7 May 2019
Lifestyle Communities managing director James Kelly has established a charitable foundation focussing on youth mental health, in memory of his twin sister.
On 30 April 2019, Lifestyle Communities announced to the Australian Securities Exchange that Mr Kelly had transferred 612,500 of his shares into the Blue Sky Foundation.
“The Blue Sky Foundation is a charitable foundation Mr Kelly has established to focus on youth mental health,” the statement said.
“With the Lifestyle Communities shares and other funds transferred, the starting value of the foundation will be $5 million.”
Mr Kelly was quoted in the statement saying: “The foundation has been set up in memory of my twin sister Elizabeth Kelly, who committed suicide at 21 years of age due to mental health issues and I am hoping that the foundation will be able to help make a difference to research and management in this area.”
A company spokesperson stated that the foundation had been set up and recently had its inaugural meeting.
Lifestyle Communities is based in Melbourne, Victoria. It has 18 residential land lease communities in planning, development or under management in the State.