor of architecture at the School of Architecture and Urban Planning at the University of Wisconsin-Milwaukee, reasons, "My sense is that it's more the cultural resources, the buzz of being downtown that attracts people rather than looking ahead to the challenges of aging and reduced competence. They're not quite living for today, but they are living for the decade." City officials report more than 1,600 new condos in the downtown and Third Ward areas in the last year or so. Brokers in those areas note that the number of condos with three or more bedrooms and at least 2,000 square feet has increased from practically none five years ago to become a major growth category today. Those buying such big condos are not particularly interested in downsizing. They are just using the money they got from the sale of their bigger homes during the recent housing boom to finance the condo of their dreams. In turn, developers are touting such amenities as upgraded appliances, granite counter tops and other fancy design features.

Reprinted from The Milwaukee Journal Sentinel (02/10/07) Cleaver, Joanne