Ground has been broken on St Francis; a $150 million retirement living community in East Ivanhoe and the latest expression of Villa Maria Catholic Homes' (VMCH) long-standing commitment to creating places where people can live well, remain connected and be supported through every stage of life.
CDF is proud to support the development with a $90 million loan, continuing a partnership with VMCH that has helped bring some of Victoria's most significant Catholic aged care and retirement living projects to life.
Premium living in the heart of East Ivanhoe
Located on Lower Heidelberg Road opposite Ivanhoe Park, St Francis will comprise 57 premium apartments, designed to complement the character of the surrounding neighbourhood.
Residents will have access to a swimming pool, gymnasium, cinema, library and entertainment hub, creating a community where people can enjoy greater choice and independence while remaining close to family, friends and the neighbourhoods that have long been part of their lives.
"Many people want to stay in the neighbourhoods where they've built their lives. St. Francis allows them to continue being part of the local community while enjoying a home designed for the next stage of life," says Sonya Smart, VMCH Chief Executive Officer.
Construction is expected to be completed in mid-2028.
"Many people want to stay in the neighbourhoods where they've built their lives. St Francis allows them to continue being part of the local community while enjoying a home designed for the next stage of life."
Sonya Smart
VMCH, Chief Executive Officer
Building on what came before
The sod turn at St Francis comes as VMCH's St Clare community in Kew approaches its first anniversary, following a major development supported by a $185 million CDF loan.
Hacer Group, which delivered St Clare, has again been appointed to build St Francis, bringing proven expertise to a project with equally high ambitions.
While each community has its own character, St Clare and St Francis together reflect VMCH’s sustained commitment to retirement living that keeps people genuinely connected to the places and relationships that matter to them.
Investment that reaches further
The impact of these developments extends well beyond their residents.
VMCH's work spans residential and at-home aged care, disability services, specialist education, affordable housing and retirement living; all guided by its Catholic values of love, joy, courage and hospitality, and a mission centred on supporting people to live with dignity and opportunity.
Retirement communities like St Francis are integral to that mission. Their success strengthens VMCH’s capacity to reinvest in services and housing that respond to people across a range of needs and circumstances.
“Projects like St Francis help us continue investing in the services and affordable housing that support people across Victoria to live well and with confidence at every stage of life,” Sonya Smart says.
That connection between housing and mission is particularly evident here. The St Francis previously housed VMCH affordable housing residents, who transitioned to the nearby Trinity Lane affordable housing community, completed by VMCH nearby in 2023.
It is a model that keeps investment working for the community - generating returns that flow directly back into aged care, disability services and social housing.
From St Clare to St Francis, and through its broader work in aged care, disability services and social and affordable housing, VMCH continues to demonstrate what is possible when mission and long-term partnership come together in the service of others.
Your savings can do more than grow. By opening an account with CDF Community Fund, you can earn a competitive rate of interest while empowering Catholic organisations like VMCH to build, serve, and grow. It's a greater return than money alone. Learn more and apply today.
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CDPF Limited, a company established by the Australian Catholic Bishops Conference, has indemnified the Catholic Development Fund ABN 15 274 943 760 (the Fund) against any liability arising out of a claim by investors in the Fund. In practice, this means your investment is backed by the assets of the Catholic Archdiocese of Melbourne. The Fund is required by law to make the following disclosure. Investment in the Fund is only intended to attract investors whose primary purpose for making their investment is to support the charitable purposes of the Fund. Investors’ funds will be used to generate a return to the Fund that will be applied to further the charitable works of the Archdiocese of Melbourne and the Dioceses of Sale and Bunbury. The Fund is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission (ASIC). An investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). The investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act (Cth) or regulation by ASIC. Investors may be unable to get some or all of their money back when the investor expects or at all and investments in the Fund are not comparable to investments with banks, finance companies or fund managers. The Fund’s identification statement may be viewed here or by contacting the Fund. The Fund does not hold an Australian Financial Services Licence.
