St. Michaels Villa is bound by the spirit of closeness to the very heart of the
Transcona community. The residence is blessed with a location from which a short stroll
will bring one into touch with the vast array of commercial, recreational, professional,
health, and municipal services of Downtown Transcona and the green tranquility of Kern
Park. The site is adjacent to public transit services which provide a most convenient
access to regional shopping facilities at Kildonan Place Mall or to downtown Winnipeg.
A NEW LEASE ON LIFE
Pride of Ownership and Security with the Flexibility of
St. Michaels Villa is moved by the spirit of long term relationships with its
residents in a community that will continue to provide an enjoyable and attractive living
environment well into the twenty first century.
The full and continued enjoyment of residents in their new St. Michaels Villa
home is secured for life by a life lease agreement. Residents do have the option of
disposing of their life lease and recouping their equity investment in
accordance with conditions outlined in the life lease agreement.
St. Michaels Villa Inc. life lease agreement will guide and protect from risk,
those seniors who wish to secure their opportunity for residency while the project is
under development or it is complete. Participation can be secured with a refundable
Affordability · Security · Investment
St. Michaels Villa provides generous living at modest costs. Participation in the
project provides the opportunity for a sound equity investment and sound financial
stewardship. Residents are blessed with the security of ownership and with the freedom of
Beneficial financing and considerable equity contributions from both the Sponsors and
the Government of Manitoba afford the opportunity of quality accommodation at highly
competitive monthly rents with modest refundable equity contributions from Villa members of
approximately $17,000 and $20,000 for agreeable one and two bedroom suites.
A life lease in St. Michaels Villa is an asset which is guaranteed to
maintain its initial nominal cash value. The equity invested in the life lease is tax
exempt and has further value in its beneficial lowering of monthly housing charges to
the life lease holder by some $133.00 per month. For some it can provide a favorable
alternative to investing the same amount of funds in taxable investments, with benefits
comparable to Canada Savings Bonds. This equity is held in trust and the accrued interest
is applied against operating costs.
Integrity · Service · Stewardship
St. Michaels Villa Inc. is moved by the spirit of non-profit service to the
community. The organization was duly incorporated as a non-profit corporation for the
specific purposes of providing the highest quality accommodation at the lowest possible
cost to Transcona seniors. For this reason, the use of the site for the project has been
provided at a nominal cost.
The organization is closely affiliated with St. Michaels Ukrainian Catholic
Church, a well respected institution of long-standing in the community. St. Michaels
Villa Inc. warmly opens its doors to all seniors to participate in this residence. St.
Michaels Villa Inc. Board of Directors are always very pleased to entertain
inquiries about the project or the life lease concept and with great pleasure will assist
you in securing your suite in this development.
Professional property management services are provided by Murdoch Management Inc.
Preferential Interest Rates
The Provincial Government has provided subsidy to the project through preferential interest
rates 2% under market. Ten percent of the total capital costs are forgivable at
the end of the mortgage amortization period ($450,000). Due to this program, rents
can be as much as
30% lower than those in another building of the quality.
Choice · Elegance · Mobility
St. Michaels Villa is comprised of elegant well appointed suite designs to better
serve the needs of todays upwardly mobile seniors. One bedroom suites of over
square feet and a variety of two bedroom plans starting at approximately 860 square feet are
designed with balconies, appliances, and storage to ensure the satisfaction of individual
Attractiveness · Richness ·
St. Michaels Villa bestows upon its members the richness of interaction and
vitality along with the tranquility of privacy. A games room, craft room, library,
solarium, kitchen and multipurpose room proposed for the main floor provide counterpoint
to the smaller more intimate lounges found on each residential floor overlooking the well
kept neighborhood. On site parking is available to those who desire an automobile close at