From across Asia two of the Mark Moran group facilities have been shortlisted in the 3rd APAC Eldercare Innovation Awards, staged in Singapore.
Mainly responding to the success of their Mark Moran Little Bay facility, which they purchase from St Lukes about four years ago and reworked the business, culminating in doubling the occupancy and increasing bonds by 100%, the recognition is based around their dementia and rehabilitation programs.
There are new Vaucluse co-located village and care facility, designed by Marchese Partners, is set for an architectural award.
The categories are:
– Best Active Ageing Program: Mark Moran Happiness Program by Mark Moran Group, Australia
– Best Dementia Care Programme: Mark Moran Remembering Together by Mark Moran Group, Australia
– Best Rehabilitation Operator: by Mark Moran Group, Australia
– Best Silver Architecture: Mark Moran Vaucluse by Mark Moran Group, Australia
New retirement village development set to hit 2,600 units in 2015 50% below target
our back of envelope analysis of new unit development in retirement villages across the country identifies 2,600 units will be finished in calendar 2015. This is an increase of 1100 units over 2014, or 73%.
However to maintain penetration at 8% of all households a 75+ construction needs to be a minimum of 5,500 units per year and increasing; the sector is going backwards.
The top three village developers account for 625 units or 24%. They are Stockland (300), Oak Tree (175) and Lend Lease (150). The top 20 combined will deliver 1,680 units.
Across the 2600 units built, allocating and average capital investment of $300,000 delivers funding into the sector of $780 million. Another $1 billion capital is required, not to mention the land.
In the short term only not for profits have the balance sheets and the land, plus the mission, to deliver this volume.