Such a community needs good planning and steady guidance, but when it works, it's wonderful -- as at the co-operative dormitory I experienced at university.
What with longer lives and fewer cohesive extended families these days, like-minded elders could well form their own best support systems. (Check out the historical Beguines, or the modern film-based retirement complex in Southern California. Of course, actors have more money....)
Still, this idea could be just the ticket for warm gathering-in, and a terrific vehicle for sharing-out. I love the idea of residence groups holding music circles, workshops, classes and even festivals!
I hope to retire soon, and I'd prefer finding just such a setup.
Rock on, fellow folk geezers!