Providence Lifestyle Yarrawonga features communal facilities including a clubhouse, alfresco area and a bowling green.
A unique ‘build-to-rent’ boutique over 50s lifestyle community will start construction in Yarrawonga in 2022.
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Demand for new property solutions driven by housing affordability and rental crisis has paved the way for this lifestyle community, which is set to be built in Woodlands along Hogan’s Road, only a short stroll from beautiful Lake Mulwala.
Development approval has already been granted for this long-term lifestyle rental community and the interest has already been strong according to Providence Yarrawonga Director Dean Cook.
Developed and managed by Providence Lifestyle Yarrawonga, residents will be able to lease one, two or three-bedroom homes in a secure, gated community for between 10 and 19 years, with no entry or exit fees or quarterly rent inspections and no market reviews for the term of the lease.
Mr Cook said the concept addressed a gap in the market and would give seniors struggling with housing affordability, security or rental issues a fresh option.
“Many over 50s don’t want to tie up their money in property, or it doesn’t suit their financial position,” Mr Cook said.
“And many are reticent to rent short-term because it doesn’t offer them enough security and certainty and moving house every 12 months is harder when you’re over 50,” he added.
“Build-to-rent boutique lifestyle communities address these issues and operate in just the same way as renting a private home so, in time, they will play a part in easing the rental crisis for seniors.”
Residents have access to communal facilities including a clubhouse, alfresco area, and bowling green, and pets are allowed as each 6-star energy rated home is on its own fenced lot with a private garden and entertaining area.
Each home is on its own fenced lot with a private garden and entertaining area and the broader community design encourages healthy, active living. The homes are architecturally designed and constructed in Victoria by Fleetwood.
Mr Cook said the project was attracting a high level of interest from ‘downsizers’, ‘rightsizers’ and retirees who want to move from the city.
Providence Lifestyle Yarrawonga is a new long-term lifestyle rental community which is expected to start construction early in 2022.
“We believe these build-to-rent boutique lifestyle communities are the way of the future and predict they’ll become commonplace, just as build-to-buy lifestyle villages have,” he said.
“The tenure security, facilities and companionship on offer caters to a growing but underserviced demographic.
“We’re also finding the pandemic has prompted many people to place a greater emphasis on safe social connection, further boosting demand for community living spaced in the right way and detached housing brings a more spacious resort feel than high-rise apartments.”
Residents have a typical leasing arrangement with a four-week bond and weekly rents start from $309* and there are no rates or taxes. Long-term leases of between 10 and 19 years are available. There are no mandatory capital improvement levies.
Providence Rental Lifestyle Community Yarrawonga is expected to start construction early next year.
By popular demand, Providence Yarrawonga have added three new seminars for January 29, February 26 and March 19 at 10.00am for a 10.30am start at The Sebel Yarrawonga, Silverwoods.
Head to yarrawonga.providencelifestyle.com.au for further details or contact Karen Van der Steeg, Yarrawonga Lifestyle Coordinator on 0475 755 981.
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