Cost Comparison

Psst!

Who?  Me?

Yes, you, the members of GCC and all retired folk.

GCC is offering you a steal of a deal!!

What does it cost to live at Green Cove on the Miramichi? Well, let’s compare apples to apples – straight apartment costs on the Miramichi to living at Green Cove on the Miramichi.

We are talking about a retirement community with services.  Now, like most healthy 60 or 70-year-olds, you plan on living healthy for years and then finding a place to take care of you when you have declining health. There are two problems with that thinking.  The probability of both members of a couple staying healthy for many years is slim.  All professionals in the industry know it is much better to get yourself situated and in a supportive community before problems arise. Secondly, if we do not act now there will not be a decent fall-back option.  The large-scale industrial retirement facility will be here but there will not be a facility that is owned and operated by the residents, free of the profit motive.

The option that will be on the Miramichi will be out of reach of the means of most. Those types of facilities do a good job of taking care of members but it is a long way from active living in which residents are invited to fully participate in the affairs (governance and organization) of the community.        

This brief post will do a small bit of comparison pricing.

I.  Chartwell Retirement Residence

Donna and I had a tour and discussion about living in “Chartwell Retirement Residence”, Guelph, Ontario.  This facility has 115 units. Chartwell is the largest provider of retirement living options in Canada.  I believe the manager told us they have 150 facilities spread across Canada.

We were shown a single bedroom 600 sq ft apartment.   It had a good-sized bedroom with reasonably sized closet, a very small living room with a modest window looking out on an adjacent street and buildings, a kitchenette with no stove (no cooking), a spacious bathroom with an accessible tub/shower.

Meal plans (three meals per day)  are compulsory. Facilities are lovely with significant common space concentrated on a common floor. This is an ageing-in-place facility where most residents can live out their lives right there provided intensive medical intervention is not required.   

Costs:  It would cost Donna and me about $5000.00 per month to live there. If we wanted to live in a two bedroom unit, the cost would be nearly $6000.00 per month.

I could not live there, as the focus is on taking care of you which I believe they do well.  However, I am after active involvement where I can engage in meaningful work/activities to enrich my life and hopefully the lives of others.

II.  Parkland Estates, Shannex of Moncton:

Costs for a two Bedroom unit is $4,500 monthly. Additionally, it would cost $600 per month (2 meals per day) for the second person bringing the cost to over $5,000 per month for a couple.

If this facility operates on the same principle as the one in Fredericton where Donna and I have attended several information sessions, there are significant additional costs for any services over and above the basic services.  In fact, residents are charged for every request for help. People are cared for in a well-built and well-maintained facility. The average age of residents in Fredericton is mid- 80’s  and I would not consider this to be active living. One would expect the independent living facility currently being built on the Miramichi by Shannex to offer similar services at a similar price point.    

III.  Proposal for Green Cove on the Miramichi:

It is hard to compare directly as our pricing varies depending on the location of the unit. For the benefit of this post, let us consider a Medina unit of 950 sq ft with two bedrooms and two bathrooms. It is a corner unit so is somewhat more expensive than other units of this size.

Basic rent was projected to be in the $1400 to $1500 range per month including utilities.

It was projected that a variety of meal plans would be available.   The two meal per day plan was projected to cost in the order of $600 per month per person.  This would bring the total projected cost to $2600 per month including meals.

Yes, we know most do not want meals. Here is what the pros tell us.  Ninety percent of our residents will be making extensive use of the dining room within six months of occupancy. You may think you do not want a meal plan but it is critical to the operation of this type of facility.

In summary:

There are other less expensive options in New Brunswick that could have been included in this post.  However, they are not now or projected to ever locate on the Miramichi so I have not included that data.   Pricing changes from time to time so although the figures quoted here may not be exactly accurate they are substantively correct. 

I. Chartwell in Guelph:  6,000 for two bedrooms and no kitchen. Smaller unit.

II. Shannex in Moncton:   5,000 plus per month.

III.  Green Cove on the Miramichi: Proposal only – $2600 for a 950 sq ft unit with kitchen, two bedrooms and two baths.

Can we do this? I do not know. 

We need more people to subscribe to make this possible. Please consider.

If we can make this happen it is a “steal of a deal”. Time is running out.

Call  us today at 778 8591 or email

Melanie at melanie.greencovecooperative@gmail.com

or

Vernon at vern.goodfellow@gmail.com

DVG 01-02-18

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