Montefiore cuts seniors housing plan but costs rise 47%

Montefiore has scaled back its North Shore seniors’ living proposal, but costs have continued to climb.

Montefiore’s plans for a new integrated seniors’ living community on Sydney’s North Shore have been reduced, with the revised proposal now on public exhibition until 5 August.

The Not For Profit operator originally sought approval for 143 independent living units and 52 aged care beds on the Masada College-owned site at St Ives, 18km north of Sydney’s CBD.

The new plan is for the construction of four buildings ranging in heights from five to eight storeys (instead of nine storeys), comprising:

• approximately 126 Independent Living Units;
• approximately 48 residential aged care beds;
• a range of resident amenities and facilities;
• allied health premises including physiotherapy, hydrotherapy and consulting rooms for the use of residents and the general public; and
• basement car parking containing approximately 260 spaces.

“The project was reviewed by the State Design Review Panel (SDRP) on two occasions, with feedback from the SDRP implemented into the design of the development, resulting in a refined and high-quality built form and urban design which responds to the context of the site and minimises adverse impacts on neighbouring sites,” said Urbis’ Associate Director Belinda Thomas.

Despite the smaller proposal, the estimated development cost has climbed to $294 million, up a staggering 47% from the $200 million estimate lodged in November last year. Quantity surveyor Rider Levett Bucknall estimates the total capital cost, including GST, at $324 million.

Listings website villages.com.au currently lists Montefiore as the owner and operator of Montefiore Hunters Hill, Montefiore Randwick and Montefiore Woollahra.