There are many demographic and economic trends that are influencing our communities and downtowns.

Gregg Logan, managing director at RCLCO, shared some of his insights with us at the NC Main Street Conference that may be of benefit to business leaders, and especially downtowns.

According to Logan, downtowns are attracting all generations from the Eisenhower generation to Generation Y.

The two current largest generation subgroups are Gen Y and Baby Boomers, so they will be having a stronger influence.

Let’s quickly define these cohorts: “Eisenhowers” were born before 1946 and were 41 million in 2010; “Baby Boomers” were born 1946-1964 and 80 million in 2010; “Gen X” were born 1965-1980 and 62 million in 2010; “Gen Y, or, Millenials” were born 1981-1999, and were 85 million in 2010; “Gen Z” were born 2000 and after, and were 42 million in 2010.

Baby Boomer retirees are a growing market for downtowns: about 2.5 percent live downtown; more (4 percent) would like to live downtown; about 15 percent overall would like to live in the city. They are a diverse group of “Believers”: motivated by ideals; life organized around family, religion and community. They choose familiar products and established brands — loyal. And they are “thinkers” — mature, reflective people who value order, knowledge, responsibility. They seek opportunities to broaden their knowledge, are conservative and practical.

Boomers want “safe urbanism”; want entertainment, retail, medical services nearby; want Lifestyles of Health and Sustainability; attainable prices. They are seeking a convenient, low-maintenance lifestyle.

Gen X is active in the market downtown. Gen X couples and families are “movers”, but more moved to the suburbs this decade. They want attainable pricing, safe neighborhoods, parks and “walkability!” They buy in suburban communities, but also in-town areas, if they’re close to jobs, shops and services. Gen X is diverse like Boomers. About 21 percent want to live in a city; 5.8 percent want to live in downtown, but only 4.4 percent do. When comparing Gen X and Y where they choose to live, 10 percent more Gen Y than Gen X prefer the city.

Generation Y has the most downtown interest. They are a “texting” and the most digitally connected generation. Ethnically diverse group with 47 percent non-white. They value places with diversity, walkability, proximity to jobs and to fun! They want walkable places, town centers, mixed use; a “central place” to gather with friends.

Where does Gen Y work? — 50 percent in the city and 28 percent downtown. They’re more open to urban areas than all other generations. Community spaces are important to them, as well as walkable neighborhoods and affordability. They are seeking places to connect. Sustainability is more meaningful to them than other gen’s. About 10.5 percent currently live downtown and another 6.6 percent would like to live downtown, or a total of 17.1 percent. Downtowns are appealing to Gen Y because it has a virtual, wired world co-existing with the physical environment. They are not just tech savvy, but tech dependent. They want cool places to hang out and text each other plus fun restaurants and bars, music and art.

Main Streets that appeal to the generations provide:

Baby Boomers: Safety, entertainment, retail, medical services nearby, healthy, convenient, low-maintenance lifestyle; opportunities to make new friends and for recreation.

Generation X: Safe neighborhoods, parks, walkability, convenient to work, shopping; good schools for their school age children.

Generation Y: Have a virtual, wired world co-existing with the physical environment, WiFi everwhere; cool places to hang out where they can text each other … fun restaurants and bars.

Main Streets that appeal across generations provide:

An environment that facilitates “connections” — social, religious, institutional, business; gathering spaces where “community happens” with “community infrastructure”; aesthetically inspiring — architecture, parks, plazas, streetscapes. Shopping you can’t find at the mall — “unique”. Plus great neighborhoods and convenience.