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New Noordhoek retirement development attracts significant interest

A major new residential development, the Evergreen Noordhoek Lifestyle Village, has attracted significant interest among retirees looking to move into retirement lifestyle accommodation.  At a recent launch event to prospective buyers on the Evergreen Lifestyle waiting list, well over half the units in the first phase of the construction project were reserved.


Aerial view of Evergreen Noordhoek Lifestyle Village
 
“The quick take-up of units we saw at this initial launch reflects the pressing need for more accommodation for the retired community,” comments Arthur Case, CEO of Evergreen Lifestyle.  “In addition, the enthusiasm we saw at the launch event confirms our expectation that this lifestyle village will be particularly attractive to the market. Set on a huge site of over 16 hectares, large enough to allow us to include plenty of private open space and walking trails, and with amazing views across the Atlantic Ocean towards Chapmans Peak, this lifestyle village has so much to offer prospective residents.”
 
The village, with its sophisticated security systems and fibre-to-home internet, will consist of 150 houses and 200 apartments, set on a sloping hillside site located near both Noordhoek and Fish Hoek. In addition to the housing units, a Lifestyle Centre is planned. The facilities included in this Centre will provide what any resident will need: a gym, a heated pool, a care centre offering primary healthcare services and frail care, and various recreational services.  An on-site bowling green and tennis court will also be available.  According to Case, “The location is perfect for the needs of residents, since all facilities will either be available on-site or close by in Fish Hoek, a well-established, sizeable town.”  
 
Being set in an increasingly popular residential part of Cape Town, which has seen property prices rise significantly in recent years, one may expect that the development is suitable only for the super-wealthy.  However, costs compare favourably with the average house prices for the area, which in 2015 reached almost R4 million, according to Lew Geffen Sotheby’s International Realty. “With a starting price for a life right of R2.1 million for a three-bedroom, two-bathroom, double-garage house, these properties will attract middle income-earners as well as wealthier people,” says Case. “And, since there are so many units in this complex, the benefits of scale mean that monthly levies should not be subject to major inflation.”
 
Case points out that the development is perfect for those in their late 50s.  “Looking towards one’s retirement, if you move into a village like this, you can live independently in what is essentially a secure residential estate with top-notch security and facilities available on your doorstep at no extra cost, enjoying the nearby beaches and mountains.  At a later stage, should you suffer age-related health issues, no other move is needed, since the lifestyle village offers medical and frail care services.”
 
Homes in the first phase of the development will be available to move into from the end of this year, with a further rollout following.  Case concludes: “There is bound to be great interest in this complex which will certainly help address the backlog in quality, affordable retirement living.”


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