Love Ageing

Another traditional village developer (TriCare) launches into land lease communities

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TriCare is planning a 600-resident retirement village and aged care precinct for Brisbane, filing an application to build a five-storey 250-unit retirement village, five-storey 200-bed aged care facility and a 169-home ‘relocatable home park’ on 11 hectares at Rochedale, 17km southeast of the CBD.

According to The Brisbane Times, TriCare purchased the site, formerly the Steggles chicken farm, for $15.3 million in 2007.

The first stage would be the single-storey, relocatable homes, which would each have two bedrooms and range from 131 to 153 square metres, and a clubhouse to be built over five stages, while the village and aged care facility are marked down for ‘future stages’. The timeline for the whole project is 15 years.

TriCare already has nine retirement villages and 15 aged care facilities across NSW, QLD and VIC, but the move into land lease communities would be a first for the provider.

The application refers to the recent retirement and aged care incentives introduced by the City Council in 2016 which said retirement and aged care housing options in Brisbane needed to increase 50% in the next 10 years.

“The proposal seeks to deliver an integrated ‘ageing in place’ lifestyle, retirement and aged care community that will add to the diversity of housing options available within the locality and respond to identified community and economic need for additional housing options for older persons within the catchment,” it states.

The Gannon family was the first retirement village developer to move into LLCs. We are still waiting for a Not For Profit to join this affordable housing movement.