ADVICE Needed. Building over 60s units

[scarf]

Hi,
im in the process of doing viability figures on building and selling over 60s units on my empty section in northwest Christchurch.
I have no idea where to start

Can anybody please please help with any knowledge/ideas?

[Pim]

Any specific reason for building over 60s units as opposed to say, 2 brm units? You are limiting your market to people over 60 who want to live in your area. I am sure there are many more under 60s who'd like to live there. Do your research and find out the percentage of over 60s currently living in that area. If it is high you are on track. If low then find the majority age group for your area and target them.

[scarf]

The section i have is only 810 sqm, so i thought the only way to get multiple units on this size would be to put
over 60s on it?

[Wayne]

The section i have is only 810 sqm, so i thought the only way to get multiple units on this size would be to put over 60s on it?

really? Surprises me that they would have a rule like that. I gather those over 60 can be squashed together more. Maybe it doesn't matter as they are passed it anyway?

[Xav]

Under the Christchurch City Plan there is no minimum site area for elderly persons housing units with floor area of less than 80m2.

Scarf, assuming your section is zoned Living 1 (which I assume it is given it's in the NW of town) then you are correct that you won't be able to get multiple units on it (while still being a controlled activity) unless they are over 60's units, as the minimum lot area is 450m2.

Can't help you much beyond that sorry. You will need to get some plans drawn up by someone, you may be able to get it done for free by a building company in the same way as a house.

[flyernzl]

Is this age discrimination, or what?

[Wayne]

Is this age discrimination, or what?

obviously 'old' people are happy to be squashed together.

[speights boy]

obviously 'old' people are happy to be squashed together.

With the Ryman share price up 43% in 12 months, they are one of the most successful property developers in the country.
So yes, the demand is high and growing.

[Wayne]

I did wonder when 'over 60's' units were mentioned if we were talking the Retirement Village type approach. Not sure how this applies in the case in this thread - surely 2 or 4 properties don't make a 'village'?

[Xav]

No, it is very different to a retirement village. All that is required is that the each unit be 80m2 or under, all units be on one title or have individual unit titles under the Unit Titles Act, with the title(s) encumbered so the units can only be occupied by someone over the age of 60 or who qualifies for a permanent invalids benefit (plus spouse, partner, caregiver and/or dependents).

[Wayne]

facinating - learn something every day. Is this a Chch thing or apply everywhere?

[motivated]

Hi Scarf
I have just sent you a PM