Lindenholm Place: The best 55+ Building in Winnipeg?

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Lindenholm Place at 885 Wilkes: Possibly the best 55+ community in ?

With populations getting older, demand for so-called “55+ communities” is on the rise.  There are a few of these types of buildings, which restrict occupancy to only those of a certain age (either 50+ or 55+).  Here is a look at one of the best of these, Lindenholm Place at 885 Wilkes Ave.

Lindenholm Place: The best 55+ Building in Winnipeg?Leasehold

The units in this building are actually “Leasehold”  which is different than condo-ownership.  Buyers purchase the right to lease the unit, and do not receive the usual ‘Title of Ownership”, as they would with a condo or a house.  As such, the sale is governed by the rules of the Land Lease Act, which grants purchasers the right to re-consider their purchase for 7 days, which is now the same time period as granted to condo buyers.   One of the benefits is that there are no property taxes for the individual owners to pay, as is the case with condominiums.

The down-side is that a buyer can not get a traditional mortgage for this purchase.  The buyer must have the funds to make the purchase outright.

Restrictions

Just as any condo might have restrictions, Lindenholm Place is a strict 55+ building.  Additional restrictions include ‘No Pets Allowed”, as well as “No Smoking” anywhere in the building, including inside the suites.

Amenities at Lindenholm Place

Lindenholm Place: The best 55+ Building in Winnipeg?Here is there this community shines:  The building, which is all concrete, and built in 1989, features an indoor pool and solarium area.  There is a hot tub and sauna room and beautiful sitting area, facing south.  There is a large ‘party-room’ with , library, fireplace and television.  This is where residents get together for card games, pot luck dinners and other social events.  Suites, which range in size from about 750 sq feet up to over 1200 sq feet,  feature insuite laundry, central air conditioning and large balconies.  South-facing suites are nice and bright, and north-facing suites offer an exceptional view of the lake and grounds.  There is a garden area which residents can tend, greenery for walking, or relaxing.

Shuttle Service and Parking

There is a free shuttle to local grocery stores a couple of times a week for those who dont drive.  For residents who still drive their own vehicle, there is plenty of parking.  Many units include an underground parking spot, and the remainder come with an outdoor spot with plugin.

Security

This is a very secure building, with on-site caretaker, security door with intercom and other features.

Monthly Fees:

Monthly fees (which are normally referred to as condo-fees) range from around $500-750, depending on the unit size.  As mentioned above, there are no property taxes on top of that, which is a bonus.  The fees DO include cablevision (both MTS and SHAW are in the building), as well as water, management fees, parking and amenities.  Residents do pay for their own Hydro (lights and heat), which may range in the $40 to $60 per month, depending on location and temperature setting.

 

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