Mark Steinert, CEO of Australia’s largest residential developer, Stockland, presented its retirement village The Residences, Cardinal Freeman in Ashfield (Sydney) as “an exemplar project that sets the standard, not just for retirement, but for apartment-style living”.
“We believe this is a true reflection of density done well. We believe we are setting the benchmark for independent apartment living not only in Australia but for the world.”
Stockland won the 4ha site with its mature village when it purchased village operator Aevum in October 2010. It has taken seven years to negotiate with planners and residents to get to the completion of Stage Two which included the community facilities which were opened last week.
Stockland’s big point is their redevelopment has generated three times the open space of the original village and twice the community facilities, while delivering the market’s best quality apartment design.
“Through our involvement in these types of projects we’re driving the urban renewal process, creating great vertical communities,” Mr Steinert said.
Stockland Retirement CEO, Stephen Bull, acknowledged in his speech that it had been a journey for the existing residents and that at times there had to be hard conversations (but goodwill) on both sides. But now the residents have a world-class 1,350m² clubhouse and a cafe that will seat over 100 people, exclusively for the use of the residents.
When completed, the village will consist of seven boutique buildings of 240 apartments with a new, co-located, 130 bed Opal-owned care facility. The architect of the $180M development is Allen Jack + Cottier and the interior designer Alexander & Co.
The community facilities were officially opened by Luke Foley, Leader of the NSW Opposition.