ONE Properties and Revera Break Ground on “Glenora Park” – a Luxury Retirement Residence with Stunning River Valley Views in the Heart of Edmonton

December 16, 2019

EDMONTON, ALBERTA–ONE Properties, a dynamic real estate development company and Revera Inc., a leading owner, operator, developer and investor in the senior living sector, are pleased to announce construction is underway at the first project in the companies’ joint venture partnership to develop new retirement communities in key urban markets across Canada. The 290-suite, 23-story, best-in-class senior living residence will be named Revera Glenora Park Retirement Residence, reflecting its pride of place as part of Edmonton’s Glenora community.

“This stunning location offers the perfect backdrop for what will be an exceptional new option in Edmonton for older adults who are looking for an elegant, welcoming environment in which to live and age in place,” said Thomas G. Wellner, President and CEO of Revera Inc. “We are delighted to partner with ONE Properties on Glenora Park, which is an exciting addition to our expanding portfolio in a province that is playing an important role in Revera’s long-term growth strategy.”

The companies’ joint venture combines ONE Properties’ development expertise with Revera’s extensive operational experience to design the project and create outstanding, customer-centred senior living choices. As co-owners of Glenora Park, ONE Properties will act as the developer and will oversee the development’s construction, while Revera, which owns and/or operates 13 retirement residences and seven long term care homes in Alberta, will manage its marketing and operations.

“Glenora Park’s scenic location overlooking the river valley combined with contemporary suites and common areas creates a unique addition to the seniors’ housing market in Edmonton,” said Darren Durstling, President and CEO of ONE Properties. “We’re excited to break ground on the next phase of this development, and we look forward to continuing our partnership with Revera to bring similar products to other key urban markets.”

Located at 10150 Clifton Place NW, near 124th Street and 102nd Avenue, Glenora Park is expected to employ approximately 100 people once complete. The pet-friendly residence will offer a range of suite and care options from seniors’ apartments to independent living to assisted living and memory care—all designed to help support seniors to age in place, even as their needs change. Glenora Park will also:

• Include impeccable finishes and refined, yet practical design in the spacious, light-filled suites; the two luxurious penthouse suites also offer panoramic views of the river valley.
• Provide a wide range of top-quality amenities, including an indoor saltwater swimming pool, fitness centre, golf simulator, library and games room, outdoor terrace with barbecue facilities, salon and spa, and much more,
• Feature fresh, seasonal, locally inspired menus at the full-service dining room with outdoor terrace and river valley views, as well as at the licensed pub and bistro; with open seating and flexible meal plans, it’s always up to residents when, where and with whom they eat.
• Give residents and families convenience and peace of mind through innovative wearable Revera Link™ technology, which allows the wearer to instantly request assistance anytime, and from anywhere in the building, and eliminates the need to carry suite keys.
• Be constructed with the environment in mind; targeting LEED Silver certification, the building has been designed to conserve water and energy.

Planning is underway to open a sales centre in late summer of 2020, and the residence itself is expected to be completed and open in the fall of 2021.

ONE Properties (ONE) is a dynamic real estate company inspired to make life better through the values of integrity, collaboration and alignment with all our stakeholders including tenants, investors, partners and the communities we serve. ONE is focused on creating value through the strategic acquisition, development and management of retail, office, industrial, residential and mixed-use properties in progressive markets. ONE is headquartered in Edmonton with additional offices in Calgary and Toronto.

Revera is a leading Canadian-owned and -headquartered owner, operator and investor in the senior living sector. Through its portfolio of partnerships, Revera owns or operates more than 500 properties across Canada, the United States and the United Kingdom, serving more than 55,000 seniors. The company offers seniors’ apartments, independent living, assisted living, memory care, and long term care. With approximately 50,000 employees dedicated to providing exceptional care and service, Revera is helping seniors live life to the fullest. Through its Age is More program, Revera is committed to challenging ageism, the company’s social cause of choice.