Construction of the single-stage development, which will adjoin the new Tarragindi Bowls Club and club house, is expected to start later this year and will take 18 months to complete.
The Green, which will feature 94 independent living apartments, is a partnership between RetireAustralia and the Yeronga Services and Community Club. 70% of the site is dedicated to open space.
It will include a new championship-quality bowling green.
RetireAustralia owns and operates retirement villages in 29 locations across NSW, Queensland and South Australia.