cochranelogoCGV Builders has signed a lease with the Cochrane District Social Services Development Board (CDSSAB) and come to terms with the Town of Cochrane to build a modern seniors housing residence in Cochrane.

A 32 unit seniors’ residence with full amenities will be open for business sometime late fall 2015.  The complex will be designed to be expandable to 56 units as need arises.  The facility will be a modern facility offering its tenants full meals, laundry, housekeeping and attendants, while providing access to key seniors living services.  CGV Builders in Cochrane is the developer who are now clearing land and beginning construction as of this release.

The CDSSAB and CGV have officially entered into a formal lease arrangement, while the Town of Cochrane has committed financial support required to make this happen.  The financial support from the Town of Cochrane is money from land sales that will have no bottom line impact on the municipal budget.  Some consideration for tax relief is being discussed and on the table as well.

Cochrane Mayor Peter Politis expressed his excitement; “I’m thrilled that we have finally found the innovations required to construct a much needed seniors’ residence in Cochrane.  We have over 1,200 seniors which is projected to double by 2036 and that’s not taking into account our current growth curve as well.  This arrangement sees a $10 million dollar asset going up in our community that is financed by a third party, operated by the CDSSAB who are the experts, with little to no liability or added financial impact on the Town.  It’s uniquely innovative and very exciting.”

Mayor Politis went on to thank those involved in this success story; “On behalf of Council, I want to thank everyone involved for coming together and finding the solutions needed to finally address this critical need in our community.  At the same time, I want to directly thank David Butler of CGV Builders and Lee-Ann St. Jacques of the CDSSAB for their extraordinary efforts in bringing this together.  They were relentless in finding solutions to each and every hurdle and are clearly the wind in the sails of this terrific outcome – They are true community champions.”

David Butler of CGV Builders stated; “This joint initiative goes beyond satisfying the direct needs of the seniors, it has a paramount impact on the local economy” “it stimulates the commerce of many businesses and sub-trades in the community.” “In fact, this project will contribute to a capital injection of approximately $7 million dollars locally”.

Councillor Devon Prevost, a member of the seniors committee also stated; “having been in the retirement business in the past, I know the importance of a facility like this for our community. The services provided in a retirement home are essential for seniors who wish to continue to live independently and in Cochrane.”