New retirement community reinvents fixed-price approach
The first residents are moving into Nundah’s newest retirement community, Alondra Residences, taking up the project’s industry-leading flexible pricing options.
Launched this month as youfirst, the model reinvents the standard fixed-price approach for independent living units and is the vision of not-for-profit and Alondra Residences operator, Lutheran Services.
One-bedroom apartments at Alondra are priced from $430,000.
Lutheran Services CEO, Nick Ryan, said youfirst responds to the increasing demand for more flexibility and choice when it comes to retirement living.
“Alondra Residences is our 12th community and from decades in this industry, we are seeing that downsizers and Baby Boomers want even more from their retirement years,” Mr Ryan said. “The motivation behind youfirst is that we put the real benefits of retirement living back in focus, especially when it comes to how residents pay for their new home.
“Youfirst means retirees can choose to pay less when they move in and defer a portion of the purchase price until it’s time to re-sell, leaving more savings for what they love to do. They can also pay more upfront if that works better for them financially.
“With the features of Alondra Residences combined with our youfirst model, we are really excited about this new benchmark for retirement living.”
Research released by Urbis at The Urban Developer conference this month referenced a significant demand for retirement living, with increasing life expectancy for both women and men along with average annual growth of 4.1 per cent in resident populations over the age of 65 since 2011.
In line with this, more than 6000 retirement units are approved for Brisbane’s development pipeline in addition to the 8000 existing retirement properties.
Around 65 per cent of the approvals are for mid to high-rise communities, signalling the continuing appeal of vertical retirement living.
Alondra Residences is co-located with Lutheran Services’ Zion aged care community in Union St, with 52 apartments over seven levels with transport and shops close by.
The project was inspired by extensive market research and the award-winning communities of Switzerland.
To view what is on offer, the public is invited to the opening of Alondra Residences on October 12.