Chartwell Retirement Residences has declared a cash distribution of $0.051 per Trust Unit payable on October 15, 2024. The company also reported positive occupancy trends, exceeding 2023 move-in activity by 10% and forecasting continued growth driven by strong demand.
The sale of Lions Place non-profit seniors housing complex to Mainstreet Equity Corp. has been labeled as “organizational elder abuse” by the Canadian Centre for Policy Alternatives. Residents experienced significant distress during the sale process, including sleep disruptions, shingles, increased blood pressure, and depression. The report calls for an immediate public inquiry into the management and spending of Lions Housing Centres members. Minister Bernadette Smith expressed concern and pledged to ensure seniors are treated fairly and remain in their homes.
