Operator now set to develop new retirement community concept
LOS ANGELES: A long standing retirement village operator has set about developing a new retiree community concept.
Retirement Villages Group (RVG) has now revealed the concept for its proposed collection of Integrated Retirement Communities.
The brand – Thrive Living – has been designed to regenerate local communities and town centres across the UK for the benefit of all who live there, while providing an “attractive lifestyle choice” for older people.
The first Thrive Living community will be called Botanical Place and comprise 198 apartments. It is under construction in the heart of West Byfleet in Surrey.
Meanwhile, building work has already begun at a second location in Boughton Heath, Chester, which will have 155 apartments.
Planning consent was recently granted for a third site at Tunbridge Wells, while an application process at West Malling is in its final stages. Both sites are scheduled to begin construction works within the next year.
The fifth proposed Thrive Living community is in Chigwell, Essex – negotiations to acquire the site were recently concluded and the process of pursuing approval has begun.
RVG plans to invest in the development of 40 Thrive Living IRCs across the UK within the next decade, creating 5,000 homes with an end value of £2bn.
Will Bax, chief executive of Retirement Villages Group, said: “Today marks a huge day for Retirement Villages Group and an exciting moment for the sector.
“We’re incredibly excited for Thrive Living and the positive change it can help drive in terms of addressing the national housing supply shortage and supporting town centre regeneration. Most importantly, our goal is to roll out the Thrive Living philosophy at a scale.
“Putting older people back at the heart of our communities and helping them to live amazing, purposeful, active lives for longer.”