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LIFE LEASE tenants will benefit from:

    

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Not-For-Profit Operating for the life of the project.

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Lower borrowing rates via Bulk Mortgage Financing and,

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Through the INCOME TAX EXEMPT status of the Non Profit Corporation.

 

 

A Seniors Life Lease Project. Developed by ACORN   Managed by MURDOCH

A wide variety of suite layouts are offered at the Villa Beliveau. Design drawings for 1, 2, and 3 bedroom suite plans are included in the Project brochure.

The building offers many standard features such as:

bulletMirrored bedroom and Entrance Foyer closet doors.
bulletContemporary white wood door frames and base boards complete with decorative corner moldings.
bulletBrass -finish hardware and brass and glass lighting fixtures.
bulletEasy access lever style door handles.
bulletGenerous cupboard, closet and en-suite storage space throughout (in addition to common storage for seasonal items in the building).
bulletGlazed pocket French doors to den.
bulletFrost free fridge and easy clean stove.
bulletDouble stainless steel kitchen sink.

In addition, a generous array of custom changes and or additions have been accommodated by many of the initial life lease tenants such as:

bulletOak kitchen and bathroom cabinets.
bulletOak doors and trim.
bulletCustom kitchen features.
bulletJacuzzi tubs.
bulletCentral vacuum.
bulletCustom flooring.

VILLA BELIVEAU For those 55 years and better

Thank you for your interest in the VILLA BELIVEAU, a new Not-For-Profit LIFE LEASE Housing Project for those 55 or better.

The Project has been developed on a suburban site, conveniently located in the quiet established residential neighbourhood of Southdale, Winnipeg.

The site is bounded by Beaverhill Blvd. to the East and Cherwell Bay to the South. The site is immediately South of the recreational park operated by the Southdale Community Centre.

In combination with the "larger than required site area", the surrounding "low rise single family houses" and the "orientation of our building", the Project provides an abundance of daylight to all suites.

The Villa Beliveau Not-For-Profit Life Lease Project provides the benefits of renting with the privileges of ownership. The Life Lease concept is explained in detail later in this brochure.

(All costs presented in this brochure include the G.S.T. There are no real estate broker fees associated with the sale of these Life Leases.)

THE SPONSOR

The VILLA BELIVEAU Inc., is sponsored by the Knights Of Columbus (Council # 6885). The Knights of Columbus organization is one of the largest sponsors of not-for-profit housing in Manitoba and demonstrates particular attention to meeting the needs of the community on a charitable basis.

 

belopeni.gif (34537 bytes) The VILLA BELIVEAU INC. is a Not-For-Profit housing Corporation set up specifically to develop and operate this Project on a Not-For-Profit basis, in accordance with the Laws of Manitoba.

The Board of Directors of the Corporation serves in a philanthropic nature for the life of the Project. Directors receive no financial income, nor gain in any way from their position. The Board's role is to oversee the direction, general management and policies of the corporation.

PROJECT AND PROGRAMME

VILLA BELIVEAU provides the benefits of Not-For Profit Life Lease housing to the 55 and better community.

Residents do not purchase the suite as in a condominium. Instead, residents purchase a Life Lease.

Flexibility is achieved thus: at any time after occupancy the Life Lease may be terminated by the resident with 90 days notice. The resident is not required to find the next buyer of the suite. Resale of suites is the responsibility of the Villa.

The amount required to purchase the Life Lease is referred to as the Entrance Fee. Upon termination of the Life Lease, Entrance Fees are refunded in full (in accordance with the conditions outlined in the Life Lease agreement).

Any income generated by money invested in the Life Lease Project is used to reduce the residents' monthly operating costs.

The Life Lease Model (originally designed by the Government of Manitoba) provides quality and affordable, market-style accommodation managed for the life of the project on a Not-For-Profit basis.

ARCHITECTURAL PROGRAMME

Constructed to the highest standards, the building plans offer 33 fully appointed one, two and three bedroom suites in a variety of sizes and designs. All two and three bedroom layouts come with two 3 piece washrooms and walk in master bedroom closets as standard amenities.

