$88-million aging-in-place project obtains development permit in Victoria

Scott Henderson Client Releases, Element Lifestyle Retirement

Magic happens when young children and older adults get together

January 24, 2019, VICTORIA, BC – Aquara by element, a $88-million aging-in-place senior’s residence in downtown Victoria, received its Development Permit this week as Mayor and Victoria Council voted unanimously in favour of the project.

Element Lifestyle Retirement Inc. (TSXV- ELM), the manager of development and operations of Aquara, announced that Aquara is launching previews of offerings immediately, and launching pre-sales and rental reservations within the coming months. The residence will be completed in 2021. Element Lifestyle (Vic Harbour West) Inc. (“Vic Harbour”) – a wholly-owned subsidiary of Element Lifestyle Retirement Inc. (TSXV- ELM) – is the General Partner of Aquara Limited Partnership, the property owner.

Known for its innovative intergenerational aging-in-place model, Element began its community consultation program to garner feedback from prospective residents and their families in June 2018. It has been working with focus groups to sharpen and refine its proposed services and activities for its aging-in-place community.

“Magic happens when young children and older adults get together. Our mission is to break through the stigma and ageism to create communities where people across all generations can thrive as they grow and age in place together,” says director and vice president of Element, Candy Ho. “We are pleased to receive unanimous approval for the project.”

Open-minded, collaborative planning and innovation are the key approach Element Lifestyle Retirement takes when rolling out each of their three unique retirement communities – Opal, Element’s $106 Million Flagship residence in Vancouver, Oasis, a $200 Million residence in Langley and Aquara.


Photo caption: Rendering of $88 million aging in place seniors residence, Aquara by element.
Photo supplied: Element Lifestyle Retirement – high resolution images available with PR Team

Located on 1.96 acres by the harbor of the Songhees neighborhood in Victoria West, Aquara will stand 5 storeys tall within Bayview master planned community amidst high rise residential towers, a park, and retail amenities.

The 153,500 square foot residence will include approximately 30,000 square feet of indoor and additional outdoor terrace, patios and rooftop garden for residents. Aquara includes a vibrant mix of activities, some tailored to the elderly and some designed specifically to bring together all ages.

Element’s branded intergenerational aging-in-place model recognizes that society benefits as a whole when there is integration of all age groups. Stress is reduced as adults maintain a demanding career, provide for their children and help their retiring or aging parents live to their fullest.

The proposed community will contain 160 units, with 125 Independent and Supportive Living suites available for purchase or for rent, and 35 units providing Licenced Care in a designated, secure area with its own tailored amenities and activities. It is anticipated that the construction costs will be financed through a combination of debt and limited partnership funding.

The Aquara Discovery Centre at 110 – 645 Tyee Road is already open to the public.  Victoria residents can preview suite layouts ahead of launch of pre-sales and rental reservations. The Discovery Centre features a show suite specifically designed with physically adaptive features accommodating aging in place.

Anyone interested in receiving updates about Aquara or looking to become a part of the community feedback program, can register interest at aquarabyelement.com

A report released in March, 2018 by Generation United, states that 74 per cent of survey respondents believe in the benefits of intergenerational housing, lifestyles and programs that allow older adults/retirees to directly connect with the wider community to share skills and talents (Source). However, the report states many people don’t know where it is possible to find such facilities and program.

Aquara will provide a complete continuum of lifestyles – from active, independent living to assisted and complex care. Element’s intergenerational approach to creating community residences that overcome the stigma of the “old folks’ home” is internationally recognized.

In 2015, Element won the ‘Globals Award for World’s Best Senior-Focused Intergenerational Master-planned Community Design’. In November 2018, Element’s flagship, OPAL by element, was visited by an Australian retirement living international tour, to be studied as one of Canada’s top innovative models.

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To read more on about Element Lifestyle Retirement Inc., click here for the media kit or visit http://elementliving.com/

Media Contacts:
Scott Henderson
dHz Media
250.317.3751
scott.henderson@dHzMedia.com

About Element Lifestyle Retirement Inc. (TSX.V:ELM) http://elementliving.com/
Element was established in June 2013 in Vancouver, British Columbia. It is in the business of providing specialized development expertise and flexible, innovative management services for senior retirement communities. The core business of Element is the development and management of third party assets in the “senior retirement community” space. Element aspires to be one of the most respected senior living specialists in North America, and to revolutionize the perception and experience of retirement and aging. Its brand differentiator, setting Element apart from others in the retirement industry, is the integration of two unique models: the “Continuum-of-Lifestyles” and “intergenerational living”, encompassing a smooth, seamless transition for seniors from independence to assisted living to complex care, and programming to actively facilitate connection of residents to their families. The management team of Element, collectively, has over 50 years of experience developing and operating retirement communities.