Town bank proposes retirement village

– Paul Pickering
THE Upwey and District Community Bank Group has revealed its plan to establish a community-owned retirement village in Upwey.
Group chairman and Upwey community stalwart Peter Marke said last week that a committee had been formed to guide preliminary discussions on the project.
Mr Marke said that the proposed development was a response to a perceived demand for a smaller aged care facility in the hills.
“It’s well known that people like to spend their retirement days where they’ve lived but there are limited opportunities for that in the foothills,” he said.
It is intended that the bank group would recover its initial outlay of $1 million as the facility reaches a profitable position, before deciding whether to reinvest back into the development or fund other community projects.
While the project is very much in its infancy, the committee has had discussions with both the Shire of Yarra Ranges and Knox City Council.
Mr Marke said that while the $1 million would kick start the project, it would be unlikely to be realised without the support of local, state and federal governments.
He said the committee is currently preparing a case for Planning Minister John Madden to determine the State Government’s view on a shortlist of possible sites.