United Way's not-for-profit housing corporation has taken over the Perth Meadows facility in Listowel.
United Housing is now assuming management of the residence’s operations. North Perth staff will be assisting with the transition as United Housing remains committed to "continuing to support the existing Perth Adult Life Care Residence as an affordable 55+ community and seek ways to build connections and ensure transparency," according to a joint press release from United Housing and the Municipality of North Perth.
Perth Meadows was originally operated by the non-profit Perth Adult Life Care Residence. The facility is a financially self-supporting adult lifestyle community offering one and two-bedroom suites and two-bedroom townhomes, available through an Equity Life Lease plan.
An Equity Life Lease Plan entails purchasing a right to occupancy of the unit and a pre-set redemption value. The Life Lease model helps ensure the price of units is well below market compared with other tenure types such as condominiums.
"We are excited to acquire Perth Meadows and ensure it will be kept as a not-for-profit entity in perpetuity as originally intended by its founders," said UWPH and UH Executive Director, Ryan Erb. "United Housing was created to not only develop new units but ensure existing units remain affordable and attainable. We’re deeply invested in working with the Municipality to ensure the success of this undertaking."
"Perth Meadows has always been rooted in community, and this transition reflects that original vision. The Municipality has been working since 2014 to find the right partner to operate Perth Meadows, one that understands the importance of the project to the community and its residents," said North Perth CAO, Kriss Snell. "We are pleased to see the facility join United Housing; a trusted partner committed to supporting seniors in North Perth. Their leadership ensures long-term stability and affordability for current and future residents, while continuing the strong sense of home and community that Perth Meadows is known for."
