A 10.6ha farm in the popular coastal region in South Australia is poised to become 181 Over 50's land lease dwellings with a clubhouse, a bowling green and outdoor pool under the State's Residential Parks Act 2007.
Aspen Normanville will include a short-stay caravan and tourist park with 20 tourist cabins, 20 caravan sites with ensuites and 79 camping sites.
A land lease agreement sees the person buy the home and pay fortnightly rent for the land the home sits on.
“Aspen aim to provide housing at price points of approximately $400k per dwelling and have a track record of achieving this,” states a report by town planners URPS to Plan SA.
Most residents in Aspen's land lease communities are eligible for Commonwealth Rent assistance. Aspen, which is trying to take over the pure-play Over 55's rental community operator Eureka, specialises in affordable lifestyle, living and holiday park communities.
“Notwithstanding the different operating structure, the proposed development will have the appearance and functions of a contemporary retirement village in a landscaped setting,” said URPS.
“Residents will have access to a range of amenities and facilities on site to promote social interaction and connection across the holiday and lifestyle park.”
Both the caravan park and retirement estate would be jointly managed and operated.
Further Over 50's land lease estates planned in SA are Oceane's 272-home land lease community in Victor Harbor, BestLife's approved plan for a 300-homes resort also in Victor Harbor, and Living Choice wants to create a 229-home community in Murray Bridge.
