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Multigenerational living has been a growing trend in SA for economic and security reasons, but also because three, or even four generations living in close proximity promotes a healthy social balance.
Lifestyle estates are increasingly embracing young, old and everyone in between, in sectional title homes as well as rental apartments, comprising facilities that cater to children, working adults and those in their golden years, and providing convenience and security.
“Mixed-use developments are a relatively new phenomenon in SA, but globally they’ve been trending for many years,” says Amdec Property Developments’ MD Nicholas Stopforth. “It’s called new urbanism, and it’s today’s lifestyle of choice. The demand is high, because they also offer excellent investment opportunities,” says Stopforth.
Lifestyle estates such as Steyn City in Midrand, Sibaya Coastal Precinct in KwaZulu-Natal and Val de Vie in the Western Cape have all gone this route, offering an enviable lifestyle replete with nearby schools, shops, medical or care facilities, and every manner of sport or leisure activity.
And as they evolve, these multigenerational estates are embracing more investment brackets, offering a mix of apartments, townhouses and freestanding units of one to ﬁve bedrooms, priced anywhere from about R1m to R20m and beyond.
Steyn City is a prime example of a multigenerational estate, with its huge diversity of owners and tenants and range of properties priced from about R2,2m to more than R25m. Its “city centre” will include about 739 apartments and a central piazza with retail, restaurants and lifestyle offerings.
“The apartments and shops will be wheelchair-friendly and children have the option to attend Steyn City School,” says Marie Yossava, spokesperson, Steyn City.
“There are several play and recreational nodes within the parkland residence, including a skate park for teens. There are also office blocks in our commercial park.”
Many estates include separate retirement villages within the development. A good example is Century Property Developments’ Waterfall Estates between Kyalami and Sandton in Midrand, embracing Waterfall Hills and Waterfall Valley mature lifestyle estates.
Aside from the myriad of facilities expected of a top lifestyle estate – sport, walking trails, gym, pool, coffee shop, restaurant, movie theatre, hairdresser and health spa – retirees and the elderly have access to onsite nursing staff that can provide assisted-living services and a frail care facility at Waterfall Hills Mature Lifestyle Estate.
“The choice of houses, cluster homes, apartments and retirement homes as either rental or investment opportunities means you’re accommodated in every life stage from young adult, to having a family, then grandchildren, to downscaling to a lock-up-and-go,” says Jessica Hofmeyr, Century Property Developments executive for sales, rental, marketing and operations.
The prestigious Val de Vie estate near Paarl in the Cape winelands has also embraced retirees more fully with Val de Vie Evergreen. It’s aimed at over 60s with the offer of 400 exclusive homes, 208 apartments and an 80-bed frail care facility. “Our resident demographics are evenly split between those commuting, those working from home, and retired couples. The buyers are discerning and want excellent investments in the long term,” says Val de Vie’s group marketing director Ryk Neethling.
Nearer Cape Town is De Plattekloof Lifestyle Estate, aimed at over 50s, which includes homes, apartments and the Tijgerzicht assisted-living suites.
Century City near Canal Walk is another sought-after multigenerational estate, offering contemporary penthouses, family homes and spacious apartments. Buh-Rein Estate near Durbanville is attracting first-time buyers to its townhouses and apartments, as well as retirees who have a choice of independent-living and assisted-living apartments.
The mixed-use, multigenerational estate has come to Port Elizabeth in Amdec’s Westbrook Estate. The development will comprise 3,500 homes spread across nine residential villages with a “town square” and a variety of commercial and retail space.
“Mixed-use developments are a relatively new phenomenon in SA, but globally they’ve been trending for many years” NICHOLAS STOPFORTH, MD, AMDEC PROPERTY DEVELOPMENTS
“We cater to everyone – from first-time buyers and small families, to empty nesters who don’t yet want to move into a retirement village,” says Westbrook MD Clifford Oosthuizen. You can get cheaper houses in the city, but your investment value simply won’t increase as fast or by as much.
In East London, Kidds Beach Green Estate comprises six estates with homes ranging in price from R700,000 to R10m. The estate caters to growing families, investors and luxury buyers. Amenities include private schools, a shopping centre, office parks, a private hospital, a high-performance sports centre and a hotel and conference centre. An assisted-living section offering 200 retirement rental units based on the life rights model is planned.
“We cater to everyone – from first-time buyers and small families, to empty nesters who don’t yet want to move into a retirement village” CLIFFORD OOSTHUIZEN, MD, WESTBROOK
The KwaZulu-Natal northern seaboard is dotted with multigenerational estates. Sibaya Coastal Precinct in Umhlanga includes Shoreline Sibaya, which consists of 400 modern single-level sectional title apartments for over 55s in a wheelchair-friendly environment.
“Research from the Retire KZN campaign indicates that approximately 43% of retirees now look for a property price point of between R1m and R2,5m. The studio apartments at Shoreline Sibaya start at R1,4m while one-bedroom apartments begin at R1,9m,” says Louise Hunt, spokesperson for Sibaya Coastal Precinct.
“Because of the increasing interest in retirement property as an investment opportunity, the developers have permitted buyers as young as 20, although occupation only occurs once the homeowner turns 55,” says Hunt.
Kindlewood Estate in Mount Edgecombe attracts a full range of investors, from first-time buyers looking to establish their roots through to retired couples seeking an active, outdoor lifestyle. “Kindlewood has homes and facilities suited to every phase of life,” says Mondli Msani, development manager, Tongaat Hulett Developments.
Kindlewood developments include Norfolk Valley, The Links, Kindlewood Crest, The Kindles, Kariwood, Edenwood, The Wolds and the newly launched Mount Edgecombe Retirement Village.
Zimbali Lakes Resort north of Ballito extended its cross-generational appeal as Evergreen Lifestyle launched a R3bn retirement offering last year. Evergreen Lifestyle Zimbali Lakes includes apartments to be sold on a life rights basis and an array of luxury lifestyle amenities is in the pipeline. Close by is Brettenwood Coastal Estate, with its retirement offering of Forest Village.
Further north, Palm Lakes Family Estate, a development with a full suite of facilities, includes the Lakes Retirement Village, which tailor-makes a retirement home package to suit individual needs. These range from full title homes to sectional title. The development includes a healthcare centre.