‘Vertical retirement’ set to be norm in radical high-rise plan
New plans show Sydney’s next generation of retirees are staring down radically different living conditions defined by high density.
Forget sleepy retirement villages - new developments are redefining the concept of Aussie retirement, with eight of 10 new retirement projects in Australian cities now reaching for the sky.
Many Sydneysiders have already made the move to apartments for their golden years, posing the question if high-rise will entirely replace the traditional retirement narratives in years to come.
According to Retirement Living Council’s executive director Daniel Gannon around 80 per cent of development applications for retrement villages in our cities are vertical in nature, developed as multi-level buildings rather than horizontal.
“Baby Boomers have never followed the rule book – and retirement is no exception,” he said.
“Backyards are out, balconies are in – and for retirees, the sky’s the limit.”
Mr Gannon said the result is greater amenities.
“High-rise living isn’t the future – it’s become the new normal,” he said.
Mr Gannon added that by 2040, the number of Australians aged over 75 will surge from 2 million to 3.7 million – an 85 per cent increase in just 15 years.
“That’s why the industry is laser-focused on delivering age-friendly housing for this silver tsunami,” he said.
The tallest retirement village in Australia ‘The Cambridge’ recent opened, with three seniors abseiling down the new building’s 28 storeys in Epping, NSW.
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The 158-apartment building by Levande is one representation of vertical builds catering to the ageing population and housing shortage.
Levande CEO Kevin McCoy said the building is designed to foster intergenerational connection combining retirement living, aged care, parish facilities and a primary school.
“To officially open The Cambridge, we wanted to do things a bit differently and show Australians that the magic doesn’t end in retirement,” he said.
“With The Cambridge, we’re shining a spotlight on vertical retirement living as a unique solution for a rapidly ageing population,” Mr McCoy said.
According to Mr McCoy, by building in more densely populated neighbourhoods like Epping, older Australians can remain closer to the communities they’ve called home for decades, maintaining proximity to family, friends, healthcare providers and familiar services, while still reaping benefits of retirement living.
“This generation of retiring baby boomers are looking for different and better options than earlier generations,” he said.
“They’ve been disrupters all their lives and vertical retirement living is just another way they’ve shaken things up.”
Mr McCoy said they are convinced the model will be an important part of their development strategy going forward and are actively looking for suitable sites, particularly in Sydney and Melbourne.
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Mr Gannon said older Australians aren’t moving into retirement communities to slow down but to stay connected.
“They want high-quality homes with less maintenance, more amenity and stronger ties to the suburbs they’ve lived and loved for decades,” he said.
“Vertical villages deliver all of that, without pushing people to the suburban fringe.
“Sydney, Melbourne and Brisbane are leading the charge.”
Mr Gannon said there was a catch.
“If most retirees want to stay in their communities, we’ll need more vertical options into the future,” he said.
“That means planning pathways must be smoother, because age-friendly housing isn’t a luxury – it’s a necessity.
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“As our population ages and cities grow, vertical villages will be one of the most powerful tools to keep older Australians healthy, connected and independent for longer.”
The Demographics Group Co-Founder and Director Simon Keustenmacher said the social aspect of retirement living remains.
“It’s the older equivalent of a university college where you hang out with people you are at a similar life stage,” he said.
“Whether you put this vertical or whatever this looks like is secondary.”
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Mr Keustenmacher said the mental health benefits that come from socialising in developments in old age was a factor that remains important no matter how the development is constructed.
“You would still create shared amenities and communal spaces in these dwellings,” he said.
“You throw in a rooftop garden instead of a traditional garden.”
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Mr Keustenmacher said the majority of those moving into vertical facilities are looking to retire locally living in the middle suburbs of Australia’s big cities.
“You go up by necessity because the market consumers demand the locality and the design adjusts,” he said.
Mr Keustenmacher said this is just another aspect of how we need to rethink what modern retirement and retirees look like.
“When we think retirees we probably still think of people who look like the golden girls and this is not what the modern retiree looks like,” he said.
“They want a different lifestyle and housing will reflect this to a certain degree.”
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Originally published as ‘Vertical retirement’ set to be norm in radical high-rise plan
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