A $1.7 billion retirement village providing up to 2500 units will transform the Springfield region's health precinct.
Leading owner, operator and manager of retirement communities, Aveo Group, has been appointed as the exclusive developer of the seniors units and other health and integrated facilities at "Health City", Springfield Central.
The development, Aveo Springfield, was announced to the market yesterday, billed as a new concept for retirement living in Australia.
Aveo Chief Executive Officer Geoff Grady said the project would be developed over the next 15 years.
With 2500 units and associated facilities, the entire development is estimated to inject $1.7 billion investment into the region over the life of the project.
"This type of innovation in seniors living and aged care in Australia is a very exciting concept and a function of our strategy to be Australia's leading pure retirement group," Mr Grady said.
Aveo Group has 75 retirement villages and four aged care facilities across Australia and has been developing, operating and managing retirement villages for more than 20 years.
At the company's half year results in February 2015, Aveo outlined a development pipeline of 2835 new retirement village units.
The Aveo Springfield development will add significantly to this pipeline by delivering up to 2500 additional retirement village units over the next 15 years.
Springfield Land Corporation managing director Raynuha Sinnathamby said catering for the ageing population was always a part of their master plan vision.
"Springfield Land Corporation is delighted to have Aveo with its expertise in this area, its progressive thinking and its dedication to seniors living in greater Springfield," she said.
"Catering for such a large population of seniors in respect to the ageing population of Australia has always been a significant part of the master plan.
"It is that master plan that continues to distinguish greater
Springfield from anywhere else in Australia."
Ipswich Planning and Development Committee chairman Paul Tully said the development was in accord with the master plan for the Springfield region.
"This is one of the most exciting developments in the Ipswich area for many years," Cr Tully said. "It will fill a major gap, particularly in the eastern suburbs of Ipswich.
Cr Tully said close to 40% of Ipswich's population was now located in the city's eastern suburbs.
"That will continue to grow. Even though the average age in Ipswich is dropping, the number of older people is increasing and we need to acknowledge that and plan for the future.
"This is going to be great for all of Ipswich, providing a major facility like this close to the Orion city centre, good road links to Brisbane and Ipswich CBD, close to the railway station and almost adjacent to the Mater Hospital."
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