ACH Group is aiming to provide an affordable retirement living offering in the central location, with the $25 million Spence on Light project.
The Not For Profit developed the 13-storey, 75-apartment building in partnership with the State Government, South Australian Housing Authority and Housing Choices South Australia.
The allotment includes 16 apartments for seniors with limited housing opportunities.
Apartments are priced from $138,000.
ACH Group CEO Frank Weits says there is a lack of affordable housing for older people, especially in the inner-Adelaide area.
“We are delighted to take this opportunity to support older people as we continue ACH Group’s tradition of challenging traditional services models and finding new ways to support people to live well as they age,” he said.
Spence on Light joins ACH Group’s portfolio of over 900 retirement living units, located in the suburbs of Adelaide.