Maryville Courts progress

Press, 25 August 1983, Page 2

Maryville Courts progress

Workers erect the framing for three display units at Maryville Courts, the $3.7 million retirement complex on land owned by the Catholic Church in the central city. Sales at Maryville Courts and at Bishopspark, Christchurch’s two new retirement complexes, have been steady. Mr Bryan Pearce, of the Manchester Home Centre, said that four units in the Maryville Courts project had been sold unconditionally. No money had changed hands yet, but the papers had been signed. The $3.7 million development on property owned by the Catholic Church in the central city will comprise 61 self-contained cottages and communal facilities

built around a tiled central plaza.

The land includes the former St Mary’s Primary School site in Manchester Street and adjoining sections bought by St Mary’s parish and the diocese for the purpose. It is hoped that the first three units in stage one of the development will be completed by October. They were intended as display models but all have been sold.

Residents will not buy their properties outright. Instead, they will lend the trust administering the complex $64,000 for a single unit and $68,000 for a double one in exchange for lifetime occupancy and care. Each year the trust will take 5 per cent of the loan

to cover costs and when the cottage is vacated, the balance of the money will be returned to the elderly person’s estate.

Bishopspark, a $4 million retirement village in Park Terrace, is owned by Anglican Social Services. The development is centred on Bishopscourt, formerly the residence of the Bishop of Christchurch, but it will incorporate two adjacept sections, one to provide access to Dorset Street and the other as the site for a midrise block.

The director of Anglican Social Services, the Rev. E. A. Johnston, said yesterday that sales had been going well but that they had fallen off recently. Deposits had been received and papers signed for 13 of the 34

garden units in the first stage and seven more sales were to be finalised fairly soon.

A display unit to attract buyers was almost completed, he said. When it was, a major promotion campaign would be launched “to sell the rest off.” A one-bedroom flat at Bishopspark costs $60,500 and one with two bedrooms, $72,500. On top of that, single residents must pay $12,500 for a life-care package and married couples, $22,500.

Mr Johnston said that the development would comprise about 60 units altogether but that the exact number had yet to be decided.

The complex is due for completion in May, 1985.