Bedford Meridian – Life Equity Living
Important Update – September 13, 2013
It is with regret that we inform you that Northwood has decided to step back from the Meridian project and take another look at options for our land in West Bedford. This means that we will not be building a Life Lease project in Bedford at this time. All deposits have been returned to Buyers.
This decision was not made lightly. Northwood believes in the Life Lease concept and, over the past year and a half, generally received a positive response from individuals enquiring about the project. Unfortunately, it was a new idea that, while embraced by many in the Maritimes, will take some time and a strong real estate market to implement. We feel that the timing may have been wrong and, with a weakening real estate market, sales have slowed after a good start. With costs continuing to rise, our ability to offer competitive pricing becomes more difficult.
As with any not-for-profit organization, Northwood cannot take the same risks as private operations. Our resources are limited. Northwood has always enjoyed a solid reputation in the community. Our strength is our commitment to innovation and to the people we serve. With a growing population of seniors, Life Lease was an option we wanted to present to Nova Scotians as an alternative to existing arrangements. We will continue to work with the community to explore new programs and services that respond to ongoing needs of an aging society.
We ask for your understanding and hope that you will continue to support Northwood as we move forward. We will be announcing new plans for the site in the near future and look forward to sharing the details with you at that time.
If you want to know more about Northwood and its family of services designed to support those living in the community, contact John Verlinden at 454-3377.