Homeowners ‘lease’ the property from a developer for a set term. Leasehold properties are registered at the Land Titles registry and can be financed just like any other home. You can buy them, sell them, even will them to someone. Homeowners will pay City of Calgary property taxes and condo owners will pay condo fees as usual. So, leaseholders have the same rights and responsibilities as a traditional freehold property owner for the length of the lease, which in the case of University District is 99-years.
Understanding Our leasehold land in University District
Leasehold land is now a well-established practice at University District. It provides the opportunity to purchase a home on University of Calgary land in a mindfully designed and well-maintained community that holds exceptional value.
Own the space,
lease the land
Your condo or townhome belongs to you. You can finance it, sell it, even will it to someone. Your home purchase is structured as a leasehold agreement for a 99-year term.
This long-term leasehold model helps protect property value and ensures the community remains thoughtfully maintained and managed well into the future.
Transfer the
Lease When You Sell
Selling your home in University District works like a typical real estate sale. The terms of the leasehold agreement transfer to the new owner. There’s no renegotiation, and the process is straightforward for buyers and sellers.
Looking for more details and documents? You’ll find everything required for the Assignment of Lease process.
Be Part of A Trusted
Framework
University District is part of a growing network of university-led communities, like Wesbrook Village at UBC and UniverCity at SFU, where thoughtful planning and long-term stewardship shape places people are proud to call home.
Right here in Alberta, the Town of Banff demonstrates how leasehold models can deliver lasting quality, protect shared spaces, and create room for residents and local businesses to thrive over time.
Image source: Simon Fraser University
FAQs
What is the difference between a traditional freehold property and a leasehold property?
Are leasehold land opportunities common?
Leasehold situations are becoming more familiar to many homeowners in Alberta, and they are quite common in major cities around the world; Hong Kong, much of London, England, and the Town of Banff are all built using a leasehold structure. University District’s model is similar to what has been developed at the University of British Columbia, and we’ve been really pleased to see how that project and University District have progressed successfully.
Why is University District a leasehold community?
University District’s location and proximity to jobs and post-secondary, health centres, recreation, arts and culture, and the outdoors is second to none in our city. It’s easy to see why people have been wanting to live here for so long, but the traditional freehold ownership options were not available to us.
The University of Calgary received this land as an endowment under the condition that it should be developed to provide long-term financial returns to the university and could not be sold. The leasehold structure provided an opportunity to bring the vision of University District to life, enabling development and optimizing the amazing location to create a benchmark urban community.
Are there any other benefits to purchasing a leasehold property in University District?
The tangible benefit of the leasehold structure is that the developer, University District Trust, is responsible for the development and maintenance of the community, so streets, infrastructure, and amenities (parks, recreation centres, etc.) are thoughtfully designed and well taken care of over the long term, making a leasehold property a sound investment.
What happens at the end of the 99-year lease?
University District’s leasehold opportunity is attractive because the university has a vested interest in maintaining the value of the land and community. At the end of the 99-year lease, the university can do one of two things – negotiate an extension of the lease or pay the leaseholder fair market value for improvements to the property.
Still have questions?
Connect with us online or in person – whichever works for you.