This article is from the Australian Property Journal archive
THE City of Sydney is looking to redevelop a council car park in Redfern, with visions of a not-for-profit aged care facility in its place.
The city is calling for expressions of interest for a registered organisation to design, build and operate to a facility that would accommodate at least 50 older people at 49 Cope Street.
“There is a desperate need for culturally appropriate aged care in inner Sydney. We’re selling this site for a token $1 to a community housing provider on the condition it delivers aged care in perpetuity, and a 55-space community car park under the development,” said Clover Moore, Lord Mayor of Sydney.
“This makes the affordable and diverse housing project viable, while locals will continue to have space to park their cars.”
The project will also be delivered by or in partnership with local Aboriginal and Torres Strait Islander organisations or providers.
“We’ve heard what Redfern residents want and will make sure Aboriginal organisations and communities are at the centre of the delivery and operation of this new project,” added Moore.
The city will also transfer 240sqm of existing space on Cope Street to Wyanga Aboriginal Aged Care to keep as an outdoor area.
The City of Sydney is targeting and on track to deliver 5,237 affordable and diverse dwellings built by 2036, through a combination of developer levies, discounted land sales, grants via the affordable and diverse housing fund and planning agreements.
Meanwhile the private aged care market continues to draw in investors, with $70 million worth of sales and leasing agreements have been struck in the aged care in Melbourne and NSW recently.
While Adrian Puljich recently launched the first over-50s community in his $500 million Aliria portfolio, which will be spread across a 2.5-hectare site in Rockhampton. With Stockland’s latest Halcyon community nearing sell-out status, as the offering quickly spreads across the country.
