PRICEY NORTH TORONTO ALZHEIMER'S RESIDENCE ON VERGE OF BANKRUPTCY: REPORT

Jul 09, 2015

By Jane Brown

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As the number of people living with dementia rises with an aging population, a state of the art home for Alzheimer’s patients in north Toronto is on the verge of bankruptcy.

B’nai Brith opened the Alzheimer Centre of Excellence near Bathurst and Finch a year and a half ago, but has struggled to fill the 44 rooms and pay the bills. The four-storey retirement home received $5.4 millon in funding from the federal government and the assistance of Western University’s Ivey International Centre for Health Innovation. Now, a report in the Toronto Star says it’s under insolvency protection and up for sale.

The home cost about $16-million to build and outfit.  There were a number of work stoppages, cost overruns, and some legal action regarding unpaid contractors bills over the lengthy construction process.  A selling price has not been set.

The other big problem is the monthly charge for residents.  Many say $7500 is simply too high. Along with this, none of the washrooms are wheelchair accessible and all residents must be able bodied.

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