2009 has seen NFPs successfully forge ahead with low and medium rise boutique village developments while private operators have been struggling. Often the NFPs kick off with a valuable property in a prime location, the best example being the Royal Freemasons Redmond Park development in Carlton (20 minutes from Melbourne CBD) with 61 apartments/ILU's. Just completed, it has only three ILU's unsold, each around $750,000. The Freemasons engaged Tracey Forbes and John Prowse (Prowse Consulting) to manage the project. Southern Cross (SA) in Adelaide is building luxury apartments at Myrtle Bank and has just invested another $8 million buying a 24,000 sqm site across the road.
Aveo should set the sales and valuation benchmark for all For Profit and NFP village operators: $385K per ILU contract
So Aveo built this demand through rebranding, relaunching and very active promotion on vehicles like our villages. com. au