MISSISSAUGA, ONT. — Chartwell Retirement Residences and Welltower Inc. have announced they will invest in the development of a new $72-million retirement residence in the Guildwood neighbourhood of Toronto.
The new Chartwell Guildwood Retirement Residence is expected to open in early 2020 and will offer 172 suites with a range of accommodation and care and support service options, said a Sept. 12 release. The retirement residence will include independent living apartments, independent supportive living suites and a section for residents with memory impairment.
Amenities will include a music room, indoor pool, art room and various dining venues. The residence will be pet friendly with walking paths and a pet wash. Sustainability features will include LED lighting, building automation and a modern heating and cooling system.
As part of the City of Toronto development approvals process for the project, Chartwell and Welltower donated $175,000 in community benefits that will be used for capital improvements in the Guild Park and Gardens.
“We look forward to bringing this new residence to the community as the senior demographic in Toronto will grow significantly over the next 10 years. The project will support local economic activity by creating 150 construction jobs and related opportunities and will employ more than 45 permanent positions when open for those committed to caring for and supporting our seniors,” said Teresa Fritsch, senior vice-president, real estate and investments at Chartwell, in the statement.
Chartwell currently has 24 projects with an estimated investment value of $1.4 billion in its development pipeline across Ontario, Alberta, British Columbia and Quebec.
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