Life Lease is an equity preservation model whereby adults over the age of 55 purchase the right to occupy a Garden Villa (townhome) or Atrium Suite (condominium). Our Life Lease complex, is comprised of a five-story building with 154 Atrium Suites and 72 Garden Villa townhomes located throughout the campus. 

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Couple in a life lease at Luther Village on the Park smiling at each other.

Atrium Suites & Garden Villas

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Residents find Life Lease housing attractive because of the adult lifestyle, the sense of community, access to countless amenities and ability to be involved in the capital appreciation. 

Our 154 classically designed and fully renovated Atrium Suites feature a variety of suite plans with a mix of terraces, balconies, and sunrooms. Special considerations include extra-wide corridors, spacious suite entrances, large updated kitchens and bathrooms and many other features that show attention to detail in both elegance and convenience.  

Our 72 spacious and fully renovated Garden Villa townhomes feature a variety of floor plans with two and three bedroom options, accessible bungalow style living, with private patios, attached private single car garage, & updated kitchens.

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Guaranteed Buy-Back


Maintaining capital is important as we age, since personal needs may change unexpectedly, and the real estate market can be unpredictable. Our Village guarantees to buy-back your home within nine months of providing a notice to vacate. All refurbishing and marketing of the unit is coordinated by our team, making this option a care-free experience that brings peace of mind to both residents and their families.

 

Life Lease Occupancy Fees


Residents pay an occupancy fee to cover the costs of maintenance, property tax, insurance, management, lifestyle services and contribute to a reserve fund to cover capital replacements and major repairs. 

 

Equity Preservation


Upon re-sale, the resident is entitled to a sum of money equal to the original purchase price plus one-half of the appreciation or depreciation. When a resident wishes to sell their Life Lease interest, they receive the market value less fees owed. It is the “market” that determines what the Life Lease interest is worth. As the market value of local real estate increases, so does the value of the Life Lease interest. Life Lease generally follows similar trends. 

 

 

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Residents doing yoga at Luther Village on the Park

Opportunities within this Lifestyle


Our goal is to enrich the lives of our residents by building meaningful relationships, fostering growth opportunities and encouraging personal choice in an inclusive environment. This holistic approach is achieved by focusing on all dimensions of wellness.

 

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Intellectual

Educational courses, two
on-site libraries, TED Talks, memoir writing group, art classes, card games, and book clubs

Health
Physical

Registered Kinesiologist offering one-on-one support, yoga, daily fitness, large indoor/outdoor walking space, fitness centre, and swirlpool

Environment
Environmental

20 acres of green space, 50+ community garden plots, summer market, all-season greenhouse, on-site green bin and recycling services, and EV charging stations

Emotional
Emotional

A culture that fosters learning, growth, and belonging, including support groups, peer check-ins, guided mindfulness, and pet friendly living

Social
Social

Coffee and social hours, live concerts, movies, off-campus outings, billiards, a variety of games, and outdoor activities including bocce ball, shuffleboard, and horseshoes

Spiritual
Spiritual

Two-storey chapel, visiting church services, weekly worship, hymn sings, and coordination of diverse spiritual supports

vocational
Vocational

Woodworking shop, travelogues, resident-run committees and programs including writing, knitting, crafts, and resident volunteer opportunities

Nutrition
Nutritional

Optional meal plans and themed dinners, cafés with specialty coffees, and homemade soups and sandwiches served daily

Explore Our Atrium Suites & Garden Villas Upcoming Opportunities

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