Retirement

Retired Memphians—rather than retired New Yorkers, Michiganers, or other transplants—make up the majority of senior citizens in the city. As a result it’s not surprising that the retirement amenities available in Memphis tend to focus on the people who live here already and who are simply reaching the age at which they have different needs in terms of housing, recreation, assistance, and care. This situation is a contrast to that in Florida, the Ozarks, and other places in the Sunbelt, which attract retirees from other parts of the country.

Memphis is a place where people have strong ties to their neighborhoods, so one welcome trend is toward retirement communities geared toward local neighborhoods. Thus retirees who decide they need a little more assistance can still be close to familiar amenities and the neighbors they care about by choosing one of these communities. Many offer meals, transportation, activities, assisted-living services, and other amenities. That approach was exemplified by an $80 million, 35-acre suburban retirement community that opened in 2005. The Village at Germantown (901-737-4242) includes about 200 independent-living units as well as a skilled-nursing facility and some assisted-living units. Real estate developers, cognizant that the oldest of the baby boomers is approaching age 60, also see a growing market for condominiums and other smaller housing units, as retirees look to downsize but stay in their neighborhoods.

This concept differs from that in senior housing seen in the late 1980s, when a construction boom of retirement communities took place in Memphis and in many major cities in anticipation of a surge in demand that never materialized. These were centers with maintenance-free living, social activities, and personal assistance available on an à la carte basis. Many of them fell flat when it turned out retirees didn’t flock to these types of residences immediately upon retirement.

Since then the retirement industry has retrenched. The great consolidator of retirement living in the region has turned out to be Wesley Senior Ministries, an affiliate of the United Methodist Church, which stepped in to take over distressed retirement centers. Presently Wesley serves 2,000-plus residents in more than 25 facilities, most of them senior-housing communities across three states. In addition, several large operators of assisted-living facilities have entered the Memphis market, including Atria.

Of course, retirees need more than just a place to live. Resources are plentiful in this area, and it’s easy to find meals, recreation centers, volunteer opportunities, and a variety of activities. Local government agencies are important players, as are churches, as they often have programs, activities, and outreach for that segment of the population.

City life isn’t for everybody, though, and those who prefer small-town life will find dozens of options within a short drive of Memphis, the most celebrated of which is Oxford, Mississippi. Money magazine in 2001 named this college town as the best place to retire in the South.