A slow week for news, so we thought we would look at what is happening in the US for some light relief. Those that follow Levin Associates and their coverage of the village and aged care M&A deals that occur in the US will know that the market is very flat. Most of the major village operators like Sunrise have collapsed under too much debt while few developments get going without County or State support in some form. People who want to join a retirement community cant sell their family homes and nor can the owners of retirement homes. Check out these two examples found in less than a minute on the web, one a resort park home, the other a traditional village ILU. Homes priced form $40,000 to $125,000 in good areas.
$39900 / 3br – Modular Home, 50+ Retirement Village (Worthington, PA)
For Sale by owner: Double Wide Modular Home at the Armstrong Retirement Village, Worthington, PA.
$125,000 / 3 bedroom retirement home also in Pasadena
Leading developer and manager of US vertical villages, HarborChase is currently building its most advanced development yet, a 96 unit community in Lady Lakes, Florida, at development cost of $21.6 million or $225,000 each including land and holding costs. Something we cant match. They report they have leant the three specific experiences that must be the design foundation for any successful community are wellness, dining and technology. Havent heard this said in Australia.