Not-For-Profit Brisbane Housing Company (BHC) has celebrated full occupancy at its first affordable retirement community, Arbor Sherwood, with a tree planting attended by state MPs.

Arbor Sherwood, completed in December 2019, is a 52-apartment complex with units selling for around half the median house price in the area, using a flexible payment scheme where residents could pay one of three upfront costs, the two lower packages accompanied by a weekly accommodation fee.

The development achieved full occupancy, from completion to final deposit taken, after 19 months; the occasion was marked by an afternoon tea attended by the Hon. Leeanne Enoch MP, Minister for Communities and Housing, and Jessica Pugh MP, Member for Mount Ommaney, at which a native ivory curl was planted on-site.

BHC CEO Rebecca Oelkers says Arbor Sherwood is a success story, becoming a sought-after alternative to traditional retirement villages and a place with a strong and supportive community.

“BHC’s vision for Arbor was to create a truly affordable retirement option for residents to enjoy- offering a high standard of living but also importantly, financial flexibility for residents.

“This vision has truly come to life at Arbor – a beautiful retirement village, well located to all the amenities residents could ask for, in the lush, tree-lined suburb of Sherwood,” she said.

According to Susie Arthur, Retirement Living Operations Manager at BHC, the team is happy with the result despite sales being initially impacted by COVID.

“The small team has been better able to manage the settlements as they were progressively staggered.

“Their focus could be on managing the needs and concerns of residents caused by the lockdowns and restrictions, followed by the complications to the incoming residents, many of whom were from interstate,” she said.

The development contains 14 1.5-bedroom apartments and 38 two-bedroom apartments, all listed for between $350,000 and $450,000.