The family-run operator purchased the vacant 2.7-hectare block, located at Strathaird Boulevard in Smithfield, 30km northeast of the Adelaide CBD, from Renewal SA for $1.43 million, last year.
The new affordable housing community, to be named Playford Waters Lifestyle Estate, will be built in several stages with pricing starting at $220,000.
The Gannon family has been a pioneer in the retirement village sector, selling out to RetireAustralia in 2007 only to re-enter the sector in around 2011 and now developing four villages.
This is their second land lease community.