Australian Unity’s Final Aged Care Installment gets the Green Light

Australian Unity is set to build a high-rise aged care and independent living tower on Melbourne’s city fringe, having recently gained approval from the Victorian Planning Minister.

The 12-storey Drummond St development will include 31 aged care apartments and 59 independent living apartments. It comes as the third and final instalment to the organisation’s Rathdowne Place Retirement Community.

With almost 50 per cent of the second stage being sold, there is much anticipation surrounding the final stage of Rathdowne Place. It will offer a number of different facilities to its residents, including a communal lounge and dining facilities, a 10^th floor terrace, as well as parking for cars, scooters and bicycles. Prices are expected to range from around $400,000 to well over $1 million.

Vertical retirement villages are a growing trend within the retirement living and aged care sector. They provide senior residents with the opportunity to live close to the inner city whilst also being within arm’s reach of essential healthcare and community facilities. Major players in the industry are recognising this, with recent developments emerging from Aveo, Leadlease and Stockland.