Bendigo Council approves seniors development

Bendigo City Council has approved the development of a lifestyle community for seniors over 50.

Victorian council Bendigo City Council has approved the development of a $55 million lifestyle community for people over 50.

Vital Bendigo will be built on a 7-hectare next to Bendigo Golf Club in Ascot.

It will include architecturally designed homes built around a resort-style health and wellbeing centre near local shops and a railway station.

It will operate under a land lease model where the resident buys the house but leases the land it sits on to reduce the purchase price.

Vital Communities head of acquisitions and planning Rob Evans said the price of a home in Vital Bendigo was $150,000 lower than the median price in Bendigo.

“These savings enable residents to stay in the communities they love and, if they are eligible for the pension, they may also be able to take advantage of government rent assistance,” Mr Evans said.

“There is no Stamp Duty payable on a land lease home, and while they don’t own the land, residents still own their own home. Residents end-up with more money in retirement and for their future lifestyle,” he said.

Mr Evans said Vital Bendigo would help address local housing affordability and an increase demand for homes.  

Main image: A house at the Vital Bendigo lifestyle development

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Tags: accomodation, bendigo city council, lifestyle community, noticeboard, vital bendigo,

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