Summerset opens waterfront village
Summerset has opened its $5 million waterfront Katikati village.
Retirement village operator Summerset [NZX: SUM] has opened its $5 million waterfront Katikati village with an official function.
The village is situated on a waterfront site overlooking Tauranga Harbour and Matakana Island.
The building was opened by Summerset chief executive officer Julian Cook and Western Bay of Plenty deputy mayor Gwenda Merriman.
The village centre includes a spa, lounges, hair salon, bowling green and Divine Café, open to the public. Another $11 million of construction work is starting on a care centre and more amenities such as a swimming pool.
Stage one and two of the homes in the village have been completed.
When completed, the village will be home to 230 people in approximately 180 homes including villas, apartments and care apartments.
On completion, the village will also have a 49-bed care centre providing rest home and hospital-level care.
During construction it is estimated up to 300 jobs will be created and, when operational, it will support 30 jobs.
Demographers predict that the ageing population trend in the Western Bay of Plenty will result in one-third of the population being aged 65 or older by 2033. By 2063 that proportion is projected to reach 41%.
Summerset is on track to build 250 retirement units at multiple sites around the country this year, with 136 built in the first six months, plus 300 units planned for 2015.
Summerset recently marked the completion of its 2000th home – a villa at the Katikati village.
Chris Hutching for NBR NZ Property Investor
Thu, 04 Dec 2014
Thu, 04 Dec 2014
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Summerset opens waterfront village
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