$155.5M allocated for long-term care homes in Ontario, minister announces in Mississauga
Published April 23, 2024 at 11:47 am
Additional funding announced today in Mississauga is aimed at boosting construction of long-term care homes across Ontario.
Ontario Minister of Long-Term Care Stan Cho announced $155.5 million this year to help fast-track the construction of new or redeveloped long-term care homes.
Cho made the announcement at the Ivan Franko Homes in Erin Mills this morning (April 23). Construction is well underway on a 160-bed building for the new, not-for-profit long-term care home at 3058 Winston Churchill Blvd. in Mississauga.
The provincial funding is part of the government’s $6.4 billion plan to build 58,000 new and upgraded long-term care beds across the province.
“From escalating construction costs to high borrowing rates, our government understands the financial difficulties many long-term care operators and would-be builders are facing right now,” said Cho. “Extending the construction funding subsidy top-up will help get more shovels in the ground on much-needed projects all across the province.”
The construction funding subsidy was first introduced in 2022, helping get shovels in the ground for 67 projects across Ontario and the province is therefore extending the construction funding subsidy for a second year.
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Eligible projects that are approved to construct by Nov. 30, 2024 will receive an additional construction subsidy of up to $35 per bed, per day for 25 years.
In addition, eligible not-for-profit applicants will be able to convert up to $15 of the supplemental funding into a construction grant payable at the start of construction.
“We owe the seniors who helped build this province a huge debt of gratitude and the dignity of modern, comfortable long-term care facilities,” said Peter Bethlenfalvy, Minister of Finance. “Now is the time for us to seize our once-in-a-generation opportunity to build the critical infrastructure that makes Ontario the best place to live, work and raise a family, which is exactly what Ontario’s 2024 Budget is all about.”
Sheref Sabawy, MPP for Mississauga-Erin Mills praised Ivan Franko Homes for getting much-needed long-term care homes built.
“We are very excited to see all the great things in store for Ivan Franco Homes in here in Mississauga,” said Sabawy.
The announcement comes just about a month after around 200 seniors were served eviction notices from Chartwell Heritage Glen Retirement Residence in Meadowvale.
See the full announcement from the provincial government here.
Lead photo: micheile henderson
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