Retirement villages are facing new competitors, created by ex-village executives who identify changing demands by the emerging Baby Boomers.
In our 5 June edition of SATURDAY, we showcased Rod Fehring, Ex-CEO of Lendlease Retirement, John Frame, Ex-Baptistcare WA and Bethanie and Simon Militano, Ex-Head of Development, also at Lendlease.
Today we review Simon’s project and his vision.
After 22 years with Lendlease, Simon now advises clients on developments and has taken a lead role with private residential developer Platino Properties. Together they have created Jardin, an Over 55s apartment development in Frenchs Forest, also 19km north of Sydney.
Positioned squarely against retirement villages, it markets itself as:
“an innovative way of community living incorporating the safety, security and social aspects of retirement village whilst maintaining their independence, privacy and financial freedom of living in a residential apartment”.
- 20% larger apartments
- strata ownership/no DMF/100% capital gain
- safety and security of like-minded neighbours
- but you are not ‘gated off’ from the broader community
- adaptable apartments that change as your needs change
- on site concierge team
- expansive resident only facilities
- resident activities and classes
- retail on site
They have engaged Melbourne’s Zinnia Integrated Living concierge service, full ageing support tech services, and user pays services such as cleaning, meal delivery and medical services.
Still in construction, Jardin is close to being sold out.
The Jardin demonstrates that demand still exceed supply of age-appropriate housing plus the attraction of the concierge support.