Chartwell and Island Health Announce Agreement to Develop Chartwell Malaspina Gardens Care Residence

NANAIMO, BC--(Marketwired - April 20, 2016) - Chartwell Retirement Residences (TSX: CSH.UN) and Island Health are pleased to announce the details of their agreement for the redevelopment of Chartwell Malaspina Gardens Care Residence.

Construction has already commenced for the new centre at 100 Twelfth Street, with occupancy expected by March 1, 2017. The new site, which Chartwell is constructing at a cost of $27.4 million, will replace the existing aging building at 388 Machleary Street. Island Health will provide annual operating funding in the range of $10.4 million.

Residents and staff have been given advance notice of the new site which will offer significant enhancements in living and amenity space for residents, new safety and security features, modern finishes and increased outdoor space. Chartwell's existing license of 133 residential care beds, plus an additional 3 private pay beds, will be included at the new site, including 40 licensed dementia beds.

"We are very excited to be bringing a new, modern and accessible care centre to the community of Nanaimo. Building in a new location ensures minimal disruption for existing residents and staff," said Brent Binions, President and C.E.O. of Chartwell Retirement Residences. "Our commitment to quality care will continue to be our highest priority during this project and we will be working with residents and family members to coordinate their safe and stress-free move to the new location."

"We are delighted to partner with Chartwell Retirement Residences on the redevelopment of Malaspina Gardens," said Don Hubbard, Island Health Board Chair. "This new residential care home will provide a comfortable, safe place where seniors and those living with dementia, will receive the care they need while enjoying an excellent quality of life."

About Chartwell

Chartwell (TSX: CSH.UN) offers a complete range of seniors housing communities in Canada, from independent supportive living through assisted living to long term care. It is the largest owner and operator of seniors residences in Canada and is home to 25,000 residents and employs approximately 14,000 staff. Our vision of Making People's Lives BETTER is more than just a phrase; it is a promise that we consider to be our highest priority. For more information, please visit www.chartwell.com.

About Island Health

Island Health provides excellent health and care services to more than 765,000 people on Vancouver Island, the islands in the Salish Sea and the Johnstone Strait, and the mainland communities north of Powell River. More than 18,000 health care professionals, technicians, and support staff provide care and services through a network of hospitals, clinics, centres, health units, and residential facilities. Please visit www.viha.ca for more about what we do.