Eldercare is embarking on exciting development projects at two of its aged care sites in 2014, which will invigorate and improve the facilities for Eldercare residents.
UC Invest were pleased to support Eldercare with an $11 million dollar loan contributing towards $41 million dollars worth of projects. The aim of these projects is to expand existing facilities with extensions that will accommodate more residents.
At The Lodge at Wayville, $5 million has been used to purchase the land (on which the residential care facility and former head office buildings are located) from the Uniting Church. This purchase will enable the site to be further developed with the Eldercare residents needs in mind.
The Lodge development will be a blend of the old and new, incorporating the heritage building; formerly the Parkin Wesley Theological College and a newly developed wing with 26 additional residential care beds. This will increase the number of beds at The Lodge to 127. Some renovation of the existing buildings will also be undertaken as part of this project.
The further $6 million of the loan from UC Invest will go toward a $24 million dollar development at the Allambi site at Glengowrie. Allambi, Eldercares largest facility, will increase its capacity by a further 106 beds by building on adjoining vacant land. Building work is set to commence in late 2014 with construction expected to take 18 months to complete.
Scott Morgan, Eldercare Corporate Services Executive said: Its an exciting time for Eldercare. The developments will take place at two of our key sites and residents will enjoy large, modern, single rooms which have been designed to ensure a high standard of care is provided in a home-like environment.
UC Invest are also pleased that the loan to Eldercare will benefit elderly residents as well as UC Investors. Paul Barnett, Manager explains: It truly is a win-win for many in the Uniting Church community, whether you are a resident, an investor or an employee at Eldercare; the upgrade and renovations will be a great investment, right across the board.
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