Ryman Healthcare is planning to build a $350 million retirement village in Coburg North in Melbourne. The New Zealand-listed company plans to transform the 2.56-hectare site at 14-22 Gaffney Street into an integrated retirement village. The village will combine modern independent living apartments and a full aged care centre, including specialist dementia care, on a single site.

The village will also include a café, bar, gym, cinema, indoor pool, and hair and beauty salons. It will create more than 130 long-term jobs for the area as well as work for hundreds of tradies and contractors during its construction phase. Less than 10km from Melbourne's CBD, the Coburg North site is next to Batman train station, is just 50m from a tram stop, and only a short walk to Pentridge Shopping Centre.

The Ryman development will include the provision of new commercial space along Gaffney Street, adding the potential for retail, hospitality and health service operators within the retirement village precinct.