Urban Visions Event - Aged Care & Retirement Living
The Urban Taskforce hosted their Urban Visions event in the Northrop Sydney office last Tuesday, focusing on Aged Care and Retirement Living. The evening brought together leaders in the space including Stockland’s, AJ+C, Kresner Group and Integrated Design Group to discuss the different types of buildings that are being constructed in response to such growth. To give us an insight into the future direction of the industry two projects were highlighted; The Residences at Cardinal Freeman and Advantage Care at Prestons Lodge.
Some key takeaways were;
- There is a huge demand for aged care and seniors living accommodation. And much of the current building stock needs to be upgraded. Developers face challenges competing with the residential market – it was said that an aged care facility has to triple the density and double their market value to make it a viable upgrade.
- It’s critical that modern developments ensure our most vulnerable and aged community members can live out their lives with dignity and comfort. The creation of light homely spaces is paramount so that residents feel comfortable and at home.
- There is only an arbitrary number of bed licenses handed out by the government each year. This creates massive uncertainty for developers.
- The differences between senior’s living and aged care. Senior’s living is typically for over 55’s looking for a lifestyle change, a chance to downsize and to live with like-minded people in the comfort and security that these villages provide. Aged Care is acute care. Residents are on average in this care for the last 18 months of their lives. Designed for the elderly requiring full time care in a highly supportive environment.
At Northrop, we have a wealth of experience designing aged care facilities. We appreciate being able to contribute to an industry that ensures the comfort and safety of those we love as they get older.
We host regular Urban Taskforce events. You can view all upcoming events here.