He developed the South Shore’s first 55+ community. Tom Hastings is still at it

Key Points

• Hingham real estate developer Tom Hastings is celebrating the 50th anniversary of his firm, The Hastings Companies.
• The South Shore’s first 55+ community, Leisurewoods in Rockland, is marking its 40th anniversary.
• In all, Hastings has developed more than 1,000 homes in Massachusetts, New Hampshire, Florida and California.
• The developer cites obtaining approvals, zoning bylaws and high costs as major challenges to building in Massachusetts.

Longtime South Shore real estate developer Tom Hastings will mark two major milestones on Sunday, Oct. 26: The 40^th anniversary of Leisurewoods in Rockland, the South Shore’s first 55+ senior community; and the 50^th anniversary of the start of his Hingham firm, The Hastings Companies, which has developed more than 1,000 homes in Massachusetts, New Hampshire, Florida and California.

“Other than making me feel old, I think it’s great,” Hastings told Wicked Local when asked about the dual anniversaries. “Of all the different communities I’ve developed, Leisurewoods is what I’m most proud of. It has changed people’s lives.”

Current and former residents of Leisurewoods are invited to an open house to mark the dual milestones from noon to 3 p.m. on Sunday.

A college dropout takes a shine to real estate

Hastings grew up in California but had roots on Massachusetts’ South Shore. His grandparents were longtime Rockland residents, owning a home across from what would become Leisurewoods.

After dropping out of college, where he was majoring in political science, Hastings moved to Florida and studied to obtain his real estate license.

“Back then you didn’t have to take the course, so I showed up and took the real estate test and became a Realtor, and the rest, as they say, is history,” he said.

He eventually moved to Massachusetts, settling in Hingham.

Hastings said he spent years studying senior communities around the country and wanted to incorporate their best traits into a community he would develop. He looked at their aesthetic surroundings, as well as their proximity to major roads, shopping areas and restaurants.

He said the property he would develop into Leisurewoods was somewhat forgotten; nonetheless, it took several years to earn approval from the town.

“Until we were able to develop it, everyone had preconceived notions and there was a lot of people against it,” Hastings recalled. “But once we started, that changed.”

He sold 150 homes at Leisurewoods that first year amidst “unprecedent demand.”

One of Leisurewoods’ first residents was Hastings’ grandmother.

“She lived in a large two-story home, and when my grandfather passed away her house became a burden,” he said.  “She moved into Leisurewoods, made friends and started socializing.”

The social aspect of his communities is a big sell, more so than even the residences, Hastings said.

“People will meet up with people they haven’t seen in while, they’ll meet new people, get out to exercise or dance classes at the clubhouse,” he said. “They’ll become more outgoing and start doing things.”

Hastings sold Leisurewoods in 1997, but still takes pride in what he started and how it’s going.

A developer’s challenges: economic downturns, earning approval

The Hastings Companies has developed several communities in southeastern Massachusetts, including Oceanwoods in Duxbury, River Ridge in Foxborough and several properties in Hingham, including BackRiver, Fulling Mill Farm, Hingham Commons and even an office park called Southwood Point.

“I’m always looking to do new things,” Hastings said. “The last thing I did was buy the old Building #19 at Hingham Shipyard from Jerry Ellis. I tried for 10 years to get him to sell it to me. It’s a great location.”

Being a developer can be tough, Hastings said.

“There have been downturns I’ve had to navigate through,” he said. “Real estate developers have become an endangered species in Massachusetts, because of the difficulties in obtaining approvals.”

But Hastings said communities are slowly starting to realize they have to have more innovative zoning solutions, which allows developers to work with communities to increase housing options.

“Hopefully, my story will be an inspiration to other 20-somethings who are considering looking into development, and things will change,” he said. “Otherwise, the youngest and brightest will go elsewhere.”

It’s not just zoning bylaws that are challenging, Hasting said, pointing to high costs for land and building materials.

One thing he eventually stopped worrying about: competition.

“When I first started out in 1972, I was worried about competition, but what I realized was that if I had a fantastic site and a great concept I didn’t have to worry,” Hastings said.

Developer is motivated by ‘finding great sites’

“One of the great things about being a real estate developer is that each development is unique,” Hastings said. “That was what motivated me; finding great sites and building great communities.”

He said he would attend Sunday’s anniversary celebration at Leisurewoods and looks forward to meeting new residents.

“It’s a great feeling to drive by a place 40 years later and realize that you had a hand in people having a great place to live,” he said. “I’ve been fortunate to be able to develop communities I am proud of.”