This project will be the first new purpose-designed, age-appropriate retirement living offering in New Farm for many decades.
Although New Farm has a population of more than 12,500 (2021 census) there are only 14 retirement living dwellings, which were built in 1965.
There is significant unmet demand for retirement living here and in the inner suburbs. Across the inner-city catchment there is unmet demand for more than 700 retirement living dwellings.
There is current demand for about 120 retirement living dwellings in New Farm. This number will continue to increase without delivery of new retirement living dwellings.
In coming years, there will be more seniors living in New Farm. By 2029:
- 65+ population is expected to have grown by 24% (2,700 people)
- 70+ population is expected to have grown by 26% (1,900 people)
Existing need
Several hundred senior New Farm residents currently receive care at home for their daily living needs. Our retirement living model includes flexible care support when needed within a retirement living community format, tailored to the individual health and lifestyle needs of seniors and retirees.
Research demonstrates retirees and seniors want to continue living in their neighbourhood to be close to family and friends. They want to maintain their local networks and continue to enjoy the activities and services with which they are familiar, in a safe and secure community. Retirement living allows people to remain active, to participate in community life and to remain independent for longer. This can delay the need to access aged care by many years.
The benefits of retirement living
When choosing an independent living apartment within a Bolton Clarke retirement living community, our residents experience many advantages.
The benefits and advantages include:
- Downsizing and right-sizing when they no longer want to look after a larger property.
- Less property maintenance and more free time doing things they really enjoy.
- Maintaining living independence within a purpose-designed age-friendly community.
- Living safely and securely within a community of active-ageing residents and exploring shared interests, hobbies and adventures.
- Opportunity to live within their local community to maintain contact with family and friends.
- Maintain an active life with less risk of social isolation.
- Option to ‘age-in-place’ with access to support and services if, and when, needed.
Transitioning from home
Many seniors and their families find the transition from their long-term home into more age-appropriate housing to be difficult, emotional and stressful. This lifestyle change is made easier with quality retirement living choice close by. A transition away from family, friends, local clubs and shops can be forced on families if there are no local options.
James Mantis, General Manager, Property Development & Asset Management, Bolton Clarke
