We are a team of volunteers which aims to provide a Senior’s Home facility to mostly retired Muslims at an affordable cost, at a good location and within minimum time frame. Currently a lot of condo projects have gone into insolvency and we are focusing on acquiring one such project, which is pending completion. Due to current market slump in the GTA condo market we hope and intend to negotiate a good price with the builder and convert it into a Muslim Senior’s Home. This is a golden opportunity to launch such a scheme and our team feels that we should capitalize on it. This project is intended to be completely interest free investment from a Muslim perspective.
Who will be the beneficiary of this Project?
Mostly retired prople who want to have an independent living with comfort and convenience at an affordable cost and within a reasonable distance from anywhere in the GTA. They would most likely be empty-nesters who already own a home, which they don’t need as their kids have grown and moved away. It is time for them to downsize.
Why should people choose to join the project?
Those retirees who want to become part of the scheme will have some significant advantage over those who decide to go it alone, such as:They will be part of the team which will search the most suitable project for them, based on our group’s input and negotiate for them the most competitive price in the market. Those going it alone will lack this advantage and might end up paying a a higher price for a comparable property. Members of this project will have the advantage of being part of a close knit community where their special needs can easily be met. They will always have people around them who can be of help in old age, if needed.
Advantage of Community living for seniors:
Shared values: People find it a lot easier to communicate with those who share same values, language and religion. As the saying goes, ‘birds of same feather fly together.’
Loneliness: Research has shown that old age invariably leads to loneliness among seniors. There is an undeniable need to constantly connect and communicate with people.
Distance is a disincentive: Travelling to meet friends becomes more challenging with age. It is a disincentive leading to loneliness, depression and sometime dementia in old age.
Provision of Services: It is easier and more cost effective to arrange commonly needed services for Seniors living closer together than those living far apart; such as food supply, medical help or caregivers etc. The requirements of Senior living are significantly different than those who are still active and working. Unless people plan in advance things can become much more challenging when the reality hits all of a sudden.
Nature of the Project:
In order to cut the bureaucratic red-tape we plan to avoid getting into government regulations as much as possible. We plan to acquire an under-construction condo project, which might have become insolvent due to current economic crisis. Later on if the community wants and needs then we can plan to build an independent retirement home facility. At this point we are discussing on acquiring project which is ideally nearing completion, and needs little or no construction work.
This is not intended to be a retirement home, a long-term care or nursing home facility. This is intended to be a seniors residence and be entirely self-financed by the members. We are not a charitable organization, however, we shall be willing to cooperate with any such organization which find value in our program and want to join hands with us to help support less fortunate elders of the community.
MUSLIM SENIORS RESIDENCE 