Ontario’s Minister of Long-Term Care, Stan Cho, today announced a substantial allocation of $155.5 million to enhance the construction and redevelopment of long-term care homes across the province. This funding announcement was made at the site of the new Ivan Franko Homes in Erin Mills, a non-profit long-term care facility currently under construction at 3058 Winston Churchill Blvd., Mississauga.
This financial support is a part of the provincial government’s broader $6.4 billion initiative aimed at adding 58,000 new and upgraded beds to long-term care facilities across Ontario. “Our government recognizes the challenges faced by long-term care operators, from rising construction costs to high borrowing rates,” Minister Cho explained. “By extending the construction funding subsidy top-up, we are ensuring that more essential projects can break ground across Ontario.”
Introduced in 2022, the construction funding subsidy has already facilitated the start of 67 projects. With its extension, the program will continue to provide eligible projects, approved to construct by November 30, 2024, with an additional subsidy of up to $35 per bed, per day for the next 25 years. Not-for-profit organizations are also eligible to convert up to $15 of this supplemental funding into a construction grant, receivable at the project’s inception.
Minister of Finance, Peter Bethlenfalvy, expressed the government’s commitment to improving senior care. “Our seniors have played a crucial role in building this province, and they deserve our gratitude and the dignity of living in modern, comfortable long-term care facilities,” he stated. “Now is the time to seize this once-in-a-generation opportunity to develop the critical infrastructure that makes Ontario an ideal place to live, work, and raise a family.”
“Our seniors, who have contributed so much to the foundation and growth of this province, deserve our profound thanks and the right to live in modern, comfortable long-term care facilities.” added Amarjot Sandhu MPP Brampton West
Sheref Sabawy, MPP for Mississauga-Erin Mills, also praised the Ivan Franko Homes project for addressing the urgent need for long-term care facilities. “The progress at Ivan Franko Homes is promising, and it signifies great developments for long-term care availability in Mississauga,” he noted.
This announcement is particularly timely, coming just a month after nearly 200 seniors received eviction notices from Chartwell Heritage Glen Retirement Residence in Meadowvale, highlighting the growing demand for more long-term care options in the region.