Rseau Slection investing $2B to build 30 new projects in Quebec

Réseau Sélection will invest $2 billion over the next five years to build 30 new seniors housing projects in Quebec. The Greater Montreal region is the focus of this investment, which will see 25 projects developed, eight of them on Montreal Island. Réseau Sélection’s expansion will create 7,000 jobs during construction and, upon completion, 4,000 direct jobs across the network.

“This investment plan responds to an expanding market and will make it possible to meet growing demand from seniors, who will represent one-quarter of Quebec’s population in 15 years’ time,” said Réal Bouclin, CEO of Réseau Sélection In Montreal, this figure will increase even more quickly, as the seniors’ population grows from 15 to 25 per cent during the same period. Worldwide, Japan is the only country where the population will age faster than in Quebec. According to the Institut de la statistique du Québec, the province will start to feel the impact of seniors’ growing needs by 2016.  “As baby boomers approach retirement, the process of deciding whether to live in a residence will change, and the needs of this cohort will evolve. These people view retirement as an active and rewarding time of life: they want to stay healthy, continue doing what they love and, in many cases, embark on new projects. They’ll be looking for environments that reflect their style and meet their needs,” he added.

Rosemont-les-Quartiers is one of the flagship projects in Réseau Sélection’s expansion program and will be, upon completion, one of the most important projects of its kind in the province. This multipurpose complex is being built on the close to 500,000-square-foot revitalized site of the former Norampac plant in the borough of Rosemont-la-Petite-Patrie. This unique real estate project, which represents an investment of $250 million, will be the largest project of this type ever carried out in Quebec once it is completed. It was developed in partnership with Claridge and Centria.

This will be a green, intergenerational urban neighbourhood comprising 1,400 housing units, 1,000 of which will be for seniors. The project will also include condos and apartments for people aged 55 and over, condos for families, social housing, a polyclinic, specialized residential units and stores. will have access to viable transportation options: bike paths, Bixi stations, CommunAuto and public transit routes.

“Rosemont-Les-Quartiers is one of the important urban-planning initiative that will reconnect the eastern and western parts of Rosemont. We’re proud to develop this innovative project that will encourage social and functional diversity, and create a dynamic intergenerational environment,” concluded Bouclin.