Immostar, Bâtimo and Chartwell unveil an upcoming retirement residence at the core of an ambitious mixed development project

QUEBEC CITY, Sept. 27, 2017 /CNW Telbec/ - Immostar is pleased to announce a partnership with Bâtimo and Chartwell and an investment of more than $100 million dollars for the redevelopment of Cap-Rouge Mall in Quebec city. The mixed-use megaproject will include the revitalization of the shopping centre and the creation of a new retirement residence.

Chartwell Retirement Residences, Canada's largest owner and operator of seniors housing, in partnership with Bâtimo and EMD Construction, will build a new retirement home adjacent to Cap-Rouge Mall, a one-of-a-kind feature in the borough of Cap-Rouge. The new residence will be constructed in one phase and will feature 360 apartments, including studios, 3 ½, 4 ½ and 5½ options, as well as an upscale 36-suite Assisted Living area. Combining nature, prestige and on-site access to the mall, the retirement complex represents an investment of $78.5 million dollars with construction expected to employ a total of 350 people. Approximately 50 permanent jobs will be created once the property is fully operational. The first resident move-ins are expected during the summer of 2019.

"We have always paid special attention to the Cap-Rouge Mall considering its exceptional location and our knowledge base of the sector. For several years, we have witnessed the stagnation of its development and the deteriorating quality of offer and services to its community members. The remarkable potential was still there to create a project that would meet expectations, choices and Cap-Rouge citizens' demographic characteristics. That's why we came up with a mixed project that will offer quality shops and services for all residents including retired seniors. This is Immostar's mission in partnership with Bâtimo and we are very pleased to be making a difference in this sector that we care about," said André Pelchat, President of Immostar.  

The retirement residence will offer bright and spacious apartments for active seniors in the Cap-Rouge community, with the peace of mind of knowing that additional support is available on-site. Residents will have access to numerous amenities, including a demonstration kitchen, a beautiful library, arts and crafts room, a gym and yoga studio, while also having the opportunity to enjoy a coffee or a glass of wine with friends in the bistro or dining areas. The residence, easily accessible by highways 40 and 540, is within the Cap-Rouge Mall offering close proximity to key convenient amenities such as a pharmacy, a bank, gas station, postal office, SAQ and many restaurants. Also in close proximity is Cap Rouge's Golf Club, Jacques-Cartier Park, Cap-Rouge river and a walking path.

"After our announcements in the past year of new Chartwell residences in partnership with Bâtimo, in Greenfield Park, St-Hubert, Vaudreuil-Dorion and Candiac, we are thrilled to further enhance our presence in Quebec's seniors housing landscape, this time in the Quebec City market," said Maxime Camerlain, Vice President of Real Estate Integration at Chartwell. "Cap-Rouge is a great location for seniors to stay active and involved in a peaceful community with a view of the beautiful surrounding nature while benefiting from a lifestyle which includes a variety of on-site services, programs and shops." Francis Charron, President of Bâtimo and Vice-President of EMD Construction echoes Mr. Camerlain's opinion: "This new complex, ideally positioned within the mall and steps away from many shops and services, will be very beneficial to residents as well as to local cultural and leisure facilities."

The new location will join Chartwell's existing network of 45 residences across the province and more than 180 locations across Canada.  With an anticipated opening of the residence in the summer of 2019, the Presentation Centre is expected to be open on November 1, 2017 and will be located in the Cap-Rouge Mall. "We are particularly proud to be bringing our vision of Making People's Lives Better to even more seniors in Quebec and to contribute to the revitalization of the Cap-Rouge Mall," adds Mr. Camerlain. More information can be found at ChartwellCapRouge.ca.

About Chartwell
Chartwell is an unincorporated real estate trust that indirectly owns and operates a complete range of retirement residences designed for independent and assisted living, as well as tenants requiring long-term care. It is the largest owner and operator of seniors' residences in Canada. In Quebec, Chartwell is home to over 10,000 residents and employs approximately 3,000 staff dedicated to Chartwell's vision of Making People's Lives Better. Chartwell aims to capitalize on its markets' strong demographic trends to maximize the value of its existing portfolio of retirement residences, and prudently pursue opportunities to grow internally and through accretive acquisitions.

For more information, visit www.chartwell.com.

About Bâtimo ? EMD Construction
Bâtimo is a real estate promoter associated with EMD Construction Inc. ("EMD"). Founded in 1998, the company boasts over 422 employees, including 72 in the real estate and construction sector. The vertical integration of these partners and their in-depth knowledge of various asset classes enable them to fulfill their core mission, namely to design and deliver high-quality projects, while optimizing value creation for each developed site. To this end, Bâtimo and EMD features a portfolio comprised of several residential complexes, including retirement homes, condominiums and rental properties. The company also specializes in the construction of office and commercial buildings. Including ongoing projects, Bâtimo and EMD currently boast significant achievements, with a total value of over $1.3 billion.

For more information, visit www.batimo.ca.

About Immostar
Immostar is a collective of real estate enthusiasts driven by the desire to make a significant and quantifiable difference in each and every project. As a real estate leader, Immostar acquires, develops, and manages commercial real estate projects, shopping centres, office space, and industrial and multi-residential projects. The Immostar group was established in Quebec City 15 years ago and currently operates throughout Quebec and in New Brunswick. It manages a portfolio of more than 3 million square feet spread across 50 buildings with an estimated value of $300 million. Immostar is constantly looking for ways to transform the ordinary into the extraordinary, while at the same time generating added value above the market for both investors and tenants.

For more information, visit www.immostar.ca.

SOURCE Chartwell Retirement Residences