Our third-largest village developer announced it is building two villages in Sydney and Perth under the new model, where residents have ownership of the home and land and can sell with no exit or deferred management fees, last year.
Now Stockland retirement living chief executive Stephen Bull has told The Australian they are keen to roll out the concept in other states once they get past planning legislation.
As ‘Aspire’ doesn’t fall under the Retirement Living Act, they need to get government support.
“There’s been some examples in Queensland where this type of product is not allowed for discrimination purposes,” he said.
“We’re trying to work through that at the moment because (Queensland) is certainly a market where we’d have opportunities to deliver it.”
The Four Corners/Fairfax/ABC media coverage drew negative attention to the traditional village model, but Stockland commenced this DMF strategy well beforehand.
Stephen Bull will be reviewing Stockland’s plans for the ‘Aspire’ model at our LEADERS SUMMIT on 15-16 March.
