Freedom Aged Care, who took over the operation rights two weeks ago, invited all parties to have their say.

It comes after the 35 people renting units were told they need to leave to allow the "mum and dad investors" to sell their property.

Colleen Stewart, whose father has lived at the facility for 11 years, said it was a “good honest meeting”.

“Sunrise left the place in a terrible situation, and had these people not taken this on, then the doors would have been shut with no notice and the residents would have been left homeless in a matter of hours,” she said.

“Listening to it all I totally understand where they are coming from, but in the same breath I really feel for the residents. It is been their home for so long and now they have to go.

“But Freedom have been kind enough to let them stay 12 months or longer and the management of Living Well said within 12 months they are quite confident they can accommodate everyone.”

Financial planner George Flack, who has been assisting residents pro bono, said it was positive.

“It does mean some debris but in the long term, it will work for the better of Bendigo,” he said.

“The ideas and concept of Freedom are different from those before; it is a step up. If it is well run, it will be profitable, which was the major flaw before.

“It is a wonderful outcome.”

Investor Terry Medcalf said Freedom is the only way forward.

"I think they can all see that now,” he said.

“The owners have gone without rent, everyone was losing when you look at it. The owners just want to be offered a buy-out figure they can be happy with.”

Freedom Aged Care owner Paul Browne said it was important to bring the stakeholders together to understand what they are trying to achieve.

“We are here to sort this mess out and give Bendigo a much needed resource."