New residents are starting to move into Corbet Place — a $6.5 million dollar life-lease development on Owen Sound’s West Side.
ReMax Broker Marylon Hall says residents would have moved in earlier but the elevator company hired went on strike for over two months.
Hall says they should have all first floor residents moved in this week.
She expects the other floors to be occupied before Christmas.
Corbet Place is for people 55 or older — and it’s right across from the Harbour, beside Shoppers Drug Mart, in downtown Owen Sound.
It will be operated and managed by the non profit group ‘Lutheran Social Services.’
Hall says it means a management fee instead of pricey condo fees.
It also means there’s no condo board.
Hall says Lutheran Social Services originally proposed the development to bring new affordable downtown living accommodations to the area.
She says they have been a pleasure to work with.
Hall’s work isn’t quite done yet with five units still for sale.
She says its been relatively easy to sell units at Corbet Place.
One thing she’s noticed is that the term ‘life-lease’ is often misinterpreted.
Hall says it basically means “the right to occupy” and people can sell the units whenever they want.
