St. James By-The-Bay is an adult lifestyle, waterfront community based on the Right to Occupy model of home ownership.
The Right to Occupy model of home ownership was chosen because it is the perfect method for owners of St. James By-The-Bay to preserve the philosophy and integrity of their waterfront community adult lifestyle. This model of home ownership provides the flexibility and the means to promote a cooperative spirit among owners with a focus on the "aging-in-place" concept.
St. James By-The-Bay Village is a federally incorporated not-for-profit corporation with a mandate to operate a community-based organization. Its primary purpose is to establish an adult lifestyle residential community at St. James By-The-Bay and to work in the best interests of the members of the St. James By-The-Bay community. St. James By-The-Bay Village also manages and develops ongoing programs for the benefit of those in the community.
When someone enters into a Right to Occupy agreement for a home at St. James By-The-Bay, they become a member of the St. James By-The-Bay Village corporation. This corporation owns all the land and buildings at St. James By-The-Bay and is managed by a Board of Directors elected by the voting members of the corporation. Everyone who owns their home at St. James By-The-Bay will be a voting member of the corporation upon substantial completion of the project.
The Right to Occupy agreement at St. James By-The-Bay provides an owner with a lifetime interest in their home for a fixed, up-front fee (i.e. the purchase price of their home). This interest provides the owner with the right to occupy their home until such time as they wish to move or until their death. It also entitles them to the equity value of their home upon resale.
Further information regarding the Right to Occupy form of home ownership is available to any interested party by contacting our sales office.