An extensive area of multi-purpose amenity space has been designed within the building for the use of public as well as private family functions and includes a games room, a large multipurpose room with kitchenette facilities, a workshop/crafts room, a fireside lounge area, and a library/meeting room. These spaces can be reserved by the residents at no cost for larger family gatherings.

In addition to the oversized En Suite storage rooms, a secure common Storage Room is available for storage of seasonal items.

The costs included in this brochure are based upon a building of the Highest Construction Standards.

The building structure is comprised of non-combustible concrete and masonry materials and sprinklered throughout, complete with high quality finishes and high degrees of acoustic privacy.

The Project (including the parking enclosure) is fully serviced by elevator and security access.

The building design provides the very best in fresh air, centrally controlled, Forced Air Heat and Air-Conditioning with individual control of supplementary suite heat.

Hallways are designed to be positively pressurized to eliminate the potential migration of cooking odors into the public spaces of the building.

All suites, hallways and lounges have been equipped with the most modern of automatic smoke and fire detection and alarm equipment.

Costs include, wall-to-wall carpeting in the bedrooms, living rooms and dining areas; with high quality resilient flooring in the kitchen, bathrooms and storage areas to assure ease of maintenance. Options for flooring selections (carpet/ hardwood) were available for first time residents prior to construction completion in order to accommodate individual colour schemes and tastes.

All amenities in the building are accessible to wheelchairs. Bathroom tubs are fitted with grab bars for added safety. An "emergency call system" is included in the design of all suites and public spaces for our resident's current and future convenience (we currently operate a "buddy system").

The grounds of the project have been professionally landscaped to accommodate the needs of our residents. Our landscape was designed to be sensitive to the existing residential flavour of the surrounding neighbourhood and the specific requirements of our residents.

Additional outdoor surface parking for a second vehicle and for guest parking is available at grade level at no additional cost with sufficient power for block heaters and interior car warmers. A limited number of Recreational vehicles can be suitably accommodated on site.

MANAGEMENT STRUCTURE

The Project is owned and operated by VILLA BELIVEAU Inc., a Not-For-Profit housing corporation set in place in accordance with the Laws of Manitoba for this sole purpose.

The Not-for-Profit Corporation administers the financial affairs of the building on a continuous non-profit basis throughout the life of the Project.

A residents' advisory committee plays an active role in the day-to-day operation of the building for such matters as the social and recreational programming and resident concerns.

Residents of the Project participate at Board level by way of duly elected Resident Advisory Committee Members.

The Board is responsible on an ongoing basis to ensure that the highest degree of professional management service is available to the Project at all times.

Lessees of the Villa have the right to financial statements in accordance with the Laws of Manitoba.

The Board serves without remuneration of any sort.

Professional property management services are being provided by Murdoch Management Inc.

FINANCING

The Life Lease model, strictly as a financial investment, works for the tenant by reducing the tenant's monthly operating costs.

The tenant purchases the Life Lease by way of an Entrance Fee. The Entrance Fee is fully refundable upon termination of the Lease.

The tenant is not required to sell the Life Lease upon termination.

The minimum Entrance Fee may be compared to the way a down payment works for a home owner when purchasing a house. The greater the down payment, the less the capital borrowed by way of a mortgage, therefore, the less the monthly debt service or mortgage payment.

A Minimum Entrance Fee is required to pay the proportionate share of the buildings' capital cost.

An amount greater than the minimum amount can be invested in the SECOND SECURITY FUND to further reduce the Life Lease resident's operating costs. Participation in the Second Security Fund is optional.

Participation in the Second Security Fund is limited to a maximum of the actual capital cost of the suite to the Not-For-Profit Housing Corporation.

The Second Security Fund is pooled. Investments made by the Corporation are in guaranteed investments.

All income earned by the Corporation is tax exempt and is used to lower the operating costs (i.e. rent) of the participating Life Lease residents.

