Opal, in Vancouver, BC, is a new concept in senior communities combining multigenerational condominiums, rentals and licensed complex care.
Here are a few extracts from the article:
A Vancouver seniors’ community is giving new meaning to the outdated concept of old folks homes while stopping real estate speculators in their tracks.
Instead of just offering rentals or condos as is common throughout the industry, Opal is operating with a hybrid model in which both condos and rentals are being offered. It will have 44 residential condominium units, 56 rental units and 30 complex-care units.
Element has also taken steps to avoid the empty-condo syndrome that is prevalent in Vancouver. Investors and speculators are blocked from buying at Opal.
Opal, a 130-unit project that is set to open in early 2019, provides an “aging in place” concept that allows older adults to go from independent to assisted living to licensed complex care as needed, all in a single place. In addition, the development will have an intergenerational living approach in which family members from different generations can live together. One occupant per unit must be 55 or older.
Instead of an industry average resident age of 87 plus, 30 per cent of Opal buyers or renters are in their 50s, 34 per cent are in their 60s and 30 per cent are in their 70s, with the balance split between older seniors and younger grandchildren intending to reside on short-term stays.
The program includes instructor-led exercise, music and experiential culinary programs such as wine tastings and pizza making from scratch. Facilitated childhood educators’ programs will bring together seniors and children so that seniors can pass on life stories and experiences and teach traditional skills, while their children can pass on their expertise on topics like social media. There are also recreational group outings and private transportation service for personal appointments.