Revera to Invest $75 Million in New State-of-the-Art Retirement Community in Regina, Saskatchewan

Company breaks ground at Green Falls Landing and anticipates the creation of hundreds of jobs

REGINA, May 10, 2016 /CNW/ - Revera, a leading owner, operator and investor in the senior living sector is breaking ground today on Green Falls Landing, the company's newest retirement community in Regina, Saskatchewan, scheduled to open in 2018.

This $75 million project is currently the single largest private investment in seniors housing in Regina, and is expected to provide a boost to the local economy through the creation of approximately 300 short-term construction and skilled labour positions at peak construction. Once the community opens, Revera anticipates the creation of another 150 positions ranging from full and part-time jobs to positions offered through other temporary and ancillary services.

"This project represents a significant expansion of our retirement living portfolio in Saskatchewan and marks another milestone of Revera's strategic plan to serve more seniors by growing its footprint in Canada, the U.S. and the U.K.," said Thomas G. Wellner, President and Chief Executive Officer of Revera Inc. "Green Falls Landing will offer an exciting destination for older adults to live life to the fullest through an extensive range of best-in-class services and amenities geared towards providing choice in retirement living." 

Once complete, the company's new 216-suite community, spread over seven acres of land, will offer a campus-style format and will help residents live life their way through services ranging from independent seniors apartments, to assisted living and memory care.

Green Falls Landing will boast a wide range of amenities, including a 1,600 square foot fitness centre and yoga area, a spa, an outdoor fitness circuit, planting and gardening areas, an art studio and a theatre.

The community will also feature multiple unique dining options including a casual breakfast diner, a formal dining room, a pub and a bistro.    

In addition to offering best-in-class services and amenities, Green Falls Landing will introduce the concept of community integration through the inclusion of a 25,000 square foot, publicly-accessible retail plaza that will act as a destination for the entire neighbourhood.

The new community maintains Revera's ongoing commitment to environmental sustainability by targeting LEED certification. Once built, Green Falls Landing will be one of only a handful of buildings in the province of Saskachewan to attain this environmental standard.

Through Revera's development pipeline, the company is evaluating $1.7 billion of new development opportunities across the Canadian senior living sector. The pipeline includes almost 40 active projects at varying stages of development, including 14 expansion projects.

About Revera

Revera is a leading owner, operator and investor in the senior living sector. Through its portfolio of partnerships, Revera owns or operates more than 500 properties across Canada, the United States and the United Kingdom, serving more than 50,000 seniors. The company offers seniors' apartments, independent living, assisted living, memory care and long term care. With approximately 45,000 employees dedicated to providing exceptional care and service, Revera is helping seniors live life to the fullest. Through Age is More, Revera is committed to challenging ageism, the company's social cause of choice. Find out more at ReveraLiving.com, Facebook.com/ReveraInc or on Twitter @Revera_Inc.

SOURCE Revera Inc.

Image with caption: "Architectural rendering of Green Falls Landing - Revera's new, state-of-the-art retirement community in Regina, SK, scheduled to open in 2018 (CNW Group/Revera Inc.)". Image available at: http://photos.newswire.ca/images/download/20160510_C1677_PHOTO_EN_686045.jpg

For further information: Maia Doytcheva, Revera Inc., (289) 360 - 1157, Maia.Doytcheva@reveraliving.com

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