GFC blamed for village delay

The Global Financial Crisis has been blamed for delays in construction of a proposed seniors living development on the corner of Veron Rd and Hillview St in Umina.

Leasurement operations manager Mr Heath Anderson said construction of the Everglades Retirement Gardens site was expected to commence around April.

The development was previously expected to be completed early this year.

"As a result of events from the Global Financial Crisis, we felt it prudent to defer construction until we were confident the overall market had stabilised," Mr Anderson said.

"It is very important to us that our residents are comfortable with their financial position in making such an important decision.

"Since November 2009, we have received very positive feedback from residents who have secured a unit which has continued through to now.

"We currently have 11 deposits with a significant number of enquiries still in process.

"The numbers clearly indicate to Leasurement that residents are keen and ready for this development to commence.

"We are conscious that a decision to move into retirement is stressful and Leasurement is fully aware of what the residents are going through."

Mr Anderson said residents will be able to move into their new homes 12 months after the beginning of construction.

He said interest from potential buyers had significantly exceeded the company's expectations.

"Residents are telling us that with nothing else on the Peninsula and surrounding areas of this type.

"There is a great demand from the residents of the Central Coast and the Upper North Shore of Sydney," Mr Anderson said.

"We have been conducting seminars to bowling clubs and free information days all over the Central Coast," Mr Anderson said.

"We have also sponsored the Central Coast District Women's Bowling Association which has enabled Leasurement to introduce itself to the local community and the Central Coast."

Clare Graham, 16 Feb 2010 Interviewee: Heath Anderson, Leasurement