The Council says it has invested nearly $80 million in its Blue Haven Bonaira development, just 10 minutes’ walk from the beach, which will include a 134-bed aged care facility and 59 retirement living units on the site of the old Kiama Hospital – that’s around $534K per bed/unit.
The project is also being funded $18 million provided by the NSW Government including $8 million through the Restart NSW Illawarra Infrastructure Fund.
The Federal Government is also providing $2.39 million through its Community Development Grants program.
The question is now – will the development’s expensive price tag be reflected in the units’ sale prices?