How Canada's ‘grey wave' is making seniors' housing the hottest real estate play in town
McCrorie said funding is improving. In 2021, the Ontario government committed $4.9 billion to hire over 27,000 long-term care staff over four years and ensure residents receive on average four hours of direct care per day by 2024-25.
Article content
McCrorie also said there is no financial disincentive to hire fewer employees, since these dollars are specifically earmarked for nursing and personal care services. The challenge is finding and retaining qualified staff.
Article content
McCrorie said that although need for senior housing would continue to remain strong in an economic downturn, a hypothetical decline in home values could make it difficult for older Canadians to tap their equity or sell to afford the costs of a private-pay retirement home.
Article content
Article content
In Chartwell's 2024 annual report, it noted that general business risks included economic conditions, increased labour and operating costs and the inability to afford residency fees (including anticipated increases in such fees).
Article content
It also mentioned that its revenue and operating results 'depend significantly' on occupancy levels at Chartwell's residences, and increased competition or 'oversupply' in the local market could adversely impact its ability to find residents who can meet these homes' rental rates.
Article content
Orrico said another potential risk would include a significant move in interest rates, which would affect the overall real estate sector. A spike in long-term rates, for example, would prevent REITs from renewing their debt at a lower rate.
Article content
Still, he expects interest rates to trend downward into 2026 and has a positive outlook for the senior housing sector moving forward.
Article content
'I think the senior housing REITs continue to be a good bet because they have this inherent demand, by virtue of an aging population (and) limitations on supply,' said Orrico. 'Outside of some type of exogenous issue, like a pandemic, I think they continue to be a great place to be invested (in).'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Sun
21 minutes ago
- Toronto Sun
Canada ‘ready to engage' with China on trade as canola feud escalates
China announced a 75.8% preliminary anti-dumping duty on canola seed from Canada Published Aug 13, 2025 • Last updated 4 minutes ago • 2 minute read Bee hives in a canola field on a farm near Oak Bluff, Manitoba. Photo by Shannon VanRaes / Photographer: Shannon VanRaes/Bl Canada's trade and agriculture ministers said they are 'deeply disappointed' with China's decision to impose new duties on Canadian canola, but stand ready to engage with Beijing on the trade dispute. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Trade Minister Maninder Sidhu and Agriculture Minister Heath MacDonald issued a joint statement late Tuesday responding to China's announcement of a 75.8% preliminary anti-dumping duty on canola seed from Canada. The new levy follows Beijing's imposition earlier this year of a 100% tariff on canola oil and meal from the North American nation. 'We do not dump canola. Our hard-working farmers provide world-class food to Canadians and international trading partners,' Sidhu and MacDonald said. 'Canada is committed to ensuring fair market access for our canola industry and we remain ready to engage in constructive dialogue with Chinese officials to address our respective trade concerns.' While China remains Canada's largest export market for canola after the US, exports of the crop to other regions, including the European Union, United Arab Emirates, Japan and Mexico, have increased in 2025, the ministers said. 'We are steadfast in our commitment to defend and diversify Canadian trade,' they said. This advertisement has not loaded yet, but your article continues below. Canola meal prices in China — where the commodity is known as rapeseed — jumped following the announcement of the new duty. Canola futures in New York climbed as much as 1.7% on Wednesday, after dropping 4.5% in the previous session. China began imposing levies on Canadian canola products earlier this year in retaliation for Canadian tariffs on Chinese-made electric vehicles, steel and aluminum. The Asian superpower previously restricted imports of Canadian canola in 2019, amid the feud over Canada's arrest of Huawei executive Meng Wanzhou on a US extradition warrant. Canadian Prime Minister Mark Carney, who won election this year on promises to fight the trade war with the US and diversify Canada's export markets, appeared to open the door to a thaw in relations with China in a call with Premier Li Qiang in June. The two agreed to work together on the fentanyl crisis, and Carney raised trade concerns, including on canola. Provincial leaders in Canada have urged Carney to repair trade relations with China, particularly as US tariffs impede Canada's access to the world's largest economy, where it sent 75% of its exports last year. Saskatchewan Premier Scott Moe, whose province is Canada's top canola producer, has said the country must reset its relationship with China. Columnists Editorial Cartoons Crime Relationships Sunshine Girls
Cision Canada
2 hours ago
- Cision Canada
166 new homes coming to Calgary through the Apartment Construction Loan Program Français
CALGARY, AB, Aug. 13, 2025 /CNW/ - Solving Canada's housing challenge requires immediate action to bring down costs. To provide Canadians with increased access to affordable and sustainable housing, the government today announced along with the City of Calgary a combined investment of over $75 million for the conversion of 166 housing units for new immigrants, students, and young couples. The announcement was made by Corey Hogan, Parliamentary Secretary, Member of Parliament for Calgary Confederation on behalf of The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Jyoti Gondek, Mayor of Calgary. Located at 606 4 Street SW, the building formerly known as the Barclay Centre, a 55-year-old, 16-storey office building will be reimagined as into a 166-unit purpose-built rental building consisting of modern studio, one- and two-bedroom suites that will be open to residents in late 2027. With Courthouse Park and Harley Hotchkiss Gardens across the street, and just steps away from two CTrain stations and the CORE Shopping Center, the project highlights the walkable, connected urban lifestyle that is drawing more residents and investment into downtown Calgary. Other building amenities will include 17 accessible units, a shared fitness centre, two common lounges for media and social functions, a co-working space and a shared exterior patio and BBQ. