While Edward River Council general manager Phil Stone expects the first six units to be built and occupied within 12 months, some reports tell a different story about interest in the facility.
The asking price for the two bedroom 167m² units start at $475,000 with a weekly fee of $130 also payable.
Council is proposing to refund 65 per cent of the ‘entry fee’ once tenants vacate.
The minimum age for residents will be 65 years.
Deniliquin real estate agents currently have 21 two bedroom or more properties listed for under $475,000.
These include a larger two bedroom house for $165,000, a three bedroom, two bathroom house for $460,000, a four bedroom, two bathroom house for $430,000 and a comparable low maintenance two bedroom unit for $140,000.
The project has been acknowledged as much needed in the community, however some councillors and community members have voiced concerns regarding the financial feasibility of the project.
Council’s Audit Risk and Improvement Committee advised more financial details were required before they could endorse the project back in 2021 and 2022.
By August last year, Councillors Harold Clapham, Shirlee Burge, Pat Fogarty and Marc Petersen all voted against proceeding with stage one of the project, citing concerns with the financials and increased costs of construction at the time.
Mayor Peta Betts used her casting vote to approve the $4.43 million first stage of the project.
Council secured a $1 million grant for the first stage of the project, leaving a balance of $3.43 million.
Mr Stone said interest in the village had been strong, with local marketing underway ahead of a wider campaign to give locals the first opportunity to move in.
“We have had thousands of clicks on the website, and we are quietly optimistic about getting six (contracts) in fairly soon,” he said.
However, at its February meeting, council’s Edward River Village committee was told by the project’s manager there had been only two or three new preliminary inquiries.
“Most (people on the prospective list) have moved on or circumstances have changed. To date, no one has asked for a draft contract,” the committee minutes state.
Cr Betts said council was conscious that Deniliquin and district is not an ‘off the plan community’.
“Those looking are not used to that, so they need to see and feel what they are buying,” she explained.
At the most recent village committee meeting, the project manager advised the village committee a ‘high level’ budget would be presented at their next meeting.
Despite the lack of interest and high cost of construction, Council is continuing its marketing efforts locally with wider marketing planned for the end of June “if required due to price sensitivity”.
Mr Stone said works at the site being undertaken by Deniliquin Civil & Construction has been delayed slightly, but he expects council’s engaged builder, Bernie Green from B Green Constructions, to start on the first six units in coming weeks.
“We are building the civil infrastructure now, but there have been some difficulties in the lay of the land,” he said.
“It should be October or November when we have the first dwelling ready, and we should have the construction of the first six units (completed) this time next year.”
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