The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
URBANITY-25 FIRST RELEASE TICKETS ON SALE LIMITED AVAILABILITY
URBANITY-25 FIRST RELEASE TICKETS ON SALE LIMITED AVAILABILITY
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
TransportStaff WriterMon 29 Jun 15

Retirees Rush To Purchase Ivanhoe Apartments

1



Local downsizers and retirees have been quick to purchase apartments in Kokoda Property's sold out development, Evergreen in Ivanhoe.

Evergreen has attracted a high 45 per cent owner-occupancy rate, combined with 40 per cent sales from the local vicinity, including a group of five semi-retired friends.

“Ivanhoe is a precinct with a limited supply of existing and new apartment dwellings,” Hayball Director Luc Baldi said.“The response of the sales from Evergreen indicates a strong desire for people wishing to downsize and stay within the community of Ivanhoe.”

The success of the three bedroom apartments in particular is indicative of the living preferences of older generations, with a large proportion of the owner-occupier purchasers aged over 60.

“The success of the three bedroom and larger two bedroom apartments indicate that this older generation are happy to embrace the convenience of apartment living as they age but without compromising on the existing lifestyle of the three bedroom plus home,” Mr Baldi said.

Originally planned to host 75 per cent one-bedroom apartments, Kokoda has responded to a strong market demand for larger apartment sizes in Ivanhoe. As a result, the final mix of apartments includes 49 per cent two and three bedroom apartments to better accommodate the desires of tenants and the area’s ageing population.

Research published by Urbis in 2013 shows 29 per cent of older singles over 60 live in medium and high-density private dwellings, reflecting the demand for quality developments at the right price.

This age group is already the largest cohort in Australia, and with numbers expected to grow by 1.5 million by the year 2026, this has significant implications for property and public policy.

“Quality apartment developments such as Evergreen are what’s required to cater for Australia’s rapidly growing ageing population, allowing residents to remain in their local neighbourhoods close to support systems,” said Sam Tucker at Kokoda.

Designed by award winning architecture firm Hayball, Evergreen's facade comprises a striking composition of stackable timber crates. A large, communal rooftop garden also delivers views to both the city and the Dandenong Ranges.

Evergreen is located in close proximity to Austin Hospital and public transport.




ResidentialAustraliaSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
QBCC project trust accounts hero
Exclusive

Developers Warned as Commission Cracks Down on Subbie Pay Scheme

Clare Burnett
7 Min
Urban Infill site at Tonsley SA
Exclusive

SA Grapples with ‘Development Killer’ Carparking Law Changes

Leon Della Bosca
7 Min
Exclusive

Brains, Guts and Determination: How Salvo Property Shapes Melbourne’s Skyline

Marisa Wikramanayake
5 Min
Fraser and Partners founder Callum Fraser
Exclusive

Saving Our CBDs: Architect’s Blueprint Paves Way for Office-to-Resi that Works

Leon Della Bosca
8 Min
View All >
Sponsored

Property Scholarship Offers Lifeline for Aspiring Women

Partner Content
TZ Architects' render of the StoreLocal self storage facility at 50 Railway Street, West Perth in Western Australia.
Industrial

StoreLocal Unpacks West Perth Self-Storage Scheme

Marisa Wikramanayake AND Renee McKeown
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
Construction costs normalising, loan conditions improving, overseas money returning. Perhaps the sector has turned the c…
LATEST
Development

Property Scholarship Offers Lifeline for Aspiring Women

Partner Content
3 Min
TZ Architects' render of the StoreLocal self storage facility at 50 Railway Street, West Perth in Western Australia.
Industrial

StoreLocal Unpacks West Perth Self-Storage Scheme

Marisa Wikramanayake AND Renee McKeown
2 Min
High-density residential construction in Melbourne
Exclusive

Stabilising Conditions in Melbourne Bring Hopes of Improved Feasibility

Leon Della Bosca
6 Min
The underpass site in Southbank that the City of Melbourne plans to turn into a community park.
Community

Melbourne Moves Ahead on Overpass-to-Park Plan

Marisa Wikramanayake
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/retirees-rush-purchase-ivanhoe-apartments