Plans have been unveiled for the Georgian-style retirement home in the leafy Melbourne suburb, acquired when Aveo bought the Freedom Aged Care business in February 2016 for $215 million, to be turned into 31 multi-million-dollar apartments.
James Packer and Todd Nisbet, Crown Resort's Executive Vice President – Strategy and Development, own 85% of NPG Maleela, the name on the proposed development, with real estate investor Joe Gersh AM's Gersh Como Pty Ltd owning the other 15%.
Architect and interior designer Cera Stribley has designed the proposed low-rise, four-level building on the 3,862sqm site. There will 10 two-bedroom, from 114sqm to 140sqm, and 21 three-bedroom apartments, of which 18 have completely different floorplans. They range in size from 150sqm to three penthouses, which have 310sqm and 361sqm of space, each with three master suite bedrooms and two living rooms.
Gersh, Packer and Nisbet are also partners in another large-scale property project, an affordable housing development in Corio, Geelong, called Edenville Corio, which is awaiting planning approval.
Aveo's sale to NPG Maleela appears to have been conducted off-market in recent weeks and is yet to settle.
The Weekly Source reported in January 2024 that Tanah Merah retirement village in Loganholme, 30km south of Brisbane, is the third former Freedom Aged care site sold by Aveo to the Queensland Government for social housing.
Browse villages.com.au for the latest on Seniors Living including availability.
