A community apartment project (CAP) exclusively for over-55s in the master planned Glenside (pictured), 4.9km southeast of Adelaide’s CBD, is regarded as a first for SA.
The development will not operate under the Retirement Village Act and buyers are able to acquire a 100% ownership in their apartment, meaning all capital growth is retained by the owner.
However the eight-storey block, known as Bloom, will be designed to look and act like a retirement village, with 63 one-, two- and three-bedroom apartments, penthouses, sub-penthouses and terraces and a range of shared amenities and services for residents.
There will be a swimming pool, pavilion, wine storage area, library and elevated community garden plus “lifestyle concierge services” to co-ordinate residents’ shopping, restaurant bookings, social gatherings, arts and event bookings, cleaning, pet care and vehicle care and maintenance.
Cedar Woods SA Development Director Mark Pivovaroff said the CAP would be a “game-changer for the Boomers of South Australia”.
“We’re delighted that Glenside will be home to South Australia’s first community apartment project, with 100% ownership and the first project of its kind for Cedar Woods, with plans to roll out more in other states,” he told The Advertiser.
The total area of the $400 million Glenside (pictured) is 16.5ha, and once complete, there will be approximately 1,000 homes built, consisting of both townhouses and apartments, with 30% of the site for public open space.