join our community!

• Sense of community with friendly neighbours
• Security of tenure; right to occupy
• Security of investment; right to redemption value when the lease is terminated
• Resident involvement in the management of the project
• Worry-free maintenance
• Affordability
• Peace of mind 

Life Leases provide a unique housing alternative for seniors who want to live in community.
Residents must have accumulated sufficient equity to be able to enter into a Life Lease agreement.
Retired and semi-retired people who are capable of and maintain independent living. 

The Life Lease Capital Payment of a Life Lease agreement for a housing unit in Garden Park Tower is typically the current Assessed Value, as determined by the BC Assessment Authority.
There are typically no real estate fees or property transfer taxes paid on a Life Lease agreement.

• Maintenance, repairs and replacements to the building and individual housing units
• Utilities (hydro, gas, water, sewer)
• Common areas and amenities (solarium, exercise room, woodshop, underground parking)
• Garbage collection, landscaping, snow removal and cleaning costs for the common areas
• Building insurance
• Contribution toward a contingency for future expenditures 

• Residents’ insurance on personal property and on liability
  (Note: typical condo or tenant/renter insurance is not appropriate for a Life Lease)
• Telephone, television and internet services
• Property taxes (Note: Home Owner Grants are available for eligible residents) 

Yes, fees do increase from time to time.  However, there is no motivation for the charges to increase without good reason as the building is managed on a non-profit basis.