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QUEENSTOWN RETIREMENT VILLAGE BOOM

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May, 2019

A retirement village boom is set to pour tens of millions of dollars into
the Wakatipu and wider Central Otago area.
Two new villages, Remarkables Park and Leaning Rock, north of
Alexandra, will create 167 units between them.
Theyll add to the existing nine retirement villages in the
Queenstown/Wanaka/Alexandra area, five of which have another 740
units either planned or in development.
The new and planned units will cater for 1200 residents, and invest a
combined $79 million in construction, Retirement Village Association
boss John Collyns says.
Research commissioned by the association last year found every 250
units directly supported about 303 staff, and contributed about $21.4
million to the economy.
Collyns says the Queenstown areas been bypassed by major operators in
the past, but thats starting to change.
A lot of people from the rest of New Zealand holiday down here and
have a fabulous time, and they see it as a great place to retire, he
says.
Theres a strong market with people from Auckland and other metro
areas to come down here.
Theres also an increasing number of farmers who are getting to the age
where theyre selling the family farm, have several million dollars in the
bank, and are looking for somewhere quite classy to retire to, he
says.
While theres been significant pushback against housing developments in
the Wakatipu recently, Collyns tells says retirement villages come with a
big benefit.
We know Queenstown is desperately short of housing of any sort.
When people move into retirement villages, that releases family homes
back into the market.
Remarkables Park developer Alastair Porter says the multi-storey
retirement village will be staged as required to meet demand, across
three or four five-storey apartment buildings with central community
facilities.
This facility will be able to offer a warm, sunny location with
spectacular views of The Remarkables, and minimal need for a car with
only a very short walk to the adjacent Remarkables Park Town Centre,
medical facilities, the Queenstown trails and a planned jet ferry
providing a connection to Queenstown Bay.
Arrowtown Lifestyle Retirement Village, when complete, will host 120
two- and three-bedroom villas, 75 apartments and a 100-bed care
centre offering rest home, hospital and specialist dementia care.
Meanwhile, work is continuing on Queenstown Country Club, on Ladies
Mile.
According to an update on its website, as of March, ground works were
underway on a new village retail precinct which will include a medical
centre, childcare centre, pharmacy and cafe.
Following that, work will start on a new care facility which will include
rest home, hospital and dementia beds.

Source: Mountain Scene/ODT