The VILLA BELIVEAU Inc. is a duly incorporated Not-For-Profit housing corporation and is INCOME TAX EXEMPT.

100% OF THE ENTRANCE FEES ARE REFUNDABLE

UPON TERMINATION OF THE LEASE

There are NO ADMINISTRATIVE DEDUCTIONS

PROJECT COSTS - (Please call for current details)

In the Villa Beliveau rents include all the operational costs associated with Common Costs, Enclosed Elevatored Parking, Heat, Light, Water, Property Taxes, Debt Service, Regular Building, Grounds and Appliance Maintenance, Building Custodian Services, Project Insurance, Free Laundry, Administration, Property Management, Vacancy/Bad Debt Reserves and Capital Replacement Reserves. The cost of telephone, cable television and insurance for household contents are the responsibility of the tenant.

STANDARD PROJECT FEATURES

bulletPrivate Balconies for all suites.
bulletSecure elevator access parking under the building.
bulletSurface Visitor Parking available.
bulletExtra parking available for residents.
bulletTwo Full Bathrooms in all 2 bedroom and 3 bedroom suite layouts.
bulletMaintenance Free Energy Efficient windows.
bulletLarge, oversized windows throughout suites.
bulletHigh quality standard carpet and finishes.
bulletWood baseboards throughout suites.
bulletMirrored bedroom and entrance hall closet doors.
bulletGlazed pocket French doors in dens.
bulletOpen European style kitchen with bar height counter.
bulletFrost free fridge and easy clean stove.
bulletNo cost optional sliding patio doors in lieu of glazed garden doors to patio or balcony.
bulletDouble stainless steel kitchen sink
bulletPantry style cupboard in all kitchens
bulletBank of drawers in all kitchens
bulletLever style ease of access door handles.
bulletHigh quality lighting fixtures.
bulletAmple Ensuite storage.
bulletEnsuite utility rooms with plumbing/ mechanical/ and electrical systems built in to accommodate Ensuite laundry.
bulletFree common laundry room on main floor.
bulletWorkshop and Common storage space outside suites.
bulletCrafts, games & recreation room.
bulletLibrary and resource/meeting room.
bulletLuxurious multipurpose room for resident activities and private family functions with full kitchen facilities.
bulletExterior main entrance vestibule and canopy with vehicular drop off.
bulletCommon outdoor garden area.
bulletSecurity system at main entry, key access only to other entries. Automatic garage door entry.
bulletEmergency call system for convenience and added safety installed in every bedroom and bathroom in the Project.
bulletProperty management service on call 24 hours/day, 7 days/week.
bulletCentral Gas-fired forced fresh air heat and cooling.
bulletCathedral ceilings in all 3rd floor suites (increases suite value by $1,000.00).
bulletSprinkler system in all suites for maximum fire safety.
bulletPre-wiring alarm system in all suites for maximum security and safety.

OPTIONAL FEATURES (for initial life lease tenants prior to construction)

bulletEn Suite Fire Places
bulletExtra parking available for those with RV's or more than one vehicle.
bulletDifferent options available for carpet and finish choices.
bulletOak hardwood flooring.
bulletPersonal choice of lighting fixtures.
bulletFully glazed and screened balconies.
bulletSupplemental individual cooling if desired.
bulletCentral vacuum system.
bulletEn Suite laundry appliances.
bulletDishwasher/Garburetor appliances.
bulletAdditional Choice of Appliance Features (self clean ovens etc.)
bulletOak kitchen cabinets.
bulletCustom Kitchens.
bulletOak Bathroom Vanities.
bulletJacuzzi style tubs.

Residents have benefited from the Villa's ability to "bulk purchase".

Project Construction Completed August 1998 - 33 suite Life Lease for "Seasoned" Citizens.

VISIT THE VILLA BELIVEAU

At 500 Beaverhill Blvd., in Southdale, Winnipeg MB

 

 

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Revised: January 01, 2002