Chartwell offers more services, strikes $19 million Quebec deal

Mississauga-based seniors home operator Chartwell Retirement Residences is moving towards offering multi-phase services or complete care at more of its residences due to rising demand.

Last week, Chartwell announced the purchase of  two Cite-Jardin towers in Gatineau, Quebec for $19 million, a move that increased the number of services that Chartwell offers.

“The customer tells us this all the time,” Chartwell CEO Brent Binions told YourMississaugaBiz.com, calling the move to offer a wide variety of services an increasingly important part of the company’s strategy.

Binions said occupancies tend to run a little bit higher in properties, both Chartwell’s and those of competitors, where there is a range of services compared to independent or standalone facilities.

“Where we can put together continuums of care, so people can move through the continuum with us, that would be our preference,” he said. “We think that’s what the customer is looking for.”

Binions said this concept of putting together multiple services is definitely the direction where Chartwell is going with new developments, especially in the last four years.

The focus is also leading the renovation of some of Chartwell’s existing properties. “Especially our larger ones, we have started the process where we convert a wing or a floor into more of the secured care, assisted-living type of services,” Binions said.

Chartwell acquired  the two Cite-Jardin towers in Gatineau, Quebec from CIBC, who held the debt and was the property’s receiver.

Binions said the company was interested in the 65-unit long-term care home and a 171-unit independent supportive living residence because they were services not found in the other four towers.

“It was something we were after for quite some time but circumstances made it impossible for a period of time,” Binions said.

In fact, Cite-Jardin was originally envisioned as part of a six-tower complex and Chartwell had already acquired the other four buildings in other transactions.

Binions said Chartwell plans on keeping the current staff of 85 people already in the other two Cite-Jardin buildings and there likely won’t be any additional hiring. “There might be some minor variations in terms of what we do but they won’t be significant,” he said.

Approximately 180-200 people are employed in the complex’s other four towers already owned by Chartwell, where there are approximately 600 residence spots.

Headquartered on Milverton Drive in Mississauga, Chartwell Retirement Residences is the country’s largest seniors home operator, with 186 homes and 26,000 seniors living in independent living, assisted living and long-term care buildings. Its head office employs approximately 300 people.

 

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