Developers are now anticipating that construction work will soon commence and envisage the completion of one batch of five units every 18 to 20 weeks. This major accomplishment is partly a result of the rigorous accompanying process of securing consent use approval.
This type of approval pertains specifically to the development of retirement villages and regulates the construction, management and layout of features unique to retirement villages, including health care centres, clubhouses, layouts and systems whereby units are sold by sectional title.
"We've been through an exhaustive process with the greater Schonenberg Estate Planning Committee and the Council to achieve an overall development plan that adheres to all the correct legal and structural requirements whilst maintaining the retirement village's own character and contributing to the overarching value of the Schonenberg Estate," explains David Welsh, development director of Schonenberg Retirement Village.
The concept behind Schonenberg Retirement Village directly responds to the rapidly increasing trend of retirees to opt for a retirement living set-up.
"Waiting lists for existing retirement villages can be up to two hundred names long and can lead to as much as ten years of waiting or longer. Re-sale values of retirement village units are reaching record highs, with some Western Cape villages reporting up to a 32% return on investment for some of their units," explains Russell Masters, project coordinator of Schonenberg Retirement Village.
"Retirement is now more than ever being considered a major investment in terms of lifestyle and finances alike and retirement villages are offering some of the safest and most beneficial investment options.
"Developments should be built and managed according to the Retirement Act, in order to fully protect the investment."
Masters says the inherited and accepted model of retirement has undergone some change since the 1960's. A number of socio-economic factors have driven these changes, with the perception of retirement evolving from a routine-based, isolated and demarcated lifestyle, to a more dynamic, active and socially involved phase of living.
Retirement is no longer bound by its original definition of giving up work with many individuals choosing to remain economically active. Testament to this change in definition is the ever-decreasing average age of those securing retirement homes.
"We've put together a sales and development team for Schonenberg, the members of which have collectively worked on more than twelve retirement villages countrywide. Our experience has allowed us to design a village that truly addresses every concern and need of a retiree, using proven methods whilst responding to these new trends," says Welsh.
Schonenberg Retirement Village is situated on the greater 66 hectare Schonenberg Estate in Somerset West. The Village will consist of 142 two and three-bedroom houses, 48 one and two- bedroom apartments and a 30-bed healthcare and assisted living facility as well as a well-appointed social clubhouse.
The location offers purchasers access to the facilities of the greater Schonenberg Estate including a 5,5km secure walking path, state of the art security, landscaping and access to a greater community structure. The Village also offers easy access to nearby shopping centre Waterstone Village, major highways, the Cape Town International Airport, beaches, golf estates and nearby nature reserves and wetlands.
For more information contact 021 852 0821 or send an email.
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