Calvary enters seniors’ rental market

A Calvary Health Care retirement village in Melbourne will now operate as a seniors’ rental site, and others could follow if the demand is there, says CEO Martin Bowles.

Sydney Williams retirement village in Melbourne’s Doncaster East is currently vacant and following a strategic refresh in 2024 and decision to better identify opportunities in their retirement village portfolio, Calvary Health Care has announced it will use the site as an opportunity to enter the seniors’ rental market.

Calvary has seen increased demand for this over the past six-to-12 months, national chief executive officer Martin Bowles told Australian Ageing Agenda, particularly as more older Australians experience cost of living pressures, while still needing to access suitable retirement accommodation without the initial upfront payment.

The village has eight two-bedroom units adjacent to Calvary Millward Residential Aged Care and represents the first fully dedicated seniors’ rental operation for Calvary. It is the only one of its kind in the Melbourne suburb and apartments are going on the market this month..

Martin Bowles (Calvary Health Care)

Mr Bowles told AAA that a site’s location and demographics and demand will contribute to whether a decision is made to transform more retirement villages, but Calvary will be adding the seniors’ rental model as an option for consideration.

The transformation of the village follows internal reviews regarding the not-for-profit’s accommodation portfolio and calls for a renewed focus to support the delivery of connect care across all Calvary services.

“Calvary is committed to serving the needs of the community and our decision to convert the operating model of our Sydney Williams site is in direct response to the enquiries we are receiving from those seeking affordable housing for seniors,” said Mr Bowles.

“This essentially means future residents will receive the same services and benefits of a retirement village including social connections, low maintenance living, security, all without the lump sum ingoing contribution.”

The site also has access to needs-based additional services, such as meals, through the neighboring residential aged care home. Calvary’s home care services will also be working with new residents to identify and access available funding for any additional services they might need in the future to maintain independence and the ability to age well in place, Mr Bowles told AAA.

Have we missed an upgrade or refurbishment? Send us the details and an image to editorial@australianageingagenda.com.au

Tags: aged-care, architecture, calvary-care, calvary-health-care, design, martin-bowles, retirement, seniors' rental market,

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