Construction of a new housing complex geared toward the 50-plus market is underway on Brandon’s North Hill.
Falcon Ridge, a project of Bridge Road Developments Ltd., will be located at 2100 Bell Ave. in the new subdivision off 18th Street.
"All your amenities are in there. They have wide hallways, they’re geared for senior living ... obviously elevators," said Ray Brownlee, managing partner with Century 21 Westman.com. "There’s going to be a gorgeous enclosed solarium on the west side."
The three-storey building will include 24 units, featuring private balconies, indoor heated garage and a common room equipped with a kitchen and lounge area.
Brownlee said the complex is being marketed as "not a condo, not a life lease, it’s the best of both."
With Falcon Ridge, tenants will sign a one-year lease and are required to pay a $55,000 deposit. They will receive three per cent interest on that deposit.
Monthly rent will range from $1,700 to $1,950, depending on the size of the unit. The two-bedroom suites range from 1,060 square feet to 1,535 square feet.
"It’s just a very popular concept because it opens up opportunities for retirees to not have to invest all of the money from their homes, they can take just a small portion of the equity they get from the sale of their home and enjoy it," Brownlee said.
This will be the first project in Brandon by Bridge Road Developments, however the company has a number of developments in Manitoba and Saskatchewan. The latest finished projects include an adult living complex in Headingley and Moosomin, Sask.
Brownlee said interest for the Brandon project has been strong, with nearly half of the units already spoken for.
Construction is expected to take a year to complete.
For more information, contact Tracie Randall at 204-720-8886 or visit bridgeroad.ca.