Life Lease Program

If you are 55 years of age or older, you may be eligible for the Life Lease Program.

The Life Lease Program offers many of the benefits of home ownership without the responsibilities. You’ll live in an affordable, 572 square-foot, apartment-style suite that comes with these benefits:

  • Guaranteed return of investment,
  • 24-hour maintenance service,
  • Secured access,
  • Fire alarm system,
  • Spacious common area for recreation and social activities,
  • Sense of community within community, and
  • Freedom to take vacations without worrying about home maintenance.

Who is eligible?

You must be 55 or older, and there are income and asset limits. For singles, the maximum income limit is $48,400. For couples, the maximum income limit is $59,100. Your household assets must not exceed $415,000.

We give priority to applicants who have the greatest need for housing based on current housing conditions, current shelter costs, and income.

How much does it cost?

If you qualify for a Life Lease suite,¬† you’ll be asked to pay a deposit of $61,200 and a monthly occupancy fee of $655. Parking is an additional $25 per month. (The monthly occupancy fee covers unit operating costs, a building maintenance fee, heat, water, property taxes, and administration.) There is also a key deposit of $25 which is refundable.

The deposit price is fully refundable. We’ll give you your deposit back – less damages – within 90 days of receiving your notice to vacate.

To apply

For more information about the Life Lease Program and to apply, call us at (306)752-7300.

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