The Lions Seniors Manor non-profit housing cooperative committee held a meeting Sept. 24 to update stakeholders and interested parties on the development’s progress and to promote the facility’s services to the general public.
Construction of the facility is estimated to begin in the spring of 2017, with a tentative move-in date of July 1, 2018. Committee member Penny Byer notes that the co-op is awaiting the finalization of paperwork with financiers before a firm construction date can be announced.
For now, eligible residents (those whose combined annual household income is below $52,253) interested in securing a space in the manor will do so through the purchase of shares: 60 for a one-bedroom apartment, and 70 for a two-bedroom apartment, at a cost of $1,000 a share. Reserving a unit requires a $500 deposit, with an additional $4,500 due at the beginning of construction.
“We have deposits on a third of the units already, with considerable interest for others; some are just waiting for the construction date to be announced.” Regardless of the final number of units reserved prior to construction, Byer notes that construction will be going ahead as planned, with remaining funds covered by a guaranteed loan.
Shares in the co-op will be supplemented by stable monthly maintenance fees, covering water and electrical utilities, property taxes as well as activities such as building repairs, groundskeeping (including snow removal), and other regular care and maintenance. Units will be furnished with laundry appliances, as well as a kitchen equipped with a stove. Tenants will be responsible for their own Internet, television and telephone connections.
Byer notes that the rates are designed to be stable and to meet Manitoba Housing affordability standards, which currently defines affordable housing as a monthly rental rate of $731, utilities included. While rates are subject to change when necessary, she notes that the co-op structure assures residents remain in control. “The beauty of a co-op is because tenants are owners, they have a direct say. Any time the province is prepared to raise rent, the co-op membership would attend a meeting, and they would vote on whether to accept that rate.”
If units remain unfilled by the time that the facility opens, residents will have the opportunity to rent suites at market value on a month-to-month basis. However, Byer notes that this is only a temporary solution, and tenants must be prepared to evict on short notice once an intent to purchase the suite has been received.
Some details remain to be seen, such as the inclusion of smoking or pet-friendly units.
