When courses resume this fall, over-caffeinated youth enjoying their first tastes of independence may notice some new faces on campus. College towns across the country are beginning to see a wave of older Americans living in university-based retirement communities, or UBRCs.
Because they offer a wealth of activities, walkability and access to top-rated healthcare facilities, college towns are an attractive option for retirees. That’s especially true for lifelong learners who can audit classes, use university libraries and attend lecture series. They also offer art shows, theater productions and sporting events. According to AARP, there are now “more than 100 such facilities operating on or near university and college campuses in 30 states.”
But the media outlet Senior Living has found that costs vary tremendously. The Forest at Duke near the namesake university charges a one-time entry fee starting at $98,000, while Longhorn Village near the University of Texas at Austin expects folks to fork over six figures. There are also ongoing fees to consider. Holy Cross Village at Notre Dame's fees start at $3,360 a month, while Kendal at Hanover near Dartmouth College asks for up to $6,400 monthly.
High costs aside, there’s no denying the surging popularity of UBRCs. Mirabella at Arizona State University sold out in 2020 before construction was finished, while many others have lengthy waitlists. The strong sense of community that UBRCs provide to those enjoying their second acts is a major selling point. (But the access to late-night pizza probably doesn’t hurt, either.)
— Jordan Chussler, investing and banking editor 
