HESTA finances $25M Australia-first ‘dementia village’ in TAS

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The industry super fund has invested $19M from its $30M Social Impact Investment Trust in the Korongee village at Glenorchy, 8km from the Hobart CBD, which will aim to recreate real-life experiences for up to 90 residents living with dementia.

The village is a partnership between the super fund and Not For Profit aged care provider Glenview, Social Ventures Australia (SVA) and the Federal Government who will supply the other $6M.

Based on a number of international best practice models, particularly the dementia village of De Hogeweyk in the Netherlands where residents live longer and take fewer medications, its design will be based on a typical Tasmanian cul-de-sac to allow residents to move about freely in a supported environment.

When complete in 2019, the site will house 15 homes complete with streets, a supermarket, cinema, café, beauty salon and gardens that will be open to both residents and the public.

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