Lifelong Learning and Entrepreneurship
What will it take to create more walkable communities and fulfill the 10 minute lifestyle? In addition to great public transportation and bike infrastructure, we will need more shopping, more “third places” (beyond the home and workplace), and more jobs. Luckily, with the potential inflow of retiring or semi-retiring Baby Boomers, we have the human capital to make business and job creation happen. One hundred years ago, few people lived beyond the age of 65. Now, the average Baby Boomer can expect to live to 83. Rather than play golf or sit by a pool, many will want to stay engaged and help rebuild communities. In the words of university town developer and visionary Tim Elliott, it is time for a fusion of “campus, commerce, and community”.
Many university towns already have lifelong learning centers. Add entrepreneurship centers to these and we have the right environment for the transfer of business skills. Facilitate the retired banker, accountant, and marketer to team up and help the promising baker open a pastry shop, the talented chef a restaurant, and the budding impresario an entertainment venue. The virtuous cycle of more people spending more money locally leads to more jobs and more money being spent.
Fox is hoping that a significant number of Baby Boomers will live in Saint Peter’s Tower when it is completed in 2018 and participate in such a community. Perhaps many of them will help to grow the University’s alliance with Rising Tide Capital.