CONSTRUCTION is underway on a $200 million 19-storey vertical retirement community in Brisbane's Gasworks precinct.
Aveo, the country's second largest retirement village operator, said it has already received "significant interest" ahead of the May sales launch for local and interstate buyers looking for apartment-style retirement living in the heart of the city.
The Aveo Newstead development, in the hip inner city suburb of Newstead, will include a mix of independent living apartments, including penthouses and full service apartments, along with an aged care facility and direct access to the Gasworks retail precinct.
The fifth floor will feature over 3000sqm of landscaped gardens including an activity lawn overlooking the heritage-listed Gasometer.Inside there's also a bar and restaurant, demonstration kitchen, lounge, golf simulator, private movie theatre, billiard room, business centre and craft room.
Aveo Group's CEO Geoff Grady said vertical living was the "next logical approach for retirement communities, as increasingly, discerning buyers are demanding easy access to lifestyle amenities, spacious indoor living areas and desirable inner-city locations".
"Within 30 years, Australia's retirement living market will be at least double the size of what it is now, and to continue to offer centrally located retirement communities, the need to develop skyward will increase due to limited space," he said.
"Retirees still want the lifestyle and location that residential buyers in the inner-city are looking for, so we are leading the charge to innovate and meet this demand with premium vertical living options.
"Moreover, having aged care accommodation on-site provides the peace of mind many retirees are seeking when moving to a new community in later life."
The community will also feature a health and wellness retreat with access to GPs, podiatrists and massage therapists.