Construction has begun on Reside Communities’ new up-market retirement village, Esperance at Hope Island, 19km north of Surfers Paradise, with almost 1,200 jobs set to be created during stage one works.
Ex-RetireAustralia executive Glen Browne’s Reside Communities expects the construction to be built out over five stages and five years, as we reported here.
The project will deliver around 300 deluxe apartments and villas across five buildings with more than one hectare of green space alongside 150 metres of prime water frontage.
Future plans will include dedicated aged care living options and ground floor retail spaces.
Local retirees are already showing interest in stage one, which consists of two-bedroom, two-bathroom homes and three-bedroom penthouses.
“More than 30 per cent of stage one has been secured through expressions of interest, indicating how well Esperance has resonated with downsizers,” Mr Brown said.
Mr Browne created Reside Communities in 2018 and is now funded by Brisbane-based GreenFort Capital and $11B Hong Kong property fund Gaw Capital Partners with the express aim of building a “boutique” $600M, 1500-title retirement living portfolio.
