Industry superfund HESTA confirms $19 million invested in TAS dementia ‘village’

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A new direction for superfund investments?

The Health Employees Superannuation Trust (HESTA) is investing $19 million in the Korongee village through its Social Impact Investment Trust in a partnership with the Not For Profit care provider Glenview.

Designed by ThomsonAdsett, construction commenced last month. It will feature 12 eight-bedroom houses plus a café, supermarket, beauty salon and gardens.

Residents will walk around the village and shop at the supermarket.

The Social Impact Investment Trust aims to deliver an appropriate market-based financial return and measurable social impact.

An artist’s impression of the Korongee village.