April 17, 2025 | Pennock Village’s Board Chair, James Collie, makes introductions during one of three information session led by Life Lease expert, Gary Zock.
— Written & submitted by Gary Zock, Life Lease Expert / President of Zock & Associates (1994) Inc.
The April 16th, 2025 Information Meeting held with prospective purchasers and others interested in Pennock Village was a great success! James Collie, Chair of N.W.O. Rural Christian Seniors Village Inc., provided an introduction to the presentation and explained the mandate of this not-for-profit organization in providing an affordable housing option for mature adults and seniors living in Thunder Bay and the surrounding communities. Gary Zock, President of Zock & Associates (1994) Inc., a firm which has assisted with the development of 77 Life Lease communities over its 35-year history, then led the discussion. This presentation included background on the history and structure of Life Lease in Ontario, a slide show of successful Life Lease projects completed by other not-for-profit organizations, and a description of the agreements and purchase plan for Pennock Village. Finally, James updated the approximately 30 attendees on the proposed design of the Phase 1 Garden Homes (Duplexes), including a site plan of the entire campus, proposed unit layouts and the development schedule, which targets the construction start for the first two Garden Homes (four residences) in May of 2025. The participants were engaged and asked many pertinent questions to conclude the presentation.
The Legal Information Session, held on April 17, 2025, was equally successful, with representatives from four local law firms attending this event. While participants enjoyed lunch, James and Gary conducted a similar presentation to the April 16th event, in order to familiarize local law firms with the Life Lease concept and plans for Pennock Village. John Clark, one of the foremost Life Lease legal experts in Canada and author of several papers related to the concept, also joined the presentation remotely to present background on the legal structure and applicable legislation. The goal of this session was to bring local lawyers up-to-speed on the Life Lease concept to enable them to better address questions and advise prospective purchasers/clients on the Life Lease agreements being proposed for Pennock Village.
In general, the two days of meetings and presentations were a tremendous kick-off to Pennock Village.
“Based on the level of interest, input received, limited choice in local housing for seniors, and my 35 plus years of experience with Life Lease communities, I have no doubt that Pennock Village will be a success in Thunder Bay. All Life Lease projects that I have been involved with have had a “project champion” – someone who is committed to the endeavor and has a true concern and passion for providing safe, secure and affordable housing for mature adults and seniors in their community. James Collie has this commitment, is extremely competent, and has extensive expertise in project construction and development. He has already effectively dealt with most of the challenges, obstacles, approvals, etc. necessary to start construction of the first phase of Pennock Village. James has also surrounded himself with an excellent and knowledgeable group of other volunteers, which form the not-for-profit Board of N.W.O. Rural Christian Seniors Village Inc. These key community leaders also met on April 16th to discuss the Life Lease concept and development process for Pennock Village, to ensure a comprehensive understanding of the Life Lease model and objectives. This dedicated group of volunteers and their leadership in the community will give prospective purchasers confidence in committing to a Life Lease Garden Home or Villa (Townhouse) at Pennock Village. The final challenge will be the commitment of the first group of purchasers to get the project underway – once local mature adults and seniors can see the quality and design of the end product, the balance of units will flow quickly. I await the ribbon cutting for Pennock Village!” commented Gary.
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Note: The Board of Directors would like to express their gratitude to Gary for his instrumental assistance in Life Lease expertise, throughout the beginning development stages of Pennock Village. More information on Gary can be found here.