Levande has secured a $1.7 billion sustainability-linked loan facility to develop new retirement communities and improve its existing villages. Aveo has also announced it will convert $2 billion in financing across its retirement living portfolio into sustainability-linked loans.
The deals show the scale of retirement village capital investment. But building more homes is only part of the challenge. As residents move into villages later in life and stay longer, operators are also having to plan for the care people may need beyond their front doors.
Westpac Institutional Bank Chief Executive Nell Hutton described housing supply as one of Australia’s greatest economic and social challenges. For village operators, that raises another question: what happens when someone needs more support than independent retirement living can provide?
Building homes for changing needs
Levande’s facility is backed by a lending syndicate that includes Westpac, ANZ, MUFG, Commonwealth Bank and Macquarie. Its borrowing costs are linked to targets covering emissions reduction, sustainable design and resident wellbeing.
The company says it’s investing in adaptable homes, communal spaces and wellbeing professionals who help residents access support as their needs change.
At Levande, on average, people move in at around 75 years old and often stay for more than nine years. More than two dozen residents are over 100, and the operator says people arrive with more complex needs than they did a decade ago.
But residents are not necessarily asking villages to provide more care themselves. Levande says they want to maintain their independence while knowing where to turn when they need help.
“Residents are telling us they value their independence, but they also want confidence that support is available when they need it. Our role is to help people navigate that journey so they can continue enjoying the benefits of community living,” Levande Chief Executive Officer Kevin McCoy said.
When support sits outside the village
Levande isn’t an aged care provider. Its residents live independently and access additional care through external services. When someone’s needs can no longer be supported in that setting, the company says its wellbeing teams help residents and families explore alternative accommodation and care options.
Recognising that someone needs more support, however, is different from securing a service when they need it.
As of 30 June 2026, 106,977 people nationally were waiting for an ongoing Support at Home place, according to Australian Government figures. The estimated wait for people assessed as standard priority was seven to eight months.
Residential aged care faces capacity pressures too. An Australian Government review released in April estimated sector-wide occupancy at around 95% in January 2026 and identified limited supply as a barrier to finding suitable care, particularly for people with complex needs.
These are national figures, not outcomes reported for Levande residents. They show why planning a transition and accessing the care required can be two different challenges.
Planning before a crisis
Levande says its wellbeing teams aim to recognise residents’ changing needs before a crisis occurs. They help people navigate My Aged Care, understand Support at Home funding, and connect with external providers. The company also partners with home care provider Five Good Friends, although residents can choose their own provider.
For couples, moving into residential aged care can also mean living apart. At Levande’s newest Sydney village, The Cambridge, an Opal HealthCare residential aged care facility occupies the lower four floors of the building. Levande says having care nearby can help partners remain close when one needs to move.
“The future isn’t about retirement villages trying to provide every service themselves. It’s about building strong partnerships that make it easier for residents to access the support they need while remaining connected to the community they love,” McCoy said.
As retirement village capital investment grows, planning for residents’ changing needs must extend beyond the buildings. For village leaders, that means recognising when more support is needed, building relationships with care providers and helping families prepare for a transition that may depend on availability in the wider aged care system.
