Affordable housing planned in Lane Cove ‘vertical retirement village’
A ‘vertical village’ retirement home has been earmarked for a residential street in Lane Cove under plans to increase affordable housing for senior residents in the region.
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A ‘vertical village’ retirement home has been earmarked for a residential street in Lane Cove as demand for aged care facilities continues to rise across Sydney.
Plans released by RetireAustralia show the 93 room development on 40A Cope St would have 29 independent living apartments and 64 assisted care units on the 4495 sqm site.
RetireAustralia said 10 per cent of rooms in the seven storey building would be provided to residents at “affordable rates”.
This comes as new research shows a rising shortage of affordable housing and rental properties for aged residents in the Sydney region.
In a survey by Anglicare of more than 69,000 listings in the last 12 months only 0.8 per cent of properties were considered affordable for a single person on the Age Pension, increasing to 3.2 per cent for a couple.
RetireAustralia said the development would “provide an increased level of housing for older Sydneysiders particularly those in the Lane Cove LGA who wish to age in their local community”.
Plans state the development was “permissible” under planning laws allowing “vertical village” seniors developments in residential zoning on the proviso a percentage of rooms are delivered at affordable rents.
If approved, two homes would be demolished on the site to make way for the development.
Plans show the facility would have communal areas including dining areas, a gymnasium, library, cinema, rooms for GPs and a ‘village bus’ to transport residents to shops and health facilities.
The proposal is currently being considered by the Department of Planning.
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