- What Chartwell has completed the sale of Heritage Glen Retirement Residence in Mississauga
- Why The firm previously said the building couldn’t continue as a retirement residence
- What next Renovation plans indicate the property could be converted into rental units
Minto completed its months-long acquisition of a senior-housing property in Mississauga on Sept. 18 for $79.5m, Green Street News can reveal.
Chartwell was widely reported to have sold Heritage Glen Retirement Residence, at 6515 Glen Erin Drive, to Minto earlier this year, but the sale wasn’t completed until mid-September.
Renovation plans presented to Mississauga’s committee of adjustment indicate Heritage Glen could be redeveloped into 331 all-age rental units, though Minto would not confirm.
The Mississauga News previously reported that Chartwell decided to sell the property because the state of the building “made it unsustainable to continue operations as a retirement residence.”
On March 19, around 200 senior residents were served eviction notices that said the property was closing permanently on July 31. The last resident moved out of the facility in August.
On Aug. 16, Chartwell said it had met conditions “for the sale of another non-core residence in Ontario” – likely referring to Heritage Glen – “with the closing expected in September 2024.”
Provincial records with the Retirement Homes Regulatory Authority show that the Heritage Glen Retirement Residence surrendered its license.
