Banks in today’s market will generally not finance a vertical village, according to the panel of Richard gates (ANZ), John McNamara (Bendigo & Adelaide) and John Perry (Argyle Residents Group). They agreed that a staged development of a up to 20 ILU’s with 50% pre sales, an experienced operator, experienced sales and marketing team and approaching 50% equity would be the starting line for consideration. As a result vertical villages will remain the domain for Not for Profits, that have the cash or the land bank – or both.