Cedar Woods Properties Ltd and St Ives Group are busy planning their first joint-venture development, which could transform the former Carine TAFE site into an integrated residential, commercial, resort-style retirement and aged-care village.
Cedar Woods Properties Ltd and St Ives Group are busy planning their first joint-venture development, which could transform the former Carine TAFE site into an integrated residential, commercial, resort-style retirement and aged-care village.
The companies were recently chosen by the state government as preferred partners, together with LandCorp, for the redevelopment of the eight hectare site, near the corner of Marmion Avenue and Reid Highway.
The preliminary design of the facility caters for a wide cross section of the community, from younger singles and families to retirees, by incorporating single and multi-level residential apartments, a child care centre, retirement village and a 120-bed aged care centre.
St Ives joint director Russell Halpern said the partners wanted to create a development which lifted the bar in terms of quality accommodation and sustainability, and one which would make a significant social contribution to the community.
St Ives has a portfolio of more than 1,350 retirement units and residential care facilities worth more than $400 million across sites in Kallaroo, Leederville, City Beach, Cloverdale, Myaree, Murdoch, Mandurah and its flagship in Subiaco.
“Our vision is to create a place where facilities across ages are shared and public spaces are activated to provide meeting places for the young, to strengthen families, stimulate retirees and provide opportunities for the elderly to continue to contribute and participate in community life,” Mr Halpern told WA Business News.
“The concept is unique in that there could be capacity for those living in the estate and surrounding communities to “age in place” and be provided with appropriate services in their retirement years without having to move home.”
In keeping with St Ives ‘ageing in place’ focus, Mr Halpern said the facility could also comprise an allied-health wellness centre, day-respite services for seniors and dementia-specific aged-care accommodation.
Cedar Woods chief executive Paul Sadleir said community consultation and meetings with the City of Stirling would help to define the type and number of dwellings at Carine.
He said a range of sustainability initiatives, encompassing water and energy efficiency, recycling and waste minimisation were being considered for the project.
“A life cycle analysis is intended to be undertaken to determine how the project can best reduce its environmental footprint,” he said.
The partners are also considering the integration of state-of-the-art communications technology which could support home care residents and young mothers with on-call health services.
Mr Sadleir said community consultation would likely commence around February and March 2008, followed by a lengthy planning and approvals process over 2008.
Construction was not expected to start until early 2009, and if all went to plan, the first stage of the retirement village could be ready to open by late 2010 at the earliest, he said.
Aside from Carine, Cedar Woods and St Ives are also considering a possible joint venture opportunity in Albany which is currently under due diligence assessment.
In the meantime, St Ives has started work on the expansion of its aged-care facility on the Murdoch University Campus, which is being expanded from 34 beds to 140 beds.
St Ives is also due to start work on a 95-bed aged care unit and rehabilitation centre next to the proposed new Busselton Hospital.
