Retirement village company Ryman Healthcare has announced that it will soon be building a new retirement village in Christchurch to house 450 residents.

On an 11ha site, the village will be located at East Ellington Drive.

It will have resort style facilities including a movie theatre, gym, hair and beauty salons, a library and bowling green.

The village will consist of a mix of service apartments, independent townhouses, hospital, dementia care and a resthome.

Ryman will have 23 villages throughout the country incluing the Christchurch site. It is currently working on villages at Gisbourne and Dunedin.

This $90 million Christchurch village will employ more than 150 staff.

“We are very pleased to be making another substantial investment in our home town, and to be able to give a much needed boost to the local building industry,” said Ryman chief executive Simon Challies.

Ryman reported a 12% rise in profit for the six months to September.

At press time its share price was trading at $2.04.