More retirement homes on the way in Canada

Canada is in store for a seniors’ retirement home construction boom to accommodate a surge in the number of aging baby boomers, and those building the facilities say they’ll include all the boomer-friendly comforts and conveniences of home.

Luc Maurice, a Quebec developer who’s spending $1 billion on new projects, is looking to double the number of units he operates in Quebec. And he expects at least $3 billion a year will need to be spent across the country to build and upgrade retirement facilities.

“It’s not about waiting to die,” he said when describing what seniors are looking for in today’s retirement homes.

Future seniors are expected to be wealthier, to live longer, healthier lives and to increasingly value their freedom and autonomy. Many will seek companionship because they have fewer children than current-day seniors, or no children at all.

Read Full Story