Third New Child Care Development Underscores Potential of Edleun's Burgeoning Development Program
CALGARY, June 1, 2012 /CNW/ - Edleun Group, Inc. (TSX-V:EDU) ("Edleun" or the "Company"), the leading provider of quality early childhood education and care in Canada, announced today that it has entered into an agreement with Brookfield Residential, to acquire 2.1 acres of land in the master-planned South Calgary community of Seton to support the staged construction of new child care facilities. The site is in close proximity to the new Calgary South Health Campus, a full service hospital that will employ over 2,400 full-time staff positions and 180 physicians upon the opening of Phase 1. The Company intends to build one building in each of two phases of construction with each 16,000 square foot building comprising 205 licensed child care spaces for children aged six weeks through 12 years of age.
"Locating near a major employment hub in an emerging area will provide substantial traffic for our state of the art centres from the immediate and surrounding communities as parents seek out a convenient, high quality child care option in close proximity to where they work and live," said Leslie Wulf, Vice Chairman Corporate Development of Edleun. "By splitting the development into two phases to have two buildings on one site, we can introduce capacity to meet demand from both newly-hired hospital staff and the adjacent neighbourhoods of Auburn Bay, Mahogany and Cranston, which will be comprised of more than 25,000 homes."
Seton is a Brookfield Residential mixed use development located on 148 hectares that will eventually see one million square feet of retail, 1.5 million square feet of office space, 1,300 multi-family residential units, a hotel, a regional recreation centre and public library, emergency services facility, a high school, an assisted living complex and a nursing home which will all be serviced by the future southeast LRT line," said Warren Paulsen, Vice-President of Commercial for Brookfield Residential.
Upon full build out of the residential communities south of Highway 22x and around Seton, the population is expected to expand to over 100,000 people.
The Seton Learning Centres will be custom-designed, free standing child care facilities offering self-contained parking and a large age-specific outdoor playground area. Each of the centers will be licensed for 205 children and offer programs to families for children ranging from six weeks to 12 years of age. The Seton Learning Centres will offer an age-specific, developmentally appropriate curriculum, fully trained staff that participate in continuous learning and professional development, and nutritionally certified food menus. This facility is designed to provide large volumes of natural light into all classrooms and common spaces creating a warm, secure and stimulating environment conducive to care and learning for children. This modern and efficient new facility will serve as a further template for Edleun's planned development of other new child care centres of varying sizes and configurations designed to suit individual communities and a range of different land sites.
"This new centre in Seton, together with two new centres nearing completion in Calgary, brings the number of new spaces we are developing for Calgarians to almost 700, a welcome addition to a market that is clearly undersupplied as evidenced by strong pre-enrollment activity," said Dale Kearns, President of Edleun. "These centres are not only purpose built, state of the art facilities, but are also more efficient because of their superior locations and economies of scale. We believe that many Canadian cities are underserved by existing facilities, and intend to roll out additional new projects in Alberta, Ontario, and British Columbia."
About Brookfield Residential Properties Inc.
Brookfield Residential Properties Inc. is a North American land developer and homebuilder, active in ten principal markets with over 100,000 lots controlled. They entitle and develop land and build homes for their own communities, as well as sell lots to third-party builders. Brookfield is listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol BRP. For more information, please visit www.brookfieldrp.com.
About Edleun Group, Inc.
Edleun is the leading provider of high-quality, community-based Early Learning & Care child care centres in Canada offering early education and child care services to children ages six weeks to 13 years. Edleun is committed to preparing children for the next step in their education and life, offering families and employers access to and choice of quality early childhood education programs, as well as enhanced opportunities and career advancement for Early Childhood Educators.
Publicly traded on the Toronto Stock Exchange (TSX-V:EDU), the Company's objectives include the acquisition and subsequent improvement of existing child care centres and developing new state-of-the-art Early Learning and Care Centres in underserved Canadian communities.
The Company currently has a total of 47 centres in its portfolio including 42 centres in operation and five in various stages of development or redevelopment representing, 4,990 licensed child care spaces.
Certain statements in this Release which are not historical facts may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements related to Edleun's projected revenues, earnings, growth rates, revenue mix, staffing and resources, and product plans are forward looking statements as are any statements relating to future events, conditions or circumstances. The use of terms such as "believes", "anticipated", "expected", "projected", "targeting", "estimate", "intend" and similar terms are intended to assist in identification of these forward-looking statements. Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause the actual results, performance, achievements or developments of Edleun to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions. Except as required by law, Edleun does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
The Company undertakes no obligation, except as required by law, to update publicly or otherwise any forward-looking information, whether as a result of new information, future events or otherwise, or the above list of factors affecting this information. Many factors could cause the actual results of Edleun to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Dale Kearns, President, of Edleun Group, Inc. at (403) 705-0362, or Nick Hurst of the Equicom Group, Inc. at (403) 218-2835.