The Not For Profit has paid an undisclosed amount for the 4,159sqm site of the vacant Tiffins on the Park hotel as part of an ambitious development plan.
ECH now owns the entire 8,000sqm site between George and Anglo Street, which is already home to ECH’s head office and five apartments.
The provider now plans to demolish the 50-room hotel and develop a masterplan for the site within 12 months which is zoned for developments up to seven storeys high.
CEO David Panter says the site’s close access to transport, retail and medical and community facilities make it the ideal location for a new hub.
“At this stage, it’s too early to say how many apartments will be built on the site but each minimum two-bedroom apartment will be about 100sqm, well above the CBD average of around 70sqm. This is very much in keeping with our model of independent living for older South Australians,” he said.
“The site will also feature a Wellness Centre that will be available to members of the public.”