Everything of Value Starts with Place
Located within the vicinity of Oliver Paipoonge, just outside of Thunder Bay, is Pennock Village.
Pennock Village is a special place. A place founded upon caring community. A place governed under Christian principles, serving as a gentle guide in moral leadership. A place which ensures your needs are genuinely met. A place situated on protected green space, offering owners the opportunity to enjoy nature to its fullest, year-round. A place which guarantees unique lifestyle alternatives for the seniors of our region.
We invite you to explore this place with us – a true quality-of-life experience. We welcome you to Pennock Village.
More Than A Home – A Community!
The houses built within Pennock Village are not just houses – they are homes. Built with purposeful intention, they are designed to meet the needs of those who are 55+ – maintenance-free within a semi-rural surrounding.
Our homes include modern amenities, spacious layout concepts and many convenient features. They are large enough to host family & friends, yet cozy enough to ensure manageable living. You will be pleasantly surprised with the functionality and comfort that both our Garden Homes and Villas offer.
Garden Home Duplexes
Villa Townhomes
Assisted Living Cottage
Join Our Priority Waitlist
Secure your retirement at Pennock Village! We offer exceptional priority spots that come with exciting opportunities, for those ready to commit.
Frequently Asked Questions
Transitioning into retirement involves many decisions. We offer a unique and worry-free approach for when you’re ready to begin that journey.
What is Life Lease Housing?
Life Lease Housing is a form of real estate tenure geared towards mature adults and seniors, generally 55+. Residents purchase an exclusive interest in a home and can occupy the home for life.
There are an estimated 150 Life Lease projects in Ontario, representing well over 10,000 residential units/homes, with many more throughout Canada. The Life Lease agreement used here in Thunder Bay at N.W.O. Rural Christian Seniors Village Inc. (NWORCSV), or commonly referred to as the “Sponsor”’, is based on fixed market price and has no termination date. This means that, upon death or a change in life circumstances requiring a move, the interest will be sold back to NWORCSV, as outlined in the Life Lease Agreement.
What is a Fixed Market Price Life Lease?
With the purchase of a unit, the Resident can have confidence in their investment and know exactly what they will receive when their Life Lease is terminated. The selling price of their Life Lease unit is predetermined and outlined in the Life Lease Agreement the day they buy their unit. After a notice period, they will receive their original purchase price back, less a refurbishment and a transfer/marketing fee. This is also outlined in the purchase agreement.
The Sponsor (NWORCSV) buys the Life Lease back, which eliminates realtor fees and any required updates or maintenance, so that it becomes a hassle-free sale.
What are the benefits of Life Lease Housing?
The largest benefit is that the Resident retains the equity in their home/unit, unlike typical retirement communities where a monthly rent fee is paid without the opportunity to preserve equity. This structure also ensures that the community will remain age-exclusive for 55+ residents. The Resident will be able to enjoy a maintenance-free lifestyle, including worry-free travel at their convenience, without the additional responsibilities associated in maintaining a family home.
Founding Sponsors
Join us in creating a community, for our community! Donate today, or consider supporting our generous sponsors:
Our Two Cents
We’re a growing community! Subscribe to our e-newsletter to receive regular updates and join in on our exciting progression.