Planned retirement villages will bring 320 jobs, $45m boost to Hawke's Bay, research shows

Retirement Villages Association executive officer John Collyns in Hastings. Photo / File

With four new retirement villages in various stages of planning, new research suggests Hawke's Bay can expect a $45 million economic boost and more than 300 new jobs, if they all pan out.

Research carried out by PwC and commissioned by the Retirement Villages Association found the construction of a 250-unit village directly supported 303 full-time equivalent jobs and contributed about $21.4m in design, construction and fittings.

"In the Hawke's Bay, there are four villages in development (that we know of) totalling close to 550 independent living units and care beds," RVA executive director John Collyns said.

"This suggests that there's going to be a direct injection of around $45m into their design and construction, and an additional 320 jobs in the villages' operation contribution to the local economy."

The PwC research found each retirement village provided employment for 44 engineers and other technical and business professionals, 320 builders and tradies, 15 civil works labourers and another 14 people involved in supply and outfitting.

The report said the economic contributions equated to $4.8m in engineering, quantity surveying and architecture, $13.9m in building and construction, $1.8m in civil and ground works, and $900,000 in furniture and fittings.

Collyns added that although land was in short supply in Hawke's Bay, retirement villages were efficient land users.

"There is no doubt that the boom in retirement village development not only adds significantly to the local economy via investment and employment, but it also has valuable social benefits, through releasing homes back into the market for new families to enjoy and offering a range of services looked for by our residents.

"We look forward to continuing to develop villages in the Hawke's Bay region."

Not including ongoing plans for new villages, the PwC report stated there were 1308 retirements village units and apartments in Hawke's Bay, accounting for 4 per cent of the nation's stock.

That equated to 10 people aged 75 or over for each Hawke's Bay unit.

At present, major retirement village developers Summerset, Ryman Healthcare and BUPA, all have plans to build retirement villages across Hawke's Bay.

Later this month a Napier District Council resource consents hearing will decide if BUPA will get the go-ahead for a 5795sq m village and complex on Ulyatt Rd in Napier.