Rich millennials are ditching golf communities for ‘agrihoods’

A new type of housing community known asAgrihoodsare popping up around the US. Agrihoods are built around working farms and are replacing the once-popular golf communities favored by Baby Boomers.

Hundreds of so-calledAgrihoods short for agricultural neighborhoods  around the US are now aimed at farm-to-table-loving millennials.

According to Paul Habibi, a professor of real estate at UCLA’s Anderson School of Management, agrihoods represent aconfluence of economic profits, environmental good, and social benefitand that’s an especially attractive offer to millennials, he told the Orange County Register.

Agrihoods could become the 21st century version of those tony golf communities Baby Boomers flocked to in the 1990s.

In some places, communities are doing away with the golf course all together to make room for sustainable living.

Rancho Mission Viejo, the Southern California-based development company that initially trademarked the term agrihood back in 2014, is using its sustainable living-focus to draw young families and even active retirees to its Esencia and Sendero communities.

If agrihoods continue to attract young homebuyers, millennials may be held responsible for killing yet another formerly prized industry.

This is an autogenerated summary from a published source: Rich millennials are ditching the golf communities of their parents for a new kind of neighborhood