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SAN DIEGO-With Baby Boomers and Generation Y-ers the “dominant drivers of real estate demand over the coming decade,” according to Urban Land Institute, their location preferences for working, living and playing are extremely influential in commercial real estate decision-making. Alan Mark, CEO of the Mark Co., spoke on the panel “Boomers and Gen Y: The Barbells of the Market” yesterday during ULI’s Spring Meeting here, and he tells GlobeSt.com that the demographic groups needs and desires for multifamily housing vary widely.

“Most multifamily developers have been out of the marketplace for a couple of years, and they need to be aware that these are two distinct groups they need to design for,” says Mark. “Gen Y want smaller units, while Baby Boomers want larger units with better views. They like similar amenities for different reasons.”

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