LDK Greenway receives funding from Clean Energy Finance Corporation
In an industry first, the Clean Energy Finance Corporation (CEFC) is providing finance to their first ever Seniors’ Living project – the LDK Greenway village in ACT. LDK Greenway is set to be home to as many as 450 seniors, creating a new model for sustainability for Australia’s rapidly growing retirement living sector.
Clean Energy Finance Corporation
The CEFC is an Australian government-owned ‘Green Bank’ that was established to facilitate the increased flows of finance into the clean energy sector. The CEFC is responsible for $10 billion in clean energy projects, with the aim of lowering carbon emissions by investing in renewable energy, energy efficiency and low-emission technology initiatives.
The incentives to reduce emissions across the built environment are numerous. Energy efficient buildings using proven clean energy technology create obvious benefits, such as reducing energy consumption, alongside intangible outcomes like supporting a least-cost pathway to net zero emissions, as well as improving health and resilience outcomes for households and residents.
CEFC’s property-related investment commitments include projects with the ability to deliver energy efficiency and integrate renewable energy into new and existing buildings.
CEFC investment at LDK Greenway
CEFC is providing $60 million to improve the sustainability outcomes at the village.
CEFC CEO, Ian Learmonth, commented, “We are delighted to see our finance being used to cut emissions in the retirement living sector.”
“It’s exciting to see the property sector recycling buildings, giving large-scale assets such as commercial office buildings a second life in an environmentally-friendly manner.”
The sustainability initiatives to be rolled out at the Greenway site will include:
- Over 700kw of solar PV across rooftops and parking areas;
- Energy-efficient lighting and smart controls;
- An emphasis on high-efficiency heating, ventilation and air conditioning, as well as the use of heat recovery systems and electric heat pumps; and
- Improved wall, underfloor and roof installation, as well as high-performance window glazing.
Cromwell’s Chief Investment Officer, Rob Percy, said, “As today’s investors factor in ESG considerations as part of their decision making, this approach is becoming the expected minimum standard for good investment practice.”
“Our longstanding sustainability framework is helping Cromwell meet these considerations and we are pleased to be able to work with the CEFC to ensure LDK Greenway benefits from a range of sustainability initiatives.”
LDK Healthcare CEO, Byron Cannon, echoed this sentiment, adding, “We are committed to developing an industry-leading, innovative design for seniors living communities with a focus on service levels and providing retirees and the ageing population with comfort and care.”
The emissions savings for the Greenway village are expected to reach almost 30,000 tonnes of carbon over the lifecycle of the development. Recycling existing buildings avoids the carbon and financial cost of demolition and new construction, and is becoming increasingly attractive to investors, owners and developers who are interested in pursuing a net zero carbon built environment.
LDK Healthcare is redeveloping an existing Cromwell property in Greenway, ACT, into Australia’s most advanced seniors’ living residential village. The project, currently under construction, is planned to open in 2020 with over 380 purpose-built apartments, providing private, secure living in a vibrant village atmosphere to over 450 seniors, all in close proximity to local amenities.
The first display suite opened at LDK’s flagship village in April, alongside some of the communal areas, with Stage One now selling. If you are interested in a tour of the display suite or site, call 1300 535 000, or visit www.ldk.com.au.