Laurentian Bank to Finance PPP project in Ontario's Health Sector

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Laurentian Bank to Finance PPP project in Ontario's Health Sector

Laurentian Bank has closed a financing agreement with Bird Construction, Casey House and Infrastructure Ontario for the Casey House facility replacement project in Toronto, Canada.

This past March, Infrastructure Ontario announced the signing of a fixed-price contract with Bird Construction to build and finance the project for CAD$32 million, which will be paid out when construction is completed in late 2016.

The facility replacement project will provide more efficient, seamless HIV/AIDS health care by allowing for a new day health program and consolidating all current programs and services under one roof. This 58,000-square-foot project involves renovating an existing heritage property and the construction of a new facility. The new facility will accommodate:

  • 14 private in-patient beds, including two respite beds
  • office space for home care programs
  • therapy rooms and community space for a day health program
  • new spaces for administrative and support services

Sophie Boucher, Vice President, Syndication & International Markets within Business Services at Laurentian Bank

"We are very proud to be participating in such an important project within Ontario's health sector. Our involvement in this project is a reflection of Laurentian Bank's commitment to actively pursue PPP financings in the Canadian market."

The Laurentian Bank's Business Services group is focused on delivering tailor-made products and services to commercial clients across Canada through its specialized teams in the real estate, energy, infrastructure, transportation, construction, health, agricultural and manufacturing sectors. The bank offers a comprehensive range of financing, leasing, investment and private banking solutions as well as a foreign exchange platform.

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