Sienna Announces Long-Term Care Redevelopment in Greater Toronto Area
MARKHAM, Ontario, July 17, 2026 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ( "Sienna " or the "Company ") (TSX: SIA) announced today that it will proceed with its next redevelopment project in the Greater Toronto Area (“GTA”).
Sienna expects to start construction on an existing 3.5-acre site at its Streetsville Community in Mississauga, Ontario, in the first quarter of 2027, further modernizing its GTA platform. The 256-bed redevelopment, which is subject to government approvals, is anticipated to be completed in late 2029 and will replace 118 existing beds in addition to adding 138 new beds.
The project has an estimated development cost of approximately $125 million and a development yield of approximately 8.0%.
Sienna’s Streetsville Community redevelopment follows the Company’s previously announced 448-bed Glen Rouge redevelopment in Toronto, Ontario. The estimated $250 million project is expected to be completed in 2030.
“The redevelopments of Streetsville and Glen Rouge represent an exciting step forward for our Company and for long-term care in the GTA, where they will support the growing needs of seniors,” said Nitin Jain, President and CEO of Sienna. "These large-scale projects will enhance the quality and scale of our platform, strengthen local economies through job creation, and provide modern, welcoming homes for residents, families and team members, while building on the exceptional culture and quality of care that define Sienna. "
About Sienna Senior Living
Sienna Senior Living Inc. (TSX: SIA) offers a full range of seniors ' living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna 's approximately 15,500 employees are passionate about cultivating happiness in daily life. For more information, please visit www.siennaliving.ca.
Forward-Looking Statements
Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals”, “target” or other similar words and are based on the Company’s expectations, estimates, forecasts and projections. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Hung
Chief Financial Officer and Executive Vice President, Investments
(905) 489-0258
david.hung@siennaliving.ca
Nancy Webb
Executive Vice President, Corporate Affairs and Marketing
(905) 477-4006 ext. 3030
nancy.webb@siennaliving.ca
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