Piroli Development Group understands that aging Canadians want to live their Golden Years to the fullest—and have created a retirement community and option suited perfectly towards that.
No longer are retirement communities a place where people go gentle into that good night. Today’s baby boomers—the cohort born in the two decades after the Second World War and who make up 27 per cent of the population—want to enjoy their Golden Years, and, according to Statistics Canada, have the financial and physical health to pack their last decades full of activity.
This has set the stage for an emerging trend of boomers selling their home and looking for rental properties. Many boomers are in a category where their children are grown up, and they don’t need the large family home in a way they once did. By selling their home and choosing to rent, boomers are unlocking the equity in their home that they have worked so hard for, and putting it towards a retirement lifestyle. Renting has many benefits besides unlocking equity; renting means repairs and maintenance are taken care of, and travel is easier.
When Piroli Development Group broke ground on their Seacliff manor in Leamington, ON they had catering to the Canadians 55 years and older in mind. Piroli’s luxury retirement buildings offer the convenience and luxury for aging in place, with options for independent supportive living, assisted living, and a memory care program. By having an escalating suite of services at your finger tips, there is a freedom built into a vibrant community and a comfort of knowing assistance is there should you need it.
The Piroli Development Group brings a wealth of development experience to its latest endeavour. With deep roots in the Southwestern Ontario development industry, the company has a resume that dates back to 1992, growing from a residential construction company to a multi-faceted commercial with many high-profile projects.
Rob Piroli of Piroli Development Group spoke to Business Elite Canada about their latest project. “It has garnered a ton of interest from people looking to downsize their expenses but upgrade their lifestyle,” he says. Piorli says the Leamington area is a huge draw because of its proximity to three major airports, Lake Erie, wineries, golf courses, and lower cost of living than the Greater Toronto Area (GTA).
“In Canada, there are 9 million people who are on the verge of retiring,” says Piroli, “and this is exactly what they are looking for; ease of living, and disposable income. We are seeing people selling their home in the GTA and are moving down to Southwestern Ontario. They don’t want anything holding them back.”
The math bears out. If the average house in the GTA sells for $1 million, and then pays 3 per cent of the home’s value toward taxes, insurance, utilities and maintenance, that means they would pay $30,000 a year to start aging in place. “The simplicity is you can retire here and pay $24,000 to $30,000 a year on rent, and then enjoy discretionary money. It’s hard to do that in many other areas in the world.”
Opening in Fall, 2017, Piroli has created a model apartment where visitors can see for themselves the luxury hardware, solid wood floors, spacious master bedroom with an en suite, fire place, and granite countertops, to name a few.
With the aging in place concept, should the need arise, residents can easily to the close-by retirement homes, again with luxury finishes, landscaping, and state-of-the-art facilities. “It’s all about having everything in place to support tenants to age comfortably and safely in their own home, while enjoying the fruits of their labor amongst peers,” says Piroli.
Piroli Development Group will expand on its presence in Leamington, and seek out similar opportunities in the Windsor, ON region, says Piroli. Currently, Seacliff Heights—the first new rental apartment built in Leamington in almost 30 years—is in its first phase is complete and 99 per cent rented. Seacliff Heights II will build on the success of it predecessor, offering an even grander suite of luxury options. Piroli’s contributions to the development and economy in Leamington earned the company a Business Excellence Award from the Leamington Chamber of Commerce
“We are focused on expanding into the retirement home industry,” says Piroli. “The market demand is there, while looking at future growth patterns in other markets as well.” Piroli says fulfilling a market need is a great source of pride and professional satisfaction. “Taking an idea through the feasibility study to construction and then the renting stage is very exciting,” he says. “Proving what a feasibility shows, putting it to work and making it happen is a source of pride only matched by seeing a beautiful building in the community and happy tenants.”