Eureka, Australia's largest dedicated provider of seniors rental accommodation, has received approval from City of Gold Coast to redevelop its 21-unit village in Southport, acknowledging that the facility has reached the end of its useful economic life.
The redevelopment of Eureka Pioneer Place will deliver an 11-storey vertical seniors build-to-rent complex, featuring 153 independent living units (ILUs) – 81 one-bedroom and 72 two-bedroom apartments – all with private balconies ranging from 7sqm to 38sqm.
An economic needs assessment by Bull & Bear Projects stated the project “provides a genuine alternative to the ‘buy-in’ model (of retirement villages and land lease communities), easing the financial burden expected by older persons who seek independent seniors living.”
The proposal includes 934sqm of communal space across the ground floor and rooftop, as well as 149 car spaces split between the ground level and two basement levels.
This approval marks the first retirement living project under the Southport Priority Development Area Development Scheme.
