Australia’s leading retirement owner, operator and manager Aveo Group has received planning approval for a $62.5 million project on the Gold Coast.
The 2015m2 Frank Street site will accommodate 96 one, two and three bedroom Independent Living Units over 16 levels, providing homes to more than 150 seniors upon completion.
Aveo will commence design documentation in the coming weeks and plans to tender for the construction of the building in late 2018, with anticipated completion in 2020.
On-site amenities will include a heated pool, gym, sauna, community lounge, media room, arts and crafts room, dining and bar facilities, as well as consultancy rooms for visiting health professionals.
Aveo Group CEO Geoff Grady said the buyer demand and unrivalled location were key considerations when choosing to build this type of community.
“The needs of today’s retirees are changing and we know that our future residents won’t want to leave their familiar suburban areas – they’ll want to remain connected in their local community when they choose to retire,” Mr Grady said.
“This vertical living concept affords residents the convenience of being situated in a popular beachside postcode, with the added peace of mind that they can have access to the best possible care and health services within the community, as and when they need it.
“Labrador’s proximity to the Broadwater attracts many seniors who enjoy walking along the beachside, and the area itself has seen many changes over the last 10 years, so we’re particularly excited to be part of the transformation.”
Located at 10-20 Frank Street in Labrador, the site offers an easterly aspect that provides views across Len Fox Park to Main Beach and the Broadwater, while the south-facing apartments will boast panoramic views to Southport and Surfers Paradise. Hinterland views will also be seen for the western frontage.
This development will mark Aveo’s sixth retirement community on the Gold Coast.