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Life Leases

A Life Lease is more about creating a community than building housing.

The Terraces at Heritage Square is based on the “Life-Lease” purchase option.  Construction was completed in 2004. The 161 condo-style facility and services pavilion are located at Madeline St. and Dean Avenue, 5 km distance from our Brooks Street campus. 

The Terraces is an upscale development with thirteen different styles of suites to appeal to seniors 60+.  90 and 94 Dean Avenue are 5 storey buildings with 81 and 80 suites in each linked together by a ground level covered garage and a central pavilion for the provision of amenities such as dining, wellness, fitness, and convenience services. 

The roof top gardens accommodate several activities such as lawn bowling, shuffleboard, putting green, bocce ball, and walking paths as some of the features that make this a great adult lifestyle community.

The main benefit of living in a life lease community is the strong and cohesive sense of community. Since life lease communities are age-restricted, residents enjoy their retirement years surrounded by neighbours with similar tastes, needs, values, lifestyles and interests.

Available Suites

#104 - 90 Dean Ave

#104 - 90 Dean Ave

2 Bed + Den | 2 Bath | 1,355 sq. ft.

#202 - 94 Dean Ave

#202 - 94 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#203 - 90 Dean Ave

#203 - 90 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#302 - 90 Dean Ave

#302 - 90 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#302 - 94 Dean Ave

#302 - 94 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#303 - 90 Dean Ave

#303 - 90 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#311 - 94 Dean Ave

#311 - 94 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#313 - 90 Dean Ave

#313 - 90 Dean Ave

2 Bed | 2 Bath | 1,355 sq. ft.

#410 - 94 Dean Ave

#410 - 94 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#411 - 94 Dean Ave

#411 - 94 Dean Ave

1 Bed | 1 Bath | 763 sq. ft.

#417 - 90 Dean Ave

#417 - 90 Dean Ave

1 Bed | 1 Bath | 891 sq. ft.

#507 - 90 Dean Ave

#507 - 90 Dean Ave

1 Bed + Den | 1.5 Bath | 971 sq. ft.

#513 - 94 Dean Ave

#513 - 94 Dean Ave

1 Bed + Den | 1.5 Bath | 971 sq. ft.

Tour Days

 Join us every Tuesday at 2pm sharp in the lobby at 94 Dean Avenue for a tour of our vibrant community, spacious suites, and exceptional amenities. Experience the comfort and peace of mind that come with IOOF’s Life Lease living.

The Terraces at Heritage Square

  • Location 92 Dean Ave.,
    Barrie, Ontario, Canada L4N 0M3
  • Email: inquiries@ioof.com
  • Phone: (705)739-6299
  • Fax: (705) 739-4914

FAQs

Does the New Home Warranty Program apply to Life Lease?
If my spouse is over 60 and I am younger, what happens if my spouse should pass-away before I am 60?
Under a market value life lease, what happens to my life lease interest when I wish to sell or upon my death?
What do I do if I wish to sell my unit at a future date?
What do the Monthly Occupancy Fees cover?
What type of heating/air-conditioning system has been installed?
Who is responsible for repairs?