Toronto (Aug. 18, 2008) - The Toronto Rehabilitation Institute and Infrastructure Ontario announced today that financial close has been achieved with Aecon Buildings, a division of Aecon Group Inc. (Aecon), for the University Centre redevelopment project. Financial close signals that all contractual steps have been completed and construction can begin.
The University Centre capital redevelopment project includes:
- constructing a new 13-storey patient care and research tower
- further renovations to the existing 12-storey east wing and four-storey north wing
- new research space and dedicated education space
- moving the hospital's Geriatric and Neuro Rehabilitation Programs into custom designed clinical space
- moving the hospital's Musculoskeletal Rehabilitation Program into new patient care facilities at the University Centre and closing its Hillcrest Centre
- a new, more accessible entrance for patients and visitors
The project team, led by Aecon, includes financing arranged by Stonebridge Financial Corporation. Aecon signed a contract with the hospital to build and finance the redevelopment project for $112.1 million. The contract guarantees a fixed price and fixed completion date.
Aecon has begun to mobilize equipment on site. Construction is expected to be completed in fall 2011. At the peak of construction, more than 150 workers will be on site daily.
The expansion project will provide facilities designed specifically for adults undergoing rehabilitation for serious injury and illness including stroke, brain injury, multiple trauma and cancer. The project will also accommodate Toronto Rehab's new iDAPT (Intelligent Design for Adaptation, Participation and Technology) research facility. iDAPT is one of the world's most advanced rehabilitation facilities and will change the landscape of rehabilitation research.
"Hospitals are one of the pillars in our communities," said George Smitherman, Deputy Premier and Minister of Energy and Infrastructure. "This project is part of the government's five-year $30-billion-plus infrastructure investment plan, which represents the biggest investment in health care infrastructure in more than a generation."
"Renewing our hospitals is an essential part of ensuring quality health care for Ontario's future," said David Caplan, Minister of Health and Long-Term Care. "In addition to enhancing rehabilitative care, this project will provide important training and research opportunities for our health care workers of today and tomorrow."
"We are now another step closer to creating one of the most advanced rehabilitation hospitals in Canada," said Mark Rochon, President and CEO of Toronto Rehab. "Our redeveloped facilities will enable us to better meet the needs of patients as well as our acclaimed research and innovative education programs."
Toronto Rehab is at the forefront of one of the most important and emerging frontiers in health care today - rehabilitation science. As a fully affiliated teaching and research hospital of the University of Toronto, Toronto Rehab is Canada's largest academic provider of adult rehabilitation services, complex continuing care and long-term care.
Infrastructure Ontario is working with Toronto Rehab and the Ministry of Health and Long-Term Care to redevelop the hospital, which will remain publicly owned, publicly controlled and publicly accountable.
Visit www.infrastructureontario.ca for more information.
