Building 'the right sort of housing' key to boost downsizing

18/03/14
 

The ExtraCare Charitable Trust develops mixed tenure retirement villages for people who may or may not need care services. Within a typical village of 250 apartments, the proportions can vary, but depending on local needs we could have up to 80% of people buying their homes, either completely or on a shared ownership basis.

The rented homes can be let many times over and local authorities nominating their own tenants find this a great way to release family accommodation for those on their waiting lists.

Interestingly, owners also find villages aspirational places to move to, and are prepared to leave behind a large home in exchange for an apartment, yes, but more particularly for the range of facilities available there. These include a gym, bar, greenhouse, restaurant, craft room, village hall – all places where people can mix and share in activities.

Our latest village, in Bournville, is due to open in September 2015 and has 170 apartments for sale. At March 2014, over 130 applicants have already put down a deposit to mark their interest, showing that this village will sell quickly – as have all the others.

Building the right sort of housing, with great facilities, encourages people to downsize.

Nick Abbey, Chief Executive, ExtraCare Charitable Trust

 

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