The mutual fund’s plan to build the tower with 31 aged care apartments and 59 independent living apartments alongside two existing towers at its Rathdowne Place village in Carlton, 3km from the CBD, has been given the tick of approval by VIC Planning Minister Richard Wynne.
The tower, which is targeting five-star environmental design rating, will also feature a communal lounge, dining facilities and a 10th floor terrace with apartments set to be priced from $400K to over $1M.
With over 50% of Rathdowne Place’s second stage already sold, Australian Unity is not the only provider to see a demand for inner-city high-rise retirement accommodation – Aveo, Stockland and Lendlease all have similar vertical villages in the works.
Uniting Communities is also currently building its 20-storey ‘U City’ tower with aged care and retirement units in Adelaide’s CBD.
