Kerikeri Retirement Village has revealed plans to buy up as many as 42 neighbouring properties and more than triple its number of units as it tries to cater to an exploding elderly population.
The village told neighbours about its expansion plans at a series of public meetings yesterday.The first retirement complex in Kerikeri and the only one run by a non-profit trust, it currently has 87 independent living units and 66 care beds a short distance from the town centre.
It wants to expand to about 300 units and 100 beds to cope with what chief executive Hilary Sumpter calls ''the silver tsunami'', caused by an ageing population plus an influx of new residents to the Bay of Islands.
The village's announcement comes just a month after aged-care firm Arvida unveiled plans to spend $130 million building a retirement complex with about 200 villas and 80 care beds on an 18ha site off Hall Rd.
Sumpter said Kerikeri Retirement Village planned to buy up properties on Wendywood Lane, Stella Dr and the southern and western sides of Hawkings Cres as they became available.