Ryman Healthcare has bought land in Coburg North earmarked for a $350 million retirement village and aged care home, Australian Ageing Agenda reports.
The New Zealand-listed company plans to transform the 2.6-hectare site into an integrated retirement village combining independent living apartments with an aged care centre that will provide specialist dementia care.
The Gaffney Street development will be less than 10 kilometres from Melbourne’s central business district. Ryman Australia CEO Cameron Holland said the location would offer residents a bustling city lifestyle surrounded by restaurants, cafes with public transport options right on their doorstep.
The Ryman development will create more than 130 long-term jobs for the area as well as work for hundreds of tradies and contractors during its construction phase.
It will include the provision of new commercial space nearby, adding the potential for retail, hospitality and health service operators within the retirement village precinct.
Ryman has seven other sites at various stages of the planning, design and construction process in Essendon, Ringwood East, Mt Martha, Mt Eliza, Highett, Mulgrave and Kealba.
Ryman announces new village for north Melbourne (Australian Ageing Agenda)