A housing option for seniors who want to live independently
We are in the planning stages for our next housing development, which will be connected to Columbian Manor. Unlike our affordable rentals, Life Lease units will be offered at rates closer to the average market rates for seniors condo living. Preliminary designs include spacious bright floor plans, elevators, underground parkade, and access to expanded common spaces that include a chapel, dining room, and more.
Life Lease is a housing option for seniors who want to live independently and retain equity. K.C. Charities owns the building, and residents purchase the right to occupy a unit, similar to condo living. There are also monthly fees to cover building operating costs. This includes property taxes, maintenance, insurance, utilities, reserve fund contributions, management, etc.
If you no longer want to live in your Life Lease (or are unable to) there are options for K.C. Charities to assume your unit and re-lease it. Your original deposits and other payments may then be returned, less any amounts owing.
Refundable Pre-Lease Deposits will be required to hold the unit of your choice on a first-come, first-served basis. Pre-Lease Deposits are fully refundable if the project does not move forward. Once sold out, your name will be added to the waiting list for an available unit. Additional payments will be due as the building progresses through construction.