Developer hedges bets on Adelaide retirement village proposal​

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A property developer will continue seeking approval for a four-storey 76-unit retirement village in the Adelaide suburb of Magill, 7km from the CBD – but has lodged plans for 31 residential units as a back-up.

Renato Obbiettivo, Construction Manager at BADG Group, one of Australia’s largest privately owned builders which works across both the retirement and residential sectors, says his preferred option is for the retirement village proposal, which suggests better financial returns, but he is prepared to change plans if necessary.

Residents have voiced concern about the proposal for the retirement village on the site at Alton Avenue and Bricknell Street, saying the proposed building was too big and out of character for the area.

An example of the difference between returns for retirement villages and a regular apartment development.