Work is about to get underway on a $150 million retirement village development on Victoria’s Mornington Peninsula which will have an emphasis on open space.

The construction of Australian Unity’s Peninsula Grange village will begin next month.

By the time the project is completed, the Mornington site will be Australian Unity’s largest retirement community with over 280 villas.

The group’s retirement living executive, Derek McMillan said the village will be set in a popular retirement location.

“So many people in Melbourne recognise the beauty of Mornington and have dreams of retiring on the Peninsula,” he said.

“The changing demographics of Mornington and the greater Mornington Peninsula area have created the need for diverse retirement living options.”

The heart of the new community will be a club house with a range of facilities including a heated pool, a gym, a day spa, a hairdresser, beauty therapy rooms, a library, a craft room and a workshop.

Outside, approximately six hectares will be dedicated to gardens, neighbourhood parks, walking paths and a large lake.

“The focus on open space, sustainability, community, security and recreation will see the creation of a new community that caters to both active and not so active retirees,” said Mr McMillan.

Nineteen two and three-bedroom plus study villas are now selling, with prices starting at $395,000.