Love Ageing

$430m investment to give Mornington Peninsula (VIC) four new retirement villages

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Residential property developer Steller plans to deliver 1,300 new homes and 500 ages care beds across the suburbs of Rosebud, Mornington, Bittern and Hastings – an hour south of Melbourne CBD.

As we reported here, Steller began its five-year strategy of entering the aged care industry in 2018 after purchasing the closed Como Private Hospital (VIC). They now have around 14 retirement and aged care assets in development.

The new Peninsula projects have been designed by veteran aged care and retirement village design firm, Via Architects.

Via managing director, Frank Bambino, says the new villages’ design is a more open and communal alternative to what has been a typically “segregated” approach to retirement village sites in the past.

Stellar CEO, Simon Pitard, says the villages will offer residents a “holistic” approach to retirement, with options for subsidised home care, on-site allied health and support services, and on-site aged care.

Steller expects to lodge plans with Mornington Peninsula Shire Council early next year.

An artist’s impression of the Rosebud retirement village. Image courtesy of The Herald Sun.