Life lease offers peace of mind to seniors Life lease offers peace of mind to seniors

The Star Phoenix,  May 28, 2015 -

It's time to sell your oversized family home and opt for the suite life. If you thought your choices were limited to renting or buying an apartment-style condominium, think again! Consider a third option: a life lease.

"With a 'life lease,' you own the lease, but not the property. In a sense, it's like paying an entrance fee in exchange for a low monthly rent in a building you'd like to reside in, such as Hyde Park View," says Greg Foley, executive director of Elim Lodge.

Hyde Park View is Elim Lodge's newest 50-plus adults' residence, now under construction at 333 Slimmon Place, in the Lakewood Suburban Center just north of Rosewood. The Christian-based charitable organization has pro