Swan helps seniors live in comfort
Investors snap up Evergreen Village apartment units
Swan Evergreen Village is an opportunity for Albertans to invest in seniors housing, offering an affordable, comfortable place for seniors to live, say the people behind Swan Evergreen Village.
“If you want to invest in assisted living, this is one of the few ways to own the real estate,” says Richard Li, president of Swan Development Group.
Swan Evergreen Village is a fourstorey, purpose-built seniors assisted living complex in the city’s southwest community of Evergreen.
Investors buy units in the building, holding title of the real estate, and then units are managed as rentals through Origin Active Lifestyle Communities, a company with a track record in Calgary and other cities in Canada.
This is Swan Development Group’s third assisted living project in the city, says Mike Butt, the company’s general manager. The first project was constructed in Valley Ridge a decade ago in northwest Calgary. The second project was Whitehorn Village Retirement Community on 52nd Street N.E.
The first phase of Swan Evergreen Village consists of a U-shaped building with 135 units. Phase 2 will add another wing onto the building, with another 88 units.
The units will include a range of sizes and floor plans, including studio, one-bedroom and two-bedroom homes.
Prices start at $215,000, plus GST. Construction is underway and possessions are expected in late 2015.
The first phase of Swan Evergreen Village is 95 per cent sold, many units to those already familiar with Swan Group’s earlier projects.
“A lot of these investors came from the pool of investors in Whitehorn,” says Li.
This third development reflects architectural changes bases on the experiences of residents in the first two projects.
“We’ve beefed it up for the modern lifestyle,” says Li.
There is more common space that can be used for socializing, movies and exercise classes, says Liu. There is more spare space that can be used by Origin as it sees needs from its residents.
The nature of this investment may appeal to those who wish to own real estate as an investment but don’t want to manage tenants or deal with the ongoing physical upkeep of the space, says Vincent Liu, director of development.
“This is really maintenance-free,” he says.
Residents will enjoy meals in the dining room, the ability to make snacks in their rooms, have a drink with friends in the lounge, and enjoy organized social activities. Swan Evergreen Village allows seniors to stay close to family or a part of the city they have lived, all while having access to medical supervision.
“When you’re trying to find a place where Mom and Dad need to go, this is a safe place where the family can feel comfortable knowing they are be- ing cared for,” says Butt.
For those who are independent, the location at 2635 Eversyde Ave. S.W. is within walking distance of shopping and services, as well as on transit. There is also a secure memory wing for residents with dementia.
For information on Swan Evergreen Village, call Dianne Brown of Re/Max Land and Real Estate at 403-256-3888.
You can also send her an email at [email protected]annebrown.ca.
From left, the Swan Group’s senior site supervisor Dennis Lechler, director of developments Vincent Liu, president Richard Li and general manager Mike Butt recently gathered at the Swan Evergreen Village site where work has begun on a new building for...
An artist’s rendering of the exterior of Swan Evergreen Village.