Childcare a critical element in masterplanned communities: Meriton
Lord Mayor Clover Moore recently called for more childcare places in Sydney, and it appears that the ‘childcare’ ingredient is increasingly becoming a focus for developers.
Australia’s largest residential apartment builder, Meriton, noted that they are currently building more childcare facilities than ever in their 50 year history, as it becomes increasingly important within their masterplanned communities.
Meriton’s national sales director, James Sialepis said that they include childcare facilities in every major project, unless there are site specific conditions.
“We’ve seen a high need for quality childcare from families moving into inner city areas,” said Sialepis.
Their upcoming developments in Ryde, Mascot, Lane Cove, Chatswood, Warriewood, Epping and Pagewood in Sydney all have onsite childcare facilities.
World Tower, an existing Meriton development, includes a 24-hour childcare centre.
The Lane Cove development, on 150 Epping Road, recently got the green light from the Planning Assessment Commission.
It also appears that childcare facilities themselves are becoming more attractive to commercial investors, with a childcare centre auctioned in December 2013 sparking a bidding war when it hit the market.
A centre in Melbourne’s Ringwood saw bidding begin at $2.5 million and, 30 bids later, it reached $3.145 million.