Aveo : receives approval for Newmarket redevelopment

$150m redevelopment to reflect changing needs of seniors

Australia's leading owner, operator and manager of retirement communities, Aveo Group have received development approval from Brisbane City Council for the $150m Aveo Newmarket redevelopment.

The approved design includes 262 independent living units, to be constructed over seven proposed stages on a site area of more than two hectares.

The development will feature new community amenities such as a health and wellness centre providing medical and home care services, a residents' café and dining area, a swimming pool, a cinema and outdoor BBQ areas.

Aveo Group CEO Geoff Grady said, 'Aveo Newmarket is designed to meet the changing needs and expectations of senior Australians.

With modern amenities and increased levels of care, it will showcase Aveo's leadership and innovation in retirement living.'

The approved development plan encompasses four-storey buildings which step down to reduced building heights along neighbouring properties which are more consistent with residential building heights within the Newmarket community.

The southern and western boundaries of the site border Balun Park.

Construction work on the redevelopment is expected to begin in 2018.

It will take approximately 15 months to complete the first stage, comprising 51 independent apartments and a new community centre.

Aveo has offered to relocate current residents impacted by the initial stage of construction to other units within the community.

Mr Grady said, 'Respecting the health and happiness of our residents is at the heart of all we do and maintaining high standards at every community remains our top priority'.

The redevelopment follows an extensive process of consultation with residents at Aveo Newmarket. Aveo facilitated several rounds of workshops to understand residents' needs and expectations.

Mr Grady added, 'The plans have been welcomed by many residents at Aveo Newmarket. They recognise the positive impact the redevelopment will have, and they are looking forward to moving to contemporary apartment living with significantly upgraded amenities'.

Aveo Newmarket resident Margaret Grace Greer said, 'To me this redevelopment means progress and change for the better. I am excited about the plans that have been chosen and approved, because they are modern and feature easy accessibility.'