To celebrate its 60^th Anniversary year, Global Kingdom Ministries (GKM) is sponsoring Trinity Ravine Towers, an innovative market-value Life Lease community where 55-plus residents can enjoy a fulfilling lifestyle as they age  gracefully in faith-based surroundings.

Like its predecessors in Europe, the United States and elsewhere in Ontario, Trinity Ravine Towers offers the opportunity to obtain a Life Lease interest in an amenity-rich community where maintenance, repair and upkeep of common areas are handled through a monthly occupancy fee.

Taking the concept a step further, this program involves no termination date.  Residents can sell or transfer their Life Lease interest at any time at a price they establish. Upon death, the Life Lease interest can pass to a resident’s family, who may choose to keep the suite or sell it at market value.

“Our program is refreshingly different from most Life Lease arrangements,” said GKM administrator and ambassador Wendy Smart.

“Typically, when the resident dies, the interest is released again.  Here, there is an ownership element. Residents can keep their interest as long as they want to, in perpetuity. In addition, buyers can register a Notice of Agreement on title to the property with the Land Registry Office, similar to registering a deed on title to a house or condominium. This formal acknowledgement protects their investment. Even more important, purchasers buy into an exceptional lifestyle based on community togetherness.”

To keep that lifestyle harmonious, the 55 years of age or older qualification applies. Caregivers under 55 but older than 18 can live in the suite, but at least one resident must be 55+. Trinity Ravine Towers has incorporated many provisions outlined under the Condominium Act into its Life Lease Occupancy agreement, as well as the best practices outlined in the Life Lease Resource Guide published by the Ontario Ministry of Municipal Affairs and Housing. The groundbreaking Life Lease Occupancy Agreement for Trinity Ravine Towers is now being used by most of similar projects in Ontario.

Trinity Ravine Towers is situated on GKM’s 11-acre property at 1250 Markham Road, across from the existing church and community centre. Residents will enjoy many of the benefits of low-rise living, including earning a return similar to the equity growth in their home or condominium, while enjoying the convenience of condominium-style living – all in a community designed to meet their changing needs.

For a more detailed explanation of the Life Lease interest program,  visit www.TrinityRavine.ca.