It’s not a household name, but it certainly is unique. Classic Residence by Hyatt, a national developer, owner and manager of seniors housing communities, has changed its name to Vi (pronounced Vee), derived from the Latin word for life, or “vida”.

Classic Residence by Hyatt’s continuing care retirement communities will be branded as Vi, while rental communities will change their names to Classic Residence, a Vi Community. The name change will take place throughout this summer. The leadership, management and day-to-day operations of the privately held company and its communities remain unchanged. (Founded by Penny Pritzker in 1987, the company is independent from Hyatt Hotels and Resorts.)

“Our new identity reflects what our communities are all about — health, happiness and vitality,” stated Vi president Randal Richardson in a news release. “Given both the life expectancy and high lifestyle expectations of today's older adults, we have identified four vital elements that signify everything our new brand stands for and delivers. These vital elements — home, wellness, connection and vitality — are the foundation of Vi.” The company owns or operates 19 senior living communities nationally.

The expectations of today’s older adults were underscored in a new study of Americans ages 65 and over commissioned by Vi. According to the study, more than four out of five seniors (82%) believe that they have “so much to look forward to” in the next chapter of life, and 83% say they “feel younger than they are.”

With more than 70 million baby boomers starting to turn 65 this year, it is estimated that the typical boomer will have more than 30 years of retirement. The study found that 81% of Americans 65 years of age and older have a different vision of their retirement from that of their parents. Almost nine out of 10 respondents (86%) say they want their retirement to be more exciting and more active than their parents’ retirement.

Nearly all respondents (98%) say retirement “can and should be a fun experience.” Conversely, a scant 6% look to their parents’ retirement as a guide for their own future.

“This study supports the fact that older adults view our communities as a place to grow and thrive, and is a primary reason we want to change the perception of older adult living through our new brand,” said Richardson.

As part of its new identity, Vi has launched a website at www.viliving.com. A comprehensive marketing campaign to support the new brand will begin this fall.