Description
This high quality and architecturally designed housing resort provided a model for affordable independent retirement homes set in a masterplan estate. This was achieved through an innovative housing tenure model that removed the land component cost through the provision of a long-term lease of the land, thus making the housing entry price very affordable.
The model allows low- to medium income retirees to sell their rural block or family home, buy a new house in the Resort and put the surplus in the bank to finance their future retirement. Moreover, because the development will not require the subdivision of land, Costa Property Group will retain ownership and management of the entire site, allowing it to undertake a greater level of sustainable development than in a conventional subdivision comprising multiple ownerships.
The proposed dwellings will follow a contemporary theme and will be architecturally designed to a high standard, modelled on “Rural Tropical Homes” and constructed to the relevant cyclone and quality standards. Costa Property Group will act as the developer to produce 99-year leasehold lots as part of a masterplanned lifestyle accommodation resort. The Statutory Planning process will contemplate a Special Use (SP) zoning based on Zone MD (Multiple Dwelling Residential) under the NT Planning Scheme to produce lots ranging from 200m2 to circa 300m2 constructed and sold in sub-stages. The resort will be managed by an Estate Manager as part of a fully Gated Community under the Northern Territory Retirement Villages Act.
The model allows low- to medium income retirees to sell their rural block or family home, buy a new house in the Resort and put the surplus in the bank to finance their future retirement. Moreover, because the development will not require the subdivision of land, Costa Property Group will retain ownership and management of the entire site, allowing it to undertake a greater level of sustainable development than in a conventional subdivision comprising multiple ownerships.
The proposed dwellings will follow a contemporary theme and will be architecturally designed to a high standard, modelled on “Rural Tropical Homes” and constructed to the relevant cyclone and quality standards. Costa Property Group will act as the developer to produce 99-year leasehold lots as part of a masterplanned lifestyle accommodation resort. The Statutory Planning process will contemplate a Special Use (SP) zoning based on Zone MD (Multiple Dwelling Residential) under the NT Planning Scheme to produce lots ranging from 200m2 to circa 300m2 constructed and sold in sub-stages. The resort will be managed by an Estate Manager as part of a fully Gated Community under the Northern Territory Retirement Villages Act.
Details
Project
Collalinga Rural Lifestyle Accommodation Village
Principal
Costa Property Group
Contractor
Rossi Design
Role
Procurement management and due diligence
Our role
Louw Group undertook the due diligence, project feasibility modelling, stakeholder engagement and consultant management activities to deliver a comprehensive project tender to the NT Government as part of the Proposal for the Darwin Rural Seniors’ Lifestyle Accommodation request for detailed proposal process.
Services included
The project services were completed over a six month period and included establishment of a brand new home delivery model that has never been seen in the Northern Territory before.