I have been wanting to visit a new retirement village concept that was launched by the government as an experimental project for a while. It is called Kampung Admiralty and it was finally completed in late 2017. I finally made it and reviewed the project this week. More of that later.
Retirement villages have been a pet project for me for a number of years. I came across a newspaper article around 2012 and connected with the person being interviewed. We had coffee for a number of times to talk about this.
As the population ages, we have more seniors yearning for a retirement lifestyle that was currently not available in Asia which has been very popular in the developed countries like America, Japan, Holland, and Australia. Able people over the age of 60 were aiming for an active retirement concept where live amongst like-minded people and do activities that suit their age group.
At this later stage of their lives, there are many seniors who are asset rich but cash poor. Most may be experiencing an empty nest situation and really do not need a large home anymore. They do not mind downsizing to a smaller home to encash their assets but there are not many attractive lifestyle options available to them. We see examples of retired teachers who remain very active in their seventies and wishes to live in an environment with their friends that has great medical facilities. Having a smaller 500 square feet or less apartment is sufficient for them. Having all the necessary facilities nearby is a bonus.
My friend and I continued our discussions into 2016 and even roped in my interested brother-in-law to see if we can build a retirement village in Singapore. We did our research and estimated that there would be a demand of at least 6,000 such units and there was zero supply available then. We looked at an acquisition of one hectare of land and building a 280-units project solely for retirees. This will be on a long term lease basis of up to 30 years with a monthly maintenance fee. The cost of the lease was estimated to be between $200k to 450k and we calculated that the project’s IRR was in the high teens. Sadly, the project did not continue as there were some disagreements between the partners on the general direction of the discussions. Property developers were also slow to look into this sector and a number tried to market themselves as such but were actually bogus.
The government had finally come around to the same conclusion and they were seeking inputs from the industry. They decided to bring a team together to construct an experimental retirement village. Hence Kampung Admiralty was born (Kampung is the Malay word for village).
One of the country’s top design firm WOHA was awarded the project and it was completed in late 2017. According to them, the project was described as such :
“Kampung Admiralty is Singapore’s first integrated public development that brings together a mix of public facilities and services under one roof. The traditional approach is for each government agency to carve out their own plot of land, resulting in several standalone buildings. This one-stop integrated complex, on the other hand, maximises land use and is a prototype for meeting the needs of Singapore’s aging population.
Located on a tight 0.9Ha site with a height limit of 45m, the scheme builds upon a layered ‘club sandwich’ approach. A “Vertical Kampung (village)” is devised, with a Community Plaza in the lower stratum, a Medical Centre in the mid stratum, and a Community Park with apartments for seniors in the upper stratum. These three distinct stratums juxtapose the various building uses to foster diversity of cross-programming and frees up the ground level for activity generators. The close proximity to healthcare, social, commercial and other amenities support inter-generational bonding and promote active aging in place.”
Within a year of its open, the housing development Kampung Admiralty by Woha Architects has won Building of the Year at this year’s World Architecture Festival. The entry beat 535 projects from 57 countries to snag the top prize at the awards, considered the Oscars of the architectural world. The same project had received the Best Commercial Mixed-Use Future Project award at the 2016 edition of the festival.
https://www.dezeen.com/2018/12/07/kampung-admiralty-woha-singapore-world-building-year/
As expected, the demand was overwhelming for the 100 plus units that were available for purchase, even though the criteria was restricted to a certain age group.
I decided to make a trip there this week to see for myself what had been created. The project was nestled within a matured housing estate, surrounded by other public housing buildings and just next to a mass transit train station (Admiralty MRT).
It consisted of 2 residential towers of up to 11 stories high while the lower floors are catered to communal activities. There were a lot of greenery and plantation spread throughout the buildings. An Active Aging Center was located on the 6th floor where residents gathered for various activities in air-conditioned comfort. I saw a number of elderly women engaged in board games and socializing with one another.
On the ground floor, there was plenty of space for gatherings and chit-chat in the breezy atmosphere. Supermarkets and shops were easily accessible. There was even a Medical Center conveniently located there. On the 2nd floor, there was a huge food court for one to grab a meal. Outsiders can also visit the area to enjoy the amenities.
This is a good start for the future development of more like-minded projects to cater to the growing aging population. It is a place where I would like to grow old with friends, have regular gatherings to pass my time. It was what my partners had pictured in our discussions a few years ago and finally coming to reality.
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