Maroc - STOREYS.COM - A La Une - 15/Aug 16:02

Site Of Planned Brampton Retirement Community Hits The Market For $14.3M

More and more, we're seeing unfinished developments in the Greater Toronto Area hit the market, and this week, a privately-funded planned retirement community development in Brampton was listed under power of sale for $14.3M. The $80M project, which broke ground in early-October 2022 but originated back in 2017, was being developed by Brampton-based construction company Chacon Developments and Origin Active Lifestyle Communities, a senior living corporation with residences across Canada.The 3.4-acre project site is located at 9664 Goreway Drive in Central Brampton, and conveniently situated across the street from the entrance to the Claireville Conservation Area. The sale is being brokered by Colliers, and the listing describes the site as "strategically located."Despite plans to welcome residents by summer 2024, the site remains in the early stages of development, with aerial photos revealing nothing beyond a cleared plot of land and scattered construction materials. In its place was supposed to stand Jeevan Niwas, a senior living community tailored to the South Asian community — the name translating to "Life Home." The retirement village was intended to "create a community that matches the unique values, culture, languages and culinary practices of the South Asian population," according to a press release announcing the groundbreaking. Though unfinished, the development is fully zoned and site plan approved with excavation permit issued and graded, i.e., shovel-ready. Once completed, the community would consist of three buildings providing senior independent living apartments. The apartments would include 103 full-service supported independent living rental apartments, 36 suites for assisted living, and a dedicated neighbourhood of 16 memory care units. Residents would also have access to services including "flexible care, housekeeping, exceptional dining with dedicated kitchens catering to specific dietary requirements, organized activities, excellent amenities, social events and cultural/religious excursions," according to the press release.At the 2022 groundbreaking, the Mayor of Brampton, Patrick Brown said, "Today is a great day for the city of Brampton and our seniors. Jeevan Niwas is a pretty impressive project with a top-notch facility created by great operators and developers." It is unclear why significant development of the site wasn't able to commence, but given the need for senior living communities and the unique appeal that this project would have to the large South Asian population in Brampton, the eventual sale of this shovel-ready site will hopefully mean great things for the City of Brampton.