The Village by the Arboretum is a land lease community. The property is owned and retained by the University of Guelph, a secure, long-term partner. The 99-year head lease ensures the longevity & stability of the Village, and leasehold ownership allows a lower cost of entry for buyers. It also allows residents to retain the full proceeds from the future sale of their homes.
The Village by the Arboretum lands are owned by the University of Guelph. Reid’s Heritage Homes Ltd. has a head lease with the University to develop these lands as an Adult Lifestyle Community. Should anything happen with the relationship with Reid’s Heritage Homes, the University of Guelph would step right in. The University would have to abide by all legal agreements including the land lease agreement. These agreements are binding on heirs and assigns, thus the continuity of the planned Adult Lifestyle Community is guaranteed.
With the developer responsible for the creation and maintenance of the community, the quality care of the Village is maintained. The interests of the whole community are always the main consideration, thereby enhancing everyone’s investment. Reid’s Heritage Homes Ltd. has full-time groundskeepers, as well as maintenance staff. With no sub-contracting of work, the Village maintains the highest quality standard, while keeping maintenance costs to a minimum.
Home Value Protection
The land lease also protects the standards set for the appearance of the community and the maintenance and availability of our extensive recreation facilities. This protection extends beyond the completion of house sales in the community. Reid’s Heritage Homes assumes the legal responsibilities of proper maintenance of the grounds and recreation facilities and efficient administration. The original quality standards of the purchase are guaranteed so that the community and home values remain high.