The company is already ahead of schedule on its $2-billion five-year plan unveiled in 2015
MONTRÉAL, Sept. 19, 2016 /CNW Telbec/ - Quebec company Réseau Sélection is now the largest private-sector player in retirement home community development, construction and management in Canada, with 10,000 units, including those under construction. The company is also ahead of schedule on its five-year plan, with the value of its projects initiated and under construction expected to hit $900 million by the end of 2016.
"There's been a great deal of talk about Quebec-based companies being sold off to interests west of us or south of the border. With its position as the top private-sector player in its line of business in Canada and its growth over the past three years, Réseau Sélection is extremely proud to be one of the new flagships of Quebec business," said Réseau Sélection President and CEO Réal Bouclin, pointing to the company's threefold growth in staff in less than three years, with nearly half of its 3,000 employees located in the regions. "Réseau Sélection is now one of the top five residential builders in Quebec and a major driver of economic activity in the Province."
Solid growth and six new projects
On the strength of a $1.4-billion property portfolio, Réseau Sélection continues to grow, announcing a five-year, $2-billion development plan in 2015 for construction of 30 new retirement home communities and a total of 18,000 units by 2020. The projects initiated under the plan will comprise an investment close to $900 million by the end of 2016, significantly ahead of the company's forecast.
Réseau-Sélection has also announced that it will launch six large-scale projects with construction slated to begin over the next six months, at a value close to $250 million, bringing the total value of projects under the five-year plan to around $900 million ahead of its forecasts.
The new projects include construction of Le Sélection Ste-Dorothée (with a $95-million price tag and 300 rental units, it will be a first for Quebec and a prototype for development outside the province), completion of two new phases at Rosemont-Les Quartiers, featuring condos and care units, construction of Le Sélection St-Augustin, a traditional retirement residence with 275 serviced condos and rental units, construction of Le Sélection Valleyfield, 250 units; construction of le Sélection St-Hyacinthe, with 260 units and a major renovation project at Le Sélection Île des Sœurs.
Iconic new project in Ste-Dorothée
Unveiling its prestigious new retirement home community in Ste-Dorothée, Réseau Sélection launches an iconic project that takes its inspiration from some of the largest American seaside developments. "At 30 storeys, Le Sélection Ste-Dorothée will be the tallest residential tower in Laval, as well as the tallest retirement complex in Quebec. Thanks to this exceptional project, we are imagining and creating a complete way of life for retirees, and we hope eventually to export the concept beyond Quebec's borders," said Gaétan Cormier, Executive Vice-President, Development.
Innovative inter-generational project to live life better, together
Capitalizing on a real estate platform and an integration model unique in Canada, Réseau Sélection is pursuing a continual diversification strategy in terms of both its products and its geographical locations. This business model allows the group to create living spaces that enable people to continue thriving and give different generations the opportunity to live better, together. A recent survey of Quebecers indicated their interest in this way of life.
For 69% of baby-boomers, retirement represents a time when they can continue to experience new things and live life to the fullest by engaging in a variety of projects.
Lastly, we note that the company's vision and offering are very positively viewed by retirees, since 96% of Réseau Sélection's new clients have been referred by parents or friends.
About Réseau Sélection
Réseau Sélection has been developing and managing retirement home communities for over 25 years. A pioneer in the sector, with an operating platform that is unique in Canada, the company is active throughout Quebec, with 35 residences in operation and/or under construction and close to 3,000 employees serving the needs of some 8,500 residents and delivering a satisfaction rate in excess of 95%. In addition to revitalizing and enhancing its residents' quality of life, Réseau Sélection has also developed healthyIDtm, a lifestyle program focusing on prevention and awareness for adopting healthy daily living habits so that residents "live better, longer."
SOURCE Réseau Sélection
Image with caption: "Le Sélection Ste-Dorothée (CNW Group/Réseau Sélection)". Image available at: http://photos.newswire.ca/images/download/20160919_C6981_PHOTO_EN_775985.jpg
For further information: Martine Nadeau, Ping Communication, Tel.: 514 238-0568