It was my absolute pleasure recently to meet with Chris Johnson, CEO ofUrban Taskforce Australia, to discuss the issues surrounding Apartment Living For Seniors.
Chris Johnson is the CEO of Urban Taskforce Australia, an organisation
that represents property developers and financiers. He was previously NSW
Government Architect for 10 years and Executive Director in Planning NSW for four
years. He has written or edited a dozen books on urban planning and has been
Adjunct Professor at three universities.
The Urban Taskforce has many members who develop apartment buildings and
some who develop retirement villages and residential aged care facilities. A
number of members are seeing a new market with older Australians interested in
living where there is some lively activity and amenities nearby. This has led
to developments in Sydney such as Breakfast Point and Jacksons Landing.
Following our discussion, Chris agreed to contribute a guest article to
the Property Focus in Sydney blog. Here is his assessment of the advantages of apartment
living for seniors.
Introducing
Chris Johnson AM
Australian cities are going through a physical change that is balancing
suburban living with urban living. One of the demographic groups driving this
migration from suburban houses to urban apartments is the retiring baby boomers
as they reach retirement age. Rather than mowing the lawn, large numbers of
seniors are preferring to downsize to a smaller but more urban household where
coffee shops, public transport, cinemas and community amenities are close at
hand.
Our older citizens are more well off, more active and more independent
than previous generations of retirees. Ninety years ago, the over 55s
represented 10% of our population. They now represent 25% of a much larger
population, and this is likely to lift to 40% of Australia’s population by the
end of the century.
Translated to population numbers, this means we currently have in
Australia six million people over 55 and by the end of the century this will
have grown to 16 million older people. Even with retirement age moving to 65
and on to 70, the number of older, healthy, active people will be growing. The
increasing advances in health care are making our seniors avoid moving into residential
aged care for as long as they can.
These changes to our demographics are a real challenge to those who provide
housing, including the property industry. While the more traditional residential
aged care facilities will still be necessary for those living into their
nineties, a new market is emerging of older people downsizing from large houses
to apartments, often located in the same suburb but closer to amenities.
There will be many types of solutions ranging from apartments on top of
supermarkets, as in Top Ryde and Balgowlah, to new apartments
built near railway stations, to subdivided houses, or beach side townhouses for
sea change seniors. The difficulty with supplying this market is that many
older Australians want to mix with younger people and don’t want to be type
cast as being old. They want great places to live that happen to suit their
age.
Good examples in Sydney are Breakfast Point, where buildings range from
terrace houses to nine-storey apartments. Communal facilities, all located
within walking distance, include an $11 million club house, a 1.5 km foreshore
walk, village shops with outdoor eating, a village green and a community hall.
Another example is the Top Ryde development over a major shopping centre with
views to the city. Amenities include a library, club rooms, swimming centre and
extensive gardens, and of course a vast array of shops right below the
development. Jacksons Landing, with taller towers, has also become a location
where seniors have down-sized with views over the harbour. Here there is a
health, and wellbeing centre and a physic centre as well cafes and restaurants.
An emerging trend is to co-locate apartments with independent living
units and an aged care facility. This allows a progression from full
independence, where seniors cook their own meals, to having food delivered and
then into a full care mode. Even these facilities can be located in high rise
buildings with excellent lift services. As our population ages there will be a
need for many models for housing this older demographic. The value of the
apartment model is that it keeps seniors out of more expensive care facilities
while they are in good health. Indeed the very nature of apartment living,
where movement to local amenities is convenient, keeps seniors mentally and
physically active. The property industry will continue to innovate in the
buildings it produces to suit the increasing number of older Australians.
What Are
Your Thoughts?
Would a development such as those described by Chris suit your needs
when you are considering downsizing? Are there other features you would like to
see developers include in these developments? Do we need stronger leadership at
both local, and state government levels to ensure adequate and suitable accommodation
is available to suit an aging population? Please join the discussion and let
Chris and the team at Urban Taskforce Australia know your thoughts!
By Linda Coskerie: Seniors Real
Estate Specialist
