Edgewood Development Team - Gerard C. Lorusso, President
Clubhouse seating area, Edgewood Apartments, Plainville, MA

Life Tenancy

This option is best employed by people who want to take advantage of the value of their land or building but who also wish to remain in their home or neighborhood. Commonly, a fair market value of the asset would be agreed upon and the potential development rights would be purchased by Edgewood. The seller retains the home while the remainder of the property is developed.

Edgewood has also modified this approach by building the property owner a new, modern home with improved accessibility to replace older, less efficient or dwellings. The property owner moves into the new home which is usually part of a new neighborhood and remains there for an agreed upon period of time – usually for life.