CORE Realty Partners Inc. recently launched Renaissance Retirement Residences. Renaissance Retirement Residences was founded to cater to an ever-growing senior population which Statistics Canada predicts that the senior population aged 75 and over will grow by 53% between now and 2034. In fact, by 2030 there will be 3.7 million Canadians who will need to relocate to a retirement community.
CORE Realty Partners Inc. and 2345376 Ontario Inc. have come to a joint venture agreement to acquire 123 Delaware Avenue, North Bay. Currently, the site consists of 2.78 acres with an existing 80 room hotel. The development plan includes achieving site plan approval, demolish, construct and manage a 4-story low rise building consisting of 140-unit independent living retirement residences.
North Bay is historically considered the “Gateway to the North”. North Bay is a vibrant city, servicing a regional catchment area of 112,000 people, nestled between Lake Nipissing and Trout Lake. This city of 51,553 residents is conveniently located just three and a half hours from major Ontario centres such as Toronto and Ottawa and a short distance to U.S. markets.