Construction firm Wates and retirement living company Riverstone held a ceremony to mark the structural completion of later living residence Riverstone Bishops Avenue.

The “topping out” ceremony symbolises the completion of the structural phase of a construction project and occurs when the highest point of the building, often the final beam, is put in place.

The event was attended by the Mayor of Barnet, the Barnet Education and Learning Service, Barnet & Southgate College and BOOST, which provides employment support for local residents.

Once complete, Riverstone Bishops Avenue, located in Hampstead, will be an exclusive residence for over-65s, with an Arts & Crafts inspired design, located within an ancient woodland setting.

The development will offer 93 apartments across six stories, including one, two and three bedroom apartments and penthouses. Residents will live independently but will be able to access amenities including a pool and spa, exercise studio, restaurant, cinema and 24/7 concierge, as well as health support and care.

The property, which will be Riverstone’s third residence in London, will open in 2025. It has been created by architects RG+P and interior designers, Bowler James Brindley.

The design includes sustainable solutions such as water efficient fixtures, low energy lighting, and the use of low carbon materials throughout the building. Renewable energy generation will be promoted via bio-solar roof panels, with electric vehicle charging stations, heat recovery technology, and rainwater harvesting for landscape irrigation.

Through this project, Wates has offered nine apprenticeships, 10 job placements, seven longer-term employment opportunities and 24 work experience opportunities, as well as supporting 393 local students with education activities, including assemblies and workshops.

Wates is on target to spend over £150,000 with social enterprises and has purchased all site furniture from Rype, a social enterprise which employs people who are long-term unemployed with disabilities.

Mark Craig, regional director for Wates Construction London, said: “I’m delighted that at the ceremony we were joined by the Mayor of Barnet, a local year 10 student who did a work experience placement here, and by so many of the social enterprises who have worked alongside us on this project.”

Martin Earp, chief executive, Riverstone, said: “The milestone completion of the structure is a proud moment for Riverstone and our construction partners, Keltbray & Wates, and the ceremony today was a great opportunity for us to celebrate the achievements of all those who are working on the project and the close successful collaboration.”