Malaysian Healthy Ageing Society The Retirement Lifestyle Industry - - PowerPoint PPT Presentation

Organised by:

Malaysian Healthy Ageing Society

Co-Sponsored:

Malaysian Healthy Ageing Society 1st World Congress On Healthy Ageing

Evolution: Holistic ageing in an age of change

The Retirement Lifestyle Industry

Agents of Change

Today's Presentation

• Aged care vs retirement living.
• Influences on retirement lifestyle.
• Retirement lifestyle spectrum.
• Designs fit for retirement.

Today's Presentation

• Aged care vs retirement living.
• Influences on retirement lifestyle.
• Retirement lifestyle spectrum.
• Designs fit for retirement.

Differences between aged care and retirement living; their service deliveries and operational models.

Today's Presentation

• Aged care vs retirement living.
• Influences on retirement lifestyle.
• Retirement lifestyle spectrum.
• Designs fit for retirement.

Social influences, urban landscapes and Government policies affecting retirement lifestyle spectrum and choices.

Today's Presentation

• Aged care vs retirement living.
• Influences on retirement lifestyle.
• Retirement lifestyle spectrum.
• Designs fit for retirement.

Selected examples of retirement lifestyles in The Netherlands, Britain, USA, China (including Hong Kong) and Australia.

Today's Presentation

• Aged care vs retirement living.
• Influences on retirement lifestyle.
• Retirement lifestyle spectrum.
• Designs fit for retirement.

Designing lifestyle products for the retirement markets; beginning with market research through to financial as well as operational modelling and, finally, the architecture.

Today's Presentation Aged Care vs Retirement Living

Home care 50's to 60's Boarding houses 60's to 80's Institutions and hospital based designs. 90's to recent Housing models; resident oriented. Mid 90's onwards Lifestyle products.

A brief history in an Australian context

Home care 50's to 60's Boarding houses 60's to 80's Institutions and hospital based designs.

A brief history in an Australian context

Aged Care vs Retirement Living

90's to recent Housing models; resident oriented. Mid 90's onwards Lifestyle products.

Aged Care vs Retirement Living

Aged care

• Residents move in because of necessity.
• Accommodates and cares for the extremely frail.

Operator provides varying levels of high care.

• Often in households of 15 to 30 single rooms with
• ensuites. Each household accommodates a lounge,

dining room, casual living areas and staff stations.

• All meals are provided, prepared in a central kitchen

then delivered to each dining room.

• Secure household for memory care.

Retirement living

• Residents move in because of lifestyle choice.
• Accommodates retirees into active lifestyle.

Operator does not provide any care.

• 2 to 3 bedroom independent units or apartments;

sizes vary depending on price and location. Each is completely self-contained for independent living.

• Community centre providing an array of social
• ptions. There may be café or restaurant style

dining, but provision of meals are not standard.

Aged Care vs Retirement Living

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Staff station at entry into each household.

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Living area of a household

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Servery over looking living and dining area of a household

Aged care

• Communal areas

accommodating a cafe, convenience shop, salon, cinema and function room.

• Households of 17 beds each.
• Living and dining areas within

each household.

Typical bedroom

Aged care Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

• Variety of lifestyle offer.

Lobby and reception Lobby lounge Fine dining restaurant Library and business ctr Salon Admin Services Cafe, cocktail lounge, provision store and sports bar. Kitchen Wellness BBQ & el fresco dining

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

• Variety of lifestyle offer.

Reception and lobby

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

• Variety of lifestyle offer.

Lobby lounge

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

• Variety of lifestyle offer.

Sports bar

Retirement Living

• Car park allowing for 1 space to

each apartment.

• Community Centre.
• Outdoor recreational areas.
• Independent living apartments

from 1st to 4th floors.

• Variety of lifestyle offer.

Typical apartment

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.
• Awareness and acceptance that current accommodation is no longer
• suitable. Lifestyle must be better than living in their existing home.

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.
• Awareness and acceptance that current accommodation is no longer
• suitable. Lifestyle must be better than living in their existing home.
• Retirees need to either be self-funded or alternatives must exist to

allow affordability. In developing nations, retirement lifestyle is often for middle classes to the affluent. Ideal financial model for developing markets are still debatable.

