$60m enviro boost for Canberra retirement village
A new seniors living village slated for Canberra will be given a $60 million environmentally friendly boost from the federal government’s green energy fund.
The Clean Energy Finance Corporation (CEFC) has struck a deal with LDK Healthcare, a joint venture between the listed Cromwell Property Group and senior living operator Aspire Group, to create the LDK Greenway Seniors’ Living Village. The village will repurpose the disused Canberra Office Park in Tuggeranong, south of the capital.
Greenhouse emissions from the 380-apartment site look to be half that produced by similar projects. Sustainability initiatives include improved insulation, double glazing on windows and more emphasis on high-efficiency heating and cooling. Energy-efficient lighting and smart controls will make the residences both practical and functional. The emissions savings for the village are expected to reach almost 30,000 tonnes over its life cycle.
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The village will also feature a range of self-contained community amenities including a corner store and cafe, 130-seat auditorium, meeting and learning spaces, community and private dining areas, gardens, a chapel and carpark.
CEFC chief executive Ian Learmonth says the expansion into the growing retirement living and aged-care sector will have the dual benefit of reducing emissions and allow older Australians to enjoy a healthy lifestyle.
He adds that the repurposing of the commercial office space was cost-effective and carbon-neutral.
“It’s also exciting to see the property sector recycling buildings, giving large-scale assets such as commercial office buildings a second life in an environmentally friendly manner,” Learmonth says.
The CEFC is responsible for investing $10 billion in clean energy projects on behalf of the federal government. The Senior Living Village is the latest addition to its $470 million residential portfolio, which includes student, community and build-to-rent housing.
The green energy fund has already backed projects to revitalise B- and C-grade commercial office buildings into modern, efficient towers.
The group has backed property managers including Dexus, Investa, Lendlease and Mirvac in commercial funds.
This article originally appeared on www.theaustralian.com.au/property.
