A pair of Red Deer retirement homes are emerging from the stigma of bankruptcy, with new ownership and a new operating philosophy.
Masterpiece Inc. and related companies that owned Masterpiece Aspen Ridge and Masterpiece Inglewood filed assignments in bankruptcy in April.
The Red Deer properties have since been sold and are being managed by Symphony Senior Living, a Toronto-based company that develops and operates seniors housing.
Kim Van Dam, vice-president of operations with Symphony, said the new owner has a long-term commitment to the Red Deer facilities.
She declined to identify who that owner is, explaining that Symphony was hired to represent it.
A Land Titles search indicated that the properties were transferred to a numbered company from Ontario. Its two directors are officials with the Ontario Teachers’ Pension Plan.
Efforts by the Advocate to obtain comment from the Ontario Teachers’ Pension Plan were unsuccessful.
Van Dam said Symphony, which has been managing the two seniors residences since January, uses a different approach than developer Masterpiece Inc.
“Where we’re different is we’re not about real estate. We’re about what happens inside the building.”
For instance, she said, Symphony tries to give its staff the freedom to meet the needs of individual residents.
Scott Hepfner, who served as general manager of Masterpiece Aspen Ridge before and after Symphony’s arrival, agreed that he and his staff now have greater autonomy.
He said they also have more support than was previously the case.
Another change Symphony has made is offering in-suite services for independent residents.
They can pay for help with things like taking medications, dressing, doing laundry, shopping and even caring for pets.
Van Dam said this reflects Symphony’s objective of allowing seniors to remain in the same residence as their needs change.
“They should not have to move to another suite or another area because they require a little additional help with a few basic things in their day-to-day life.”
She added that such assistance should in some cases prevent people from having to move into beds maintained by the public health care system.
“We believe that we do support our residents so they’re not in the hospital.”
Haley Kirsch, general manager of Masterpiece Inglewood, also said that helping a seniors remain in one home eliminates the stress of having to relocate.
“We all know that for every move a senior makes, every one is harder after that, and every one affects them more than the last one did.”
Masterpiece Aspen Ridge, which is located at 3100 22nd St. has 154 beds: 90 for independent residents, 24 for residents requiring assisted living care and 40 in a secure area for people with dementia. The building is more than 90 per cent full, said Hepfner.
Masterpiece Inglewood, at 10 Inglewood Dr., has room for 151, including space for 33 residents in need of assisted living care. It’s about 50 per cent full, said Kirsch, but Van Dam pointed out that it’s only been open a year and a half — about half the time usually needed to fill such a building.
“It’s right on target, really.”
She acknowledged that Masterpiece Inc.’s bankruptcy hurt numbers, since prospective residents were uncertain about the status of the facilities and their owner.
“I think people are still a little uneasy about where Masterpiece is at and how Symphony fits into that,” she said, expressing optimism that the situation will improve as more information gets out.
Anita Pearce, Symphony’s VP of sales and marketing, also has a positive outlook. She said a competitor analysis of the local seniors housing market indicated that no one offers the same things that Masterpiece residences do.
“We saw nothing that was exactly like us.”
hrichards@www.reddeeradvocate.com