Retirement communities, typically nestled near beaches or golf courses, are beginning to emerge somewhere else: near university campuses. Educational opportunities and cultural activities there are among the perks for those who feel most alive in active, intellectually stimulating and intergenerational settings. Alma maters are a special draw for sports fans.

About 50 campus-oriented retirement communities exist around the country, estimates Andrew Carle, an industry expert and founding director of the Senior Housing Administration program at George Mason University, in Fairfax, Virginia. Another 50 are planned.