Business Services Industry
Housing boomers; As biggest generation starts to retire, Pulte steps up construction of Del Webb retirement communities.(Pulte Homes Inc)
Crain's Detroit Business, August, 2005 by Smith, Jennette
Byline: Jennette Smith Pulte Homes Inc. is banking on baby boomers. The Bloomfield Hills-based home-building giant is buying land and making plans for new Del Webb retirement communities across the country in a major extension of the business it acquired in 2001. As part of these plans, Pulte will bring Del Webb to its home turf with projects in Brownstown and Grand Blanc townships.
These are set to open this year and next. "The demographics are truly on our side," said Richard Dugas, president and CEO of Pulte (NYSE: PHM). "It's not only a big demographic today - it's going to be huge." Today, there are more than 44 million Americans between 55 and 75. The group - prospects for Del Webb and other retirement-community developers - is expected to balloon...
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