Riverbend Road, Jack Nash Drive, Somerville Drive, Somerville Ln, Ed Ervasti Ln
Riverbend Road, Jack Nash Drive, Somerville Drive, Somerville Ln, Ed Ervasti Ln
Units 450+ upon completion
Built 2002-present
PricingN/A
* These are land lease condos.
Amenities
Details:
"Riverbend" is a gated community for people 50-plus. Built on 400 acres of gently rolling hills with 100 acres of Carolinian Forests. Sifton-built; visit their website. Enjoy golf and a 28,000 square-foot clubhouse with fitness facilities and a pool. Life doesn't get much better than this! All visitors must sign in.
The concept with this development is that unit owners "lease" the land these properties are sitting on, thus making the initial purchasing price more affordable. Sifton works on numerous projects simultaneously. This one is a bit different in that work here started over twenty years ago.
Owners frequently use the services of the “MLS” system to sell their units in this golfing community. Prices vary and the brand new units on streets like Sandy Somerville Lane and Ed Ervasti Lane can now top one million dollars. Monthly maintenance fees in 2023 are in the $543 monthly range. What’s interesting about the land lease fees is that they are for designated periods of time. Units enjoying older land lease agreements may be paing as little as $317 or $643 per month while others are paying amounts like $880, $927 and $1069 per month. Given the amenities offered many people find this arrangement quite reasonable.
For an interesting profile on part of the Sifton home building story, watch the You Tube Video called "The History of Berkshire Village".
What might compare to this complex? Well, just north of Owen Sound, about 225 km away from London, Ontario is Georgian Bay’s extraordinary waterfront golf resort community called ‘Cobble Beach”. “Cobble Beach” or “Riverbend’? You decide, both are wonderful.
Property Manager
Sifton