Australian Unity is celebrating its largest building milestone – the topping out of its 19th retirement community, The Grace Albert Park Lake, which is located adjacent from Melbourne’s most famous lake and surrounding parklands.
The hallmark development has had its highest structure – the top floor roof – constructed, and the building stands at its final height of 18 levels. Located in South Melbourne, the $120 million independent retirement community will comprise 79 one, two and three-bedroom residences, and one penthouse (three bedrooms plus study) located on the top level. Designed by Fender Katsalidis Architects and Mim Design, the building features first-class facilities and luxury interiors and exteriors that showcase its prime positioning.
Kevin McCoy, Chief Executive Officer for Independent and Assisted Living at Australian Unity, acknowledged the commitment of the entire team involved with delivering this latest development stage – from the construction and project management team, architects, interior designers and sales partners.
“This building milestone is a testament to the commitment of our project team who have worked diligently to ensure the development continues to progress on schedule,” he said.
Leonard Teplin, Director of Marshall White Living said that with Australia’s ageing population forecast expected to almost triple in the next four decades, we have noticed a strong market demand from retirees who are seeking a future home that offers low maintenance, luxury living in the inner-city.
“They want to maintain the lifestyle they had prior to retiring and enjoy things like going to the theatre and art galleries, visiting great restaurants, cafés and local parks, and still be in close proximity to public transport.”
“The Grace Albert Park Lake is setting a new precedent for retirement living. The vertical, independent living community will allow residents to enjoy their retirement years – with first-rate facilities and amenity in their homes and on their doorstep, matched with the convenience of a coveted inner-city location,” Mr Teplin commented.
The development is set to include state-of-the-art wellness and entertainment spaces, including a rooftop terrace with BBQ facilities and incredible lake views, a piano lounge and bar, a health and fitness centre, an indoor pool and a theatrette for an intimate cinema experience. The development is on track for completion by mid-2019.
More information on The Grace Albert Park Lake can be found here.