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.
• Awareness and acceptance that current accommodation is no longer
• suitable. Lifestyle must be better than living in their existing home.
• Retirees need to either be self-funded or alternatives must exist to

allow affordability. In developing nations, retirement lifestyle is often for middle classes to the affluent. Ideal financial model for developing markets are still debatable.

• Many European nations have high levels of funding which

encourages aging in place.

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.
• Awareness and acceptance that current accommodation is no longer
• suitable. Lifestyle must be better than living in their existing home.
• Retirees need to either be self-funded or alternatives must exist to

allow affordability. In developing nations, retirement lifestyle is often for middle classes to the affluent. Ideal financial model for developing markets are still debatable.

• Many European nations have high levels of funding which

encourages aging in place.

• Urban density impacts on type of retirement living product; gated

communities, integrated communities, high rise apartment living, etc.

Influences on retirement lifestyle

• Lifestyle offering.
• Affordability.
• Government funding.
• Urban fabric.
• Social and cultural influences.
• Awareness and acceptance that current accommodation is no longer
• suitable. Lifestyle must be better than living in their existing home.
• Retirees need to either be self-funded or alternatives must exist to

allow affordability. In developing nations, retirement lifestyle is often for middle classes to the affluent. Ideal financial model for developing markets are still debatable.

• Many European nations have high levels of funding which

encourages aging in place.

• Urban density impacts on type of retirement living product; gated

communities, integrated communities, high rise apartment living, etc.

• Frequent point of discussion amongst Asian communities. Research

and focus group discussions, to date, show little resistance to the concept of retirement lifestyle.

Influences on retirement lifestyle Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum

• The Netherlands
• Britain
• USA
• China
• Australia

Retirement lifestyle spectrum Designs fit for retirement

• Market research
• Financial modelling

and valuation

• Branding and

marketing

• Operations and sale
• Architecture

Salient points

• A retirement village is NOT a real estate proposition.
• It is a lifestyle and hospitality product.
• The architect needs to assemble, coordinate and generate

the focus to deliver the appropriate product.

Market research

• Who are they?
• Where are they coming

from?

• How much will they pay?
• What services do they want?
• Who are the competitors and

what are they offering?

• How does data inform the

architecture?

Market research

• Who are they?
• Where are they coming

from?

• How much will they pay?
• What services do they want?
• Who are the competitors and

what are they offering?

• How does data inform the

architecture?

Market research Financial modelling

• How many units to build?
• How does design affect

financial modelling?

• Now much rental or DMF to

charge?

Initial Entry Price

The entry price is the amount paid to the operator for the right to occupy a village residence for as long as the resident wishes to stay. The entry price is, in most cases, aligned with residential house prices in the immediate area of the village.

Recurring Charges

Retirement village residents typically incur a regular monthly charge to cover the running of the village, including staff, insurance, upkeep of common areas, organised activities, emergency call systems, village bus services, and resident utilities. In many cases, operators provide additional services such as meals, laundry, cleaning and specialised concierge services; however, these services are usually not included in the standard monthly charges, and are charged at an agreed cost.

Deferred Management Fees

A Deferred Management Fee (DMF) – sometimes referred to as a “departure” or “exit” fee – is a percentage of either the entry price, or a percentage of the resale value of the unit. The total amount of the final DMF deduction is based on the period of occupancy, but often capped after a certain number of years. The DMF is collected by the operator from the resale amount of the unit when the unit is sold to another party.

Financial modelling

• How many units to build?
• How does design affect

financial modelling?

• Now much rental or DMF to

charge?

Financial modelling Valuation

• How much is the property

worth?

• How much is the business

worth?

• What can be done to

improve its value?

Valuation Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Innovators

Esteem Seekers

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Contended Conformers

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Innovators Esteem Seekers Contented Conformers External Indoors

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Innovators Esteem Seekers Contented Conformers Furnishings Gardens

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Innovators

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Esteem Seekers

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

Contented Conformers

Marketing and branding

• Which psychographic profile?
• What type of lifestyle?
• How does design

accommodate lifestyle?

