Mirvac CEO Susan Lloyd-Hurwitz said in February she is looking to “press the button” to build and operate land lease developments.
Such a move would see it follow the faith of Stockland, Ingenia Communities, Lifestyle Communities, Aspen Group, Palm Lake Resort, Serenitas and Hometown Australia.
However, it appears still unwilling as Victoria Investments and Properties and Mirvac have given a planning permit to established operator Lifestyle Communities to develop a 7.1ha site in the Woodlea master-planned community, in Aintree, 29km west of Melbourne CBD.
Woodlea is currently home to 9,500 residents and upon completion, will effectively be a ‘mini-city in the suburbs’, with approximately 20,000 residents. Lifestyle Communities plans to start building its Over 55s community imminently with it to be built in stages.
“There are retirement units within the surrounding area but there is nothing of this size or calibre that integrates different living options within the same precinct, catering to working, semi-retired and retired downsizers,” said Woodlea Project Director Matthew Dean (pictured left with James Kelly, Co-Founder and Managing Director James Kelly).
“The Lifestyle Communities site will offer a residential offering to cater to downsizers looking to maintain healthy social connections, while also living in a high-quality community. It will also assist members of the community to maintain close living connections with older family members, collectively improving their health and wellbeing.”
