The Brisbane Housing Company (BHC) has moved into the retirement sector with its first village, Arbor in Sherwood, south of the Brisbane CBD.
The 52-apartment vertical retirement complex, which we first reported on here, contains 14 1.5 bedroom apartments and 38 two-bedroom apartments at well below the median price for the area, listed between $350,000 and $450,000.
The median house price for the Sherwood area currently sits at between $800,000 and $850,000.
Arbor Sherwood offers three unique contract modules so that customers can select their preferred apartment and then choose how they want to pay for it.
The flexible payment scheme would see prospective residents given the option to pay three different ways for the same apartment.
The three options are $155,000 upfront plus a weekly accommodation fee; $257,000 upfront with a weekly accommodation fee or $355,000 with no weekly accommodation fee.
For BHC CEO Rebecca Oelkers, the company’s strong not-for-profit values were at the heart of why they ventured into the retirement living sector.
“We knew that as a not-for-profit, we had the power to create a more diverse choice of financial options while still offering a high-quality built product and lifestyle,” Ms Oelkers said.