• What architectural language?
• Which promotional medium?
• How to make the proposition

irresistible?

• Psychology; what intangibles

do customers seek.

• What facilities do they want.
• What lifestyle features are

they looking for?

• How to Maintain operations?
• How to minimize operational

costs?

• What infrastructure to

incorporate?

Development Operations

Operations

Site Selection Market Research Financial Analysis Master Plan Yield Analysis Option 1 Option 2 Option 3 Verification

• Financials
• Valuation
• Branding
• Operations
• Sales
• Authorities
• Staging
• Cost Planning
• Buildability

Preferred Option On-going Design Development

Operations Architecture

Typical sequence of events

Site Selection Market Research Financial Analysis Master Plan Yield Analysis Option 1 Option 2 Option 3 Verification

• Financials
• Valuation
• Branding
• Operations
• Sales
• Authorities
• Staging
• Cost Planning
• Buildability

Preferred Option On-going Design Development

Product

Architecture

Typical sequence of events

Amarco Apartments Integrated aged care, community services and retirement apartments in Kingsville, Melbourne. Main Entrance

Architecture

Amarco Apartments Integrated aged care, community services and retirement apartments in Kingsville, Melbourne. Community centre lounge

Architecture

Amarco Apartments Integrated aged care, community services and retirement apartments in Kingsville, Melbourne. Community centre sports bar

Architecture

Amarco Apartments Integrated aged care, community services and retirement apartments in Kingsville, Melbourne. Typical apartment

Architecture

The Menzies High rise, inner city, apartments. Close proximity to local amenities thus providing social integration with broader community. Front Entrance

Architecture

The Menzies High rise, inner city, apartments. Close proximity to local amenities thus providing social integration with broader community. Community centre lounge

Architecture

The Menzies High rise, inner city, apartments. Close proximity to local amenities thus providing social integration with broader community. Community centre dining

Architecture

Rosebud Boutique development comprising 66 apartments for life. Designed with an ability to deliver services to residents in the future. Front elevation

Architecture

Streeton Park Lifestyle apartments intended for Melbourne arts community. Located in Heidelberg close to Melbourne MOMA. Apartments looking over Yarra River

Architecture

Redmond Park Inner city apartments in close proximity to Melbourne University and amenities in the suburb of Carlton. Street frontage

Architecture

Virtual retirement communities

San Francisco Fremont San Jose

On Lok inc., a not-for-profit organization founded in the early 1970s by a group of citizens concerned about the plight of elders and the lack of long term options in the community.

Architecture

30th Street Senior Center

• San Francisco's largest multi-purpose senior centre.
• Serves more than 5 000 seniors per year.
• Foster well being from home to community.
• Help seniors remain healthy, independent and in their communities

for as long as possible.

Virtual retirement communities

Architecture

Always Active Program Activities Nutrition Bilingual case management Resource Centre Virtual retirement communities

Architecture

Provision of total long term care through comprehensive health plans which include full medical care, prescription drugs, home care, adult day health, transportation, and more, allowing members to remain at home for as long as possible.

• Physicians
• Nurses
• Social Workers
• Physical
• Occupational Therapists
• Dieticians
• Transportation Staff
• Home Care Workers
• Recreational Activities Leaders

Virtual retirement communities

Architecture

On Lok Housing,

• perated separately

from the services programs, accommodates some seniors in San Francisco.

On Lok House

Opened in 1980. 54 studio units. All residents meet HUD low income standards

1000 Montgomery

Opened in 1989. 35 rooms with shared amenities.

Dr William L Gee House

Opened in 1994. 42 single occupancy units with shared amenities.

Virtual retirement communities

Architecture

Virtual retirement communities

Architecture

Oscar Wilde, 1854 ~ 1900 Victorian era author, playwright, poet and popular London socialite.

As Oscar Wilde lay dying in a Paris hotel, he is reputed to have looked at the wallpaper and said, 'One of us has to go'.

Autonomy

To be in control of one's lifestyle and well being.

• Maintaining sense of purpose.
• Moving into a better environment.
• Spectrum of choice.
• Not having to accept process of

ageing begrudgingly.

Architecture