The Life Lease concept has been used successfully on many similar projects throughout the Province. Life Leases has a proven record of success. The Manitoba Government has implemented the Life Leases Act and Regulations which will apply to all new Life Lease projects.

A tenant in a life lease does not own their unit. A tenant purchases the right to ‘occupy’ that particular space and a 100% refundable Entry Fee is required to secure a Unit.

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First, it should be noted that both the terms “Condominium” and “Life Lease” describe the financial vehicle whereby a resident occupies a living space such as a bungalow, two story, apartment style, town home, etc. etc.

Neither the “Condominium” or “Life Lease” financial structures are superior to the other. Both have advantages and disadvantages, depending on your life’s circumstances.

Both are similar in that they allow for relatively carefree occupancy, and allow you to simply “lock the door” and go away for awhile, and not worry about your premises.

They’re different in that ownership of a condominium means you own your suite and a share of the common area used by everyone.

As a condo owner you will have voting rights in the corporation, and you may choose to be elected to the board. You actually own real estate which can rise or fall in value depending on current markets.

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The “owner” or occupant of a life lease does not own their living space or the common areas, but in fact own the Life Lease. This lease is assignable and can be past on to someone or sold on MLS or back to the developers.

A couple of tenant representatives may attend, and be an influence at board meetings, but the board has final decision making authority.

In fact the tenants of a life lease may not be members of the board. A life lease residents exposure to the volatile real estate market is minimized, although not completely eliminated.

A refund fund facilitates a full refund of the resident’s entrance fee should they decide to move out.

Beneficiaries of your estate usually find the life lease model very easy to deal with.

With 90 days notice, they simply assign the unit to the board (owner) and 100% of the entrance fee is refunded.

A typical life lease resident is 55+, prefers to live with people that share a similar interest, enjoys having many amenities in the building, and no longer cares for the real estate equity risk that home ownership would entail.

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47 on First life lease units all have two bedrooms, 2 bathrooms, lakeview balcony and in-suite laundry.

Each Unit is 1140 sq ft with a 60 sq ft private balcony. They all come with major appliances:
fridge, stove, dishwasher, microwave, washer and dryer.

We wholeheartedly understand that pets are cherished members of your family and after much consideration we're thrilled to welcome them into our vibrant community.

Our pet-friendly policy allows for up to two pets per unit, offering you the flexibility to have a combination of cats and/or dogs.

We celebrate responsible pet ownership and the joy your pets bring to our community. During our pet interview process, we'll warmly get to know your furry friend to ensure a perfect fit.

To maintain a harmonious environment, we have certain guidelines in place. Dogs should be no taller than 56 cm (22") at the shoulder to be approved.

In addition to breed restrictions in some local by-laws, the following purebreds or mixed breeds are not permitted: German Shepherds, Pit Bulls, Staffordshire Terriers, Doberman Pinschers, Rottweilers, Chow Chows, Presa Canarios, and Boxers.

Join us at 47 on First, where your pets are not just welcome – they're a cherished part of our extended family!