{"id":17334,"date":"2025-07-02T09:22:37","date_gmt":"2025-07-02T13:22:37","guid":{"rendered":"https:\/\/buildingonfund.ca\/?p=17334"},"modified":"2026-05-06T16:57:52","modified_gmt":"2026-05-06T20:57:52","slug":"building-ontario-fund-closes-financing-to-expand-and-modernize-four-rural-long-term-care-homes","status":"publish","type":"post","link":"https:\/\/dev.buildingonfund.ca\/fr\/building-ontario-fund-closes-financing-to-expand-and-modernize-four-rural-long-term-care-homes\/","title":{"rendered":"Le Fonds ontarien pour la construction conclut un financement de 276 millions de dollars pour agrandir et moderniser quatre foyers de soins de longue dur\u00e9e en milieu rural"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17334\" class=\"elementor elementor-17334\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-22f326b e-con-full e-flex e-con e-parent\" data-id=\"22f326b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-28e4ca3 elementor-widget elementor-widget-image\" data-id=\"28e4ca3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"11\" src=\"https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67-1024x11.png\" class=\"attachment-large size-large wp-image-13109\" alt=\"Decorative horizontal divider\" srcset=\"https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67-1024x11.png 1024w, https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67-300x3.png 300w, https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67-768x9.png 768w, https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67-18x1.png 18w, https:\/\/dev.buildingonfund.ca\/wp-content\/uploads\/Rectangle-67.png 1440w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-016dc9d e-flex e-con-boxed e-con e-parent\" data-id=\"016dc9d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-8753fea e-con-full e-flex e-con e-child\" data-id=\"8753fea\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9924400 elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"9924400\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">July 2, 2025<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b0b028 elementor-widget__width-inherit elementor-widget elementor-widget-heading\" data-id=\"6b0b028\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Building Ontario Fund Closes Financing to Expand and Modernize Four Rural <br> Long-term Care Homes <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-03601c8 e-flex e-con-boxed e-con e-parent\" data-id=\"03601c8\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dc82655 elementor-widget elementor-widget-text-editor\" data-id=\"dc82655\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><span style=\"color: #047bc1;\"><strong>TORONTO<\/strong> <\/span>\u2013 The Building Ontario Fund (BOF) has reached financial close on an agreement with Arch Corporation (Arch) that bundles four loans to redevelop and expand long-term care (LTC) homes in smaller communities in Ontario. Manulife financed the project in partnership with BOF to help accelerate priority infrastructure development in the province.<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cAttracting institutional capital to finance high-impact infrastructure investments is one of the reasons the Building Ontario Fund was created,\u201d said Peter Bethlenfalvy, Minister of Finance. \u201cThis partnership will help ensure more residents in rural Ontario have access to the care they need, close to family and the communities they know.\u201d<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">The financing includes four loans totalling $265.5 million, split evenly between BOF and Manulife, to support construction costs for much-needed LTC homes in small communities. Bundling the four homes enabled the inclusion of smaller projects that would not otherwise have been built. This approach not only balanced risk and scale but also enabled third-party capital to invest in the Arch homes alongside BOF.<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cIn partnership with Manulife, our bundling strategy allowed us to deliver more long-term care beds across the province than would have been feasible using solely market-based financing,\u201d said Michael Fedchyshyn, CEO of the Building Ontario Fund. \u201cWe expect to build upon this financing model and secure further interest from institutional lenders and other partners interested in developing long-term care infrastructure.\u201d\u00a0<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cBringing additional scale to long-term care housing in markets that need alternative and additional beds is a compelling investment for the communities, and it is an exciting and rewarding project to participate in alongside the Building Ontario Fund,\u201d said Manulife\u2019s Bruce Anderson,\u00a0AVP Project Finance &amp; Infrastructure.<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cWe\u2019re proud to be working with the Building Ontario Fund and Manulife to bring these much-needed homes to life,\u201d said Dan Argiros, CEO of Arch Corporation. \u201cThis partnership is a model for how public and private capital can come together to serve the public good.