The 41 one-, two- and three-bedroom apartments will be located on the top six floors of the 20-storey ‘U City’ building in Franklin Street in the centre of Adelaide, which is scheduled for completion in 2019.

Called the city’s first ‘retirement high-rise’, the $80 million project will also be home to disability accommodation as well as two levels of underground parking, seven floors of retail and commercial space, a 400-seat function centre and the headquarters for Uniting Communities’ services.

“We know that the downsizers of today are looking beyond the traditional model of retirement housing,” Simon Schrapel, Chief Executive of Uniting Communities said

The units are priced from $400,000 up to $900,000, and future residents will also have access to an indoor/outdoor communal area for residents, function rooms, and a 24-hour concierge with a menu of services and support.

Uniting Communities says they have already received interest from dozens of potential ‘downsizers’.

“We believe the initial sales response we’ve received demonstrates that U City is set to deliver just the sort of independent and community-focused retirement lifestyle that many older South Australians are looking for,” Mr Shrapnel said.

“It’s especially relevant now, with recent Federal Budget housing measures making it easier for people to move into smaller, more practical homes that suit their retirement goals. Until now, many South Australians have been hesitant to downsize due to the previous restrictive pension assets test and superannuation rules.”