Costs for a new long-term care home in Barry’s Bay have increased dramatically. And officials behind the new Valley Manor project are exploring ways to fill a “funding gap.”
Stark numbers were revealed at a Madawaska Valley council meeting Tuesday. CEO Trisha DesLaurier and Finance Director Stacey McDonald showed that before the pandemic the project was budgeted at about $35 million. With post-pandemic changes to the construction industry, it’s now expected to cost $49 million.
They did not ask for money, but said they may later ask that Madawaska Valley be a guarantor for a loan to help cover costs. They also said they’ll continue to work on fundraising initiatives with St. Francis Valley Healthcare Foundation, whose donors have already contributed to the project.
DesLaurier said construction on the 96-bed facility, which would replace the current Manor, is expected to start in 2024. First occupancy is planned for 2025.
DesLaurier said designs for the building, which had to be modified to meet post-pandemic standards, have been redrawn and the next big step is to submit tenders for construction. She expects construction to start in 2024.