South Waikato's largest new residential development ready for 200-home second stage
Last week, the South Waikato District Council announced the project's $120m second stage would consist of 200 senior living homes.
South Waikato District Mayor Gary Petley said Overdale Estate was an opportunity for South Waikato to 'stand out' as a long-term option for retirees.
'We're excited to work alongside developers to support high-quality, affordable retirement living that brings people to our district.'
According to a council statement, the retirement homes would include a mix of lifestyle and retirement villas, alongside onsite care services.
'The development is designed to adopt multi-generational living, with families able to remain in one neighbourhood from first home through to retirement,' the council said.
Overdale Estate's development is being overseen by Ultimate Global Group, a New Zealand-based international conglomerate specialising in the development of sites in New Zealand and Asia.
Ultimate Global Group chief operating officer Lloyd Cloughley said the retirement stage of the development would inject $120m into the local economy through construction and services.
'Once complete, ongoing contributions from residents, employees and visitors will provide even greater benefit for the region,' Cloughley said.
'We're proud to be delivering more than just homes, we're building a community that meets the needs of retirees and drives long-term economic growth for South Waikato.'
Overdale Estate's first stage was originally scheduled to deliver 22 homes.
When ground broke on construction, seven of the houses had already been purchased by families and investors.
At the time, Cloughley said an Overdale Estate 'entry-level house', built to stand alone on a 600 square-metre section was priced at $715,000.
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