Yes. It is quite similar to a condominium situation. Typically, in a condo the resident owns what is essentially an apartment; everything structurally inside its walls is theirs. As well, residents share common areas such as hallways, lobbies, elevators and recreational areas with the other owners, and a monthly condo fee is paid to the property owner.
At Solstice at Tower Ranch, you own your home. In both cases, it is like freehold ownership in the sense that you will own the entire home from the ground up, and you will lease the land on which your home sits. And, again like condos, you will share common areas such as roads, sidewalks, the general grounds and all of our amenities, and a monthly site fee will be paid to Parkbridge.