***Original published in Crossroads This Week, Oct 19, 2018***
New Housing Option for Hamiota Older Adults
The town of Hamiota is gaining a unique senior housing option due to the forward looking efforts of Mark Fisher and his contracting company. The first of at least two downtown 4 Plex units is almost complete and Mark is well into the planning stages of starting a second 4 Plex in 2019.
The Souris based company has been in the construction business for 15 years and has been building custom homes specifically for older adults since 2014. He started with two 3 Plexs in Souris, one 4 Plex in Hartney, and started construction of this latest project this spring.
Mark explained that he recognized that there was a niche market for high quality, small venture, housing options for older adults in rural Manitoba towns. “It’s risk management in smaller markets. In my opinion, it is not feasible in a small community to blow into town promising larger developments. With my business model, I can scale building safely without overextending financially. It has been successful for me and my previous customers, so I’ll keep doing what works.”
The buildings that Mark has designed are built with the needs of seniors in mind. All the rooms are on one level, everything is wheelchair and scooter accessible, the doors and garage are oversized, and there is no yard to look after.
Plus for the new tenants literally getting in on the ground floor, they have the option of getting together with Mark during the building process to ask for specifics suited to their needs. Upgrades or other changes are always easier for a builder before the final building is done. Mark regularly takes feedback during the building process and has already incorporated improvements into each successive project.
Unlike a condominium, Mark’s housing business model is to act as a landlord with long term tenants. With the first few projects, he was asking for a $15,000 deposit that would be applied to the first five years of the rent. The money offset the company’s financial liability during the construction process. With these new projects in Hamiota, the deposit is now optional but if it is paid, Mark will guarantee no rent increases and a commensurate rent decrease for a five year period. If the tenant decides to leave, they will receive a pro-rated deposit refund. After the five year period finishes, Mark forecasts that any rent increases will be minimal.
A selling feature for this type of housing option is there are no extra fees or hassles with a condo committee. The hardest thing for the building’s tenants to get together over is collectively sharing the costs of snow removal.
For Hamiota residents interested in the new building slated for the 2019 construction season, Mark will be holding an Open House at the 74 Maple Ave location on October 30 from 5 to 8 pm.
Blair is a personification of a ‘Jack of All Trades and Master of None’. He has held several careers and has all the T-shirts. Time to add the title Blogger to the list.