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The official announcement today that Stone Brewing Co. has selected Richmond for the location of its East Coast production facility is a significant economic development victory for the City and the region. Gov. Terry McAuliffe announced the deal this afternoon at the Governor’s Mansion. Stone’s Richmond plant will be located in the Fulton section of the city’s East End and is expected to be a catalyst for redevelopment and additional investment in the area.

In my previous post, I discussed what real estate developers should be doing to market their communities to the Millennial generation. I would like to now discuss how and what they should be doing to capture Generation X. This generation is by far one of the most complex. Given the turbulent times that they grew up in, it should not be a surprise that they tend to be wearier of authority and more autonomous. The fact is that many in Generation X have felt the full brunt of numerous devastating recessions – especially the Great Recession.

Over the course of our lives, we have numerous opportunities to choose where we live. Those choices change over time as we age, our family situation shifts, and our needs alter but we pride ourselves on our ability to choose a neighborhood or community that best meets our needs at a given time.

The challenge for real estate developers who build multi-family units and single-family homes are these choices. How do you make your community stand out from the competition and marketable to certain segments of the population? Is it location? What about school districts? How about vicinity to family and friends? For millennial buyers and renters, the answer is much more complex than you might think.

According to Alexa Internet, Inc., YouTube is the third most popular website in the world. That should not come as a surprise since most of the individuals living today have been consuming information through television for decades. The next logical source to find video is through the internet. As a matter of fact, a new Neilsen study finds that adults between 50 – 64 years old are now watching at least 19 minutes of digital videos a day.