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with the non-profit sector to bring down costs and build homes at a scale and speed not seen since the Second World War. Quotes: "Our Government is committed to driving housing supply to bring housing costs down. This project will create more much-needed rental homes for the people living and working in Calgary. It's an example of what's possible when governments and the private sector work together. It's also another step forward in our bold, ambitious plan to build Canada strong." – Corey Hogan, Parliamentary Secretary, Member of Parliament for Calgary Confederation on behalf of The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada "The momentum we're seeing downtown is the result of years of strategic investment and collaboration. This conversion is another example of how working with the private sector is reshaping our downtown while delivering housing, driving economic growth, and building the future for all Calgarians." – Jyoti Gondek, Mayor of Calgary "We are proud to partner with the CMHC and the City on this transformative project. It's a powerful example of how public-private collaboration can creatively address housing needs while transforming underused office space into vibrant residential communities in the heart of downtown." – Jay Jiang, Chief Financial Officer, Dream Office REIT Quick Facts: The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence. NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032. The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers. A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs. As of March 2025, CMHC has committed $23.35 billion in loans through ACLP to support the creation of more than 59,000 rental homes. It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum. It complements other NHS initiatives that focus on funding affordable housing units for lower-income households. Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes. The Downtown Calgary Development Incentive Program is a cornerstone of the broader Downtown Strategy. Since launching in 2021, the program has generated $4 in private investment for every $1 of public funding that is building a downtown that serves Calgary today and in the future. The program currently boasts three complete conversions, including the recently opened Element Calgary Downtown. Another four conversions are expected to open to residents in 2025, further advancing downtown as a vibrant, mixed-use community where Calgarians can live, work and play. To date, 21 office conversion projects have been approved, repurposing over 2.68 million square feet of vacant office space into 2,628 new homes, 226 hotel rooms, and a hostel. Funding provided for 606 4 th Street Southwest is as follows: $64.3 million from the federal government, through the National Housing Strategy's Apartment Construction Loan Program Up to $10.5 million from the City of Calgary Incentive Funds $9 million from 606 Fourth Inc in cash equity Additional Information: Visit for the most-requested Government of Canada housing information. CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram. Learn more about how The City of Calgary and partners are shaping a greater downtown at SOURCE Canada Mortgage and Housing Corporation (CMHC)
Cision Canada
3 hours ago
- Cision Canada
CISRO issues principles to strengthen catastrophic event response and insurance adjuster mobility Français
TORONTO, Aug. 13, 2025 /CNW/ - The Canadian Insurance Services Regulatory Organizations (CISRO) has released principles to enhance the responsiveness of adjuster licensing for catastrophe and disaster events across Canada's insurance sector. These principles support labour mobility and reinforce the leadership of regulators and adjusters in delivering timely, coordinated service to Canadians, especially during crises. The frequency and severity of catastrophic events such as wildfires, floods and severe storms continues to rise, CISRO's Principles for Adjuster Authorization During Natural Catastrophes and Disasters provides guidance to Canadian regulators to facilitate timely deployment of qualified adjusters while maintaining oversight that protects consumers. These are grounded in seven core principles: Reflect Appropriate Consumer Outcomes - Regulatory responses to catastrophic events should prioritize timely service to policyholders and minimize procedural delays that could hinder recovery efforts. Enhance clarity and transparency - Regulators should ensure that emergency licensing requirements and processes are communicated consistently and are accessible. Promote regulatory agility - Licensing protocols should be designed to enable swift, flexible responses to catastrophic events while maintaining appropriate oversight. Foster Interjurisdictional Coordination - Jurisdictions are encouraged to align definitions and thresholds for catastrophe declarations. Support Proportional Oversight - Expedited licensing for catastrophic events should be balanced with post-event review within an appropriate regulatory framework. Encourage Innovation and Preparedness – Exploration of alternative licensing structures can strengthen the industry's ability to respond to catastrophic events. Advance Practical Mobility –Practical coordination and mutual recognition are prioritized over complete harmonization in recognition of legislative diversity across provinces and territories. These principles seek to ensure the technical competence and regulatory compliance of adjusters, but also to uphold the principles of Fair Treatment of Customers. By embedding customer-centric values into licensing standards, regulators continue to align with broader consumer protection goals and reinforce public trust in the insurance sector. Developed by CISRO's multi-jurisdictional Adjuster Licensing Committee, the Principles for Adjuster Authorization During Natural Catastrophes and Disaster offer a clear framework that supports regulatory flexibility, coordination across jurisdictions, and consumer-focused outcomes. This initiative is an important step in CISRO's broader efforts to foster insurance workforce mobility across Canada. The Principles for Adjuster Authorization During Natural Catastrophes and Disasters are available on CISRO's website at About CISRO The Canadian Insurance Services Regulatory Organizations (CISRO), is a forum of Canadian regulatory authorities who are dedicated to consistent qualifications and conduct of business standards for insurance intermediaries. CISRO members collaborate on initiatives that support a consistent approach to consumer protection through the regulation of insurance intermediaries. Media Contacts:
