They found their ideal in Oak Hammock, a new retirement community with ties to John's alma mater, the University of Florida. Aside from standard amenities, it offered campus privileges similar to those of university faculty, an assisted-living center, small nursing home, massage therapy and a computer lab.

Even as boxes sit waiting to be unpacked, 80-year-old John is looking ahead to taking computer classes; his wife wants to learn how to paint.

"So far we are quite impressed," he said.

In recent years, about 60 retirement communities have sprouted near college campuses to house the growing number of older Americans who are living longer than in the past and looking for a place that will continue to stimulate mind and body. In addition to Florida, the University of Michigan as well as Cornell, Dartmouth, Duke and Stanford universities are happy to accommodate them.

The Rifes paid a $1,000 deposit in 1999 to reserve a two-bedroom, ground-floor apartment in the neighborhood of single-family homes and apartments that opened in March just west of Gainesville. It has its own banking center, convenience store, post office and ice cream shop.

"We looked at retirement places pretty much all over the South," Rife said. "We wanted to stay in Florida for tax reasons" and Gainesville is also near their two children, who live in South Florida and Georgia.

Gaining a sense of community

Margaret and George DeMuth enjoy the variety of people who live in their retirement community near the University of Michigan.
University of Michigan alumni Margaret and George DeMuth, both 78, didn't just buy into their community near the campus, they were part of a group that worked to get it off the ground. Since moving into University Commons in Ann Arbor about three years ago, they have found a neighborhood that allows ample opportunity to socialize with other active older people.

"It's a nice mixture of people," George DeMuth said. "We have people active in business or the faculty, or totally retired."

DeMuth, who retired as Michigan professor emeritus of pediatrics and communicable diseases, is taking a course in Chinese history; his wife, who worked in the journalism school, is taking a physical education class. Recitals, musical performances and lectures consume much of their leisure time.

Unlike Oak Hammock, University Commons doesn't have any long-term medical care. "We didn't want this to be the last station before death," DeMuth said.

These housing options appeal to aging baby boomers primarily because of the university affiliations, said Marc Freedman, author of "Prime Time: How the Baby Boomers Will Revolutionize Retirement and Transform America."

"A lot of people have fond memories of their university days," he said. "It's a chance to gain a sense of community."

For all the allure of these communities, however, one expert advises consumer caution.

"All college-linked retirement communities are not alike," said Ronald Manheimer, executive director of the North Carolina Center for Creative Retirement at the University of North Carolina at Asheville. "Some offer health packages, others do not. Some provide unique access to campus amenities; others offer little more than what's available to local citizens."

Range of programs
Not all have been successful.

Eckerd College in St. Petersburg, Florida, found itself in deep financial trouble two years ago when two real estate developments set up to generate income failed.

College Landings was an upscale development designed to lure wealthy Eckerd alumni back to campus, where they could participate in education programs and interact with younger students. College Harbor was a retirement community and nursing home.

The nursing home was unsuccessful and the real estate developers went bankrupt after pledging Eckerd land as collateral. Eckerd lost $21 million and saw its endowment drop from $34 million to $13 million.

While the residents of University Commons own their homes, those at Oak Hammock enter into a "life care contract" similar to a lease agreement and receive a certificate of occupancy, not a deed.

Residents, who must be at least age 55, pay "an entrance fee" that's anywhere from $102,000 to $477,000 for an apartment or house, in addition to an average $2,000 monthly fee which includes some meals, maid service, assisted-living care and nursing service should they ever need it.

When a resident dies, heirs are refunded between 50 percent and 95 percent of the entrance fee depending on how long the resident lived in the community, according to Oak Hammock's Web site.

Some residents are a virtual "Who's Who" of the university and the state.

Marshall Criser, 75, a former University of Florida president and member of the Board of Trustees, will live with his wife, Paula, in a two-bedroom home with a study. As residents, they will have automatic membership in The Institute for Learning in Retirement, a Washington-based program that allows members to tailor courses to suit their personal and community needs.

"It provides a healthy living environment," Criser said, "as well as assistance if one or both of us require it in the future."