\u201d<\/span><\/p><h2><span style=\"font-family: Raleway, sans-serif; color: #047bc1;\"><strong>Quick Facts<\/strong><\/span><\/h2><ul><li style=\"list-style-type: none;\"><ul><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\">The four homes will collectively provide 576 beds\u2014276 new and 300 redeveloped\u2014to help meet the growing demand for long-term care in underserved areas. Construction is underway and all four homes are expected to be completed by early 2028.<\/span><\/li><\/ul><\/li><\/ul><ul><li style=\"list-style-type: none;\"><ul><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\">The four-home BOF-Manulife bundle includes the following development projects in Arch\u2019s portfolio:<\/span><\/li><\/ul><\/li><\/ul><ul><li style=\"list-style-type: none;\"><ul><li style=\"list-style-type: none;\"><ul><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><strong>Amherstburg<\/strong>: 160-bed home (101 new beds)<\/span><\/li><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><strong>Lancaster<\/strong>: 128-bed home (68 new beds)<\/span><\/li><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><strong>Prescott: <\/strong>128-bed home (68 new beds)<\/span><\/li><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><strong>Tay Valley Township: <\/strong>160-bed home (39 new beds) <\/span><\/li><\/ul><\/li><\/ul><\/li><\/ul><ul><li style=\"list-style-type: none;\"><ul><li><span style=\"font-family: Raleway, sans-serif; color: #000000;\">Through four different limited partnerships Arch Corporation is the Licensee of 11 long-term care homes in Ontario.<\/span><\/li><\/ul><\/li><\/ul><h2><span style=\"font-family: Raleway, sans-serif; color: #047bc1; font-size: 24px;\"><strong>Quotes<\/strong><\/span><\/h2><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cWe are rapidly building capacity across the province, and thanks to financing secured by the Building Ontario Fund, the 576 beds to be updated or added to these four communities support our goal of delivering 58,000 new and redeveloped long-term care beds by 2028.\u201d<\/span><br \/><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u2014 <strong>Natalia Kusendova-Bashta<\/strong>, Minister of Long-Term Care<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cAs the largest investment in Prescott, this project will ensure that more residents remain close to the people and places they know and love.\u201d<\/span><br \/><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u2014 <strong>Steve Clark<\/strong>, Government House Leader and MPP for Leeds-Grenville-Thousand Islands and Rideau Lakes<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cWith this investment, Tay Valley will benefit from the redevelopment of Perth Community Manor and help us meet the growing demand for a modern, vibrant environment for residents as they transition to long-term care.\u201d<\/span><br \/><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u2014 <strong>John Jordan<\/strong>, MPP for Lanark\u2014Frontenac\u2014Kingston<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cWith the ongoing commitment of Arch and BOF bringing investors to the table, residents in the Amherstburg community will see the development of a modern, supportive environment.&#8221;<\/span><br \/><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u2014 <strong>Anthony Leardi<\/strong>, MPP for Essex<\/span><\/p><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u201cThis investment will ensure our residents can live in a modern, state-of-the-art home close to their loved ones.\u201d<\/span><br \/><span style=\"font-family: Raleway, sans-serif; color: #000000;\">\u2014 <strong>Nolan Quinn<\/strong>, Minister of Colleges and Universities and MPP for Stormont\u2013Dundas\u2013South Glengarry<\/span><\/p><h2><span style=\"font-family: Raleway, sans-serif; color: #047bc1;\"><strong>About the Building Ontario Fund<\/strong><\/span><\/h2><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">The Building Ontario Fund (BOF) plays a critical role in advancing infrastructure development in Ontario by catalyzing investment in priority projects. Using sustainable and innovative financing solutions and partnering with external capital, including institutional investors and Indigenous partners, BOF is unlocking opportunities to bring high impact infrastructure projects to life. To address the province\u2019s most immediate needs, the Building Ontario Fund is focused on projects within five priority sectors: affordable housing, long-term care, energy, transportation, and municipal and community infrastructure. An arms-length, board-governed Crown agency enabled by the <em>Building Ontario Fund Act<\/em>, 2024, the Building Ontario Fund is helping to build a stronger province for Ontario\u2019s quickly growing population and lay a strong foundation for future generations.<\/span><\/p><h2><span style=\"font-family: Raleway, sans-serif; color: #000000;\"><strong><span style=\"color: #047bc1;\">About Manulife<\/span> <\/strong><\/span><\/h2><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth &amp; Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as \u2018MFC\u2019 on the Toronto, New York, and the Philippine stock exchanges, and under \u2018945\u2019 in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit <a href=\"http:\/\/manulife.com\" target=\"_blank\" rel=\"noopener\">manulife.com<\/a>.<\/span><\/p><h2><span style=\"font-family: Raleway, sans-serif; color: #047bc1;\"><strong>About Arch<\/strong><\/span><\/h2><p><span style=\"font-family: Raleway, sans-serif; color: #000000;\">Arch is a Canadian-based real estate asset manager that invests on behalf of pension plans, institutional investors, and family offices. Through their wholly owned affiliate, Riverdale Living, they own 11 long-term care homes across southern Ontario.<\/span><\/p><h2><span style=\"color: #047bc1; font-family: Raleway, sans-serif;\"><strong>For further information:<\/strong><\/span><\/h2><p><span style=\"color: #000000; font-family: Raleway, sans-serif;\"><strong>Building Ontario Fund<\/strong><\/span><br \/><span style=\"color: #000000; font-family: Raleway, sans-serif;\">Lynsey Wynberg<\/span><br \/><span style=\"color: #000000; font-family: Raleway, sans-serif;\"><a style=\"color: #000000;\" href=\"mailto:lynsey.wynberg@buildingonfund.ca\"><span style=\"color: #2271b1;\">lynsey.wynberg@buildingonfund.ca\u00a0<\/span><\/a><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-da00ef0 e-flex e-con-boxed e-con e-parent\" data-id=\"da00ef0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-49b0a5f e-con-full e-flex e-con e-child\" data-id=\"49b0a5f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1ff8efa elementor-widget elementor-widget-html\" data-id=\"1ff8efa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"bof-typing-block\">\n  <div class=\"bof-typing-title\">Stay Connected<\/div>\n\n  <div class=\"bof-type\">\n    <span class=\"bof-type__text\">To receive the latest news about Building Ontario Fund<\/span>\n  <\/div>\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f8ee9c3 e-con-full e-flex e-con e-child\" data-id=\"f8ee9c3\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ffea09c elementor-widget elementor-widget-shortcode\" data-id=\"ffea09c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><style>\r\n     #myCustomForm {\r\n        max-width: 600px;\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n    }\r\n#myCustomForm input[type=\"email\"] {\r\n    flex-grow: 1;\r\n    padding: 10px;\r\n    margin-right: 10px;\r\n    border: 1px solid #ddd;\r\n    border-radius: 4px;\r\n    box-sizing: border-box;\r\n    height: 50px; 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\/* Remove right margin *\/\r\n        }\r\n    }\r\n<\/style>\r\n\r\n<!-- Custom Form HTML -->\r\n<form id=\"myCustomForm\">\r\n    <input type=\"email\" id=\"your-email\" name=\"your-email\" required autocomplete=\"email\" placeholder=\"Your Email Address\" title=\"Your Email Address\">\r\n    <input type=\"submit\" value=\"Subscribe\">\r\n<\/form>\r\n\r\n<script>\r\n\/\/ JavaScript for Custom Form Redirection and Tooltip Localization\r\ndocument.addEventListener('DOMContentLoaded', function() {\r\n    var form = document.getElementById('myCustomForm');\r\n    if (form) {\r\n        \/\/ Configure tooltip based on URL\r\n        var emailInput = document.getElementById('your-email');\r\n        if (window.location.href.includes('\/fr')) {\r\n            emailInput.title = \"Votre adresse e-mail\"; \/\/ Tooltip in French\r\n        } \/\/ No else block needed, as the default tooltip is already in English\r\n\r\n        form.addEventListener('submit', function(event) {\r\n            event.preventDefault();\r\n\r\n            var email = emailInput.value;\r\n\r\n            \/\/ Base URL\r\n          \/\/var baseUrl = 'https:\/\/dev.buildingonfund.ca\/';\r\n           var baseUrl = window.location.origin + '\/';\r\n\r\n            \/\/ Determine the correct newsletter path\r\n            var newsletterPath = window.location.href.includes('\/fr') ? 'fr\/newsletter\/' : 'newsletter\/';\r\n\r\n            \/\/ Construct the full redirect URL\r\n            var redirectUrl = baseUrl + newsletterPath + '?email=' + encodeURIComponent(email);\r\n\r\n            window.location.href = redirectUrl;\r\n        });\r\n    }\r\n});\r\n<\/script>\r\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>TORONTO \u2013 Le Fonds ontarien pour la construction (FOC) a franchi l\u2019\u00e9tape du bouclage financier dans le cadre de son entente avec Arch Corporation (Arch) qui regroupe des pr\u00eats pour le r\u00e9am\u00e9nagement et l\u2019agrandissement de foyers de soins de longue dur\u00e9e dans quatre petites localit\u00e9s ontariennes. Manuvie a financ\u00e9 ce projet en collaboration avec le FOC pour contribuer \u00e0 acc\u00e9l\u00e9rer la construction d\u2019infrastructures prioritaires dans la province.<\/p>","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[175],"tags":[],"class_list":["post-17334","post","type-post","status-publish","format-standard","hentry","category-news-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/posts\/17334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/comments?post=17334"}],"version-history":[{"count":6,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/posts\/17334\/revisions"}],"predecessor-version":[{"id":23099,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/posts\/17334\/revisions\/23099"}],"wp:attachment":[{"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/media?parent=17334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/categories?post=17334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.buildingonfund.ca\/fr\/wp-json\/wp\/v2\/tags?post=17334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}