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Sienna SENIOR LIVING Sienna Senior Living Inc. Provides Operations Update and Reports First Quarter 2021 Financial Results MARKHAM , Ontario , May 12 , 2021 ( GLOBE NEWSWIRE ) -- Sienna Senior Living Inc. ( " Sienna " or the " Company " ) ( TSX : SIA ) today provided an update on its operations and announced its financial results for the three months ended March 31 , 2021. The Consolidated Financial Statements and accompanying Management's Discussion and Analysis ( " MD & A ” ) are available on the Company's website at www.siennaliving.ca and on SEDAR at www.sedar.com . " With the crucial decrease in active COVID - 19 cases at Sienna's residences and the Canadian seniors living sector overall , we have been returning to a more stable operating environment and expect further improvements as various restrictions begin to be lifted at both our long - term care and retirement residences , " said Nitin Jain , President and Chief Executive Officer of Sienna . " In addition to continuing to protect residents and team members , we are focused on working with stakeholders to support and improve our healthcare sector and advancing our development plans that will modernize seniors living over time . " Operations Update The early roll - out of vaccines among residents and team members was a significant factor in the 99 % decline of active COVID- 19 resident cases since the beginning of 2021 . • Vaccinations - According to our most recent vaccination date , approximately • 95 % of Sienna's residents and • 74 % of Sienna's team members have been vaccinated with the first dose of vaccine . • COVID - 19 Cases As of May 11 , 2021 , 10 residences of Sienna's 83 owned or managed residences have active cases of COVID - 19 , including one retirement and nine long - term care residences . From the beginning of 2021 , active COVID- 19 cases among Sienna's residents declined by approximately 99 % with currently three active resident cases across our portfolio . • Lifting of Restrictions - The Governments of Ontario and British Columbia eased self - isolation requirements in seniors living residences , and communal dining and social activities in residences with high immunization rates are starting to resume . The Government of Ontario has also removed single - site orders for fully immunized staff members , allowing them to work at more than one location . • Additional Government Funding • On March 24 , 2021 , the Government of Ontario's 2021-22 budget included an additional $ 650 million to protect long - term care residents , amongst other funding programs , increasing total funding announced to date to approximately $ 2.1 billion . • The Government of Ontario also extended occupancy protection funding until August 2021 and a temporary wage increase of $ 3 / hour for personal support workers until June 2021 . • On April 19 , 2021 , the Federal Government announced $ 3 billion in funding over the next five years to support long - term care across Canada's provinces and territories in its budget . • Addition to Leadership Team – On April 19 , 2021 , Jennifer Anderson joined Sienna's leadership team as Executive Vice President of the Company's long - term care operations . Jennifer is a highly experienced operator known for her focused approach to improving customer and team member experience and optimizing operational performance in her previous roles as Chief of Operations and Service Excellence Officer at one of the largest workplace insurance organizations in North America . Development Update - - • Retirement Sienna's development of a retirement residence in Niagara Falls is progressing well with construction scheduled to start in Q2 2021. The estimated total capital investment is $ 49 million to $ 51 million , with an expected development yield of approximately 7.5 % . Sienna's share of this 150 - suite greenfield joint venture development is 70 % . • Long - term Care Construction of two new development projects is scheduled to commence by the end of 2021 , beginning with a new 160 - bed development in North Bay to replace the existing 148 older beds . The Company's estimated capital investment for this redevelopment is approximately $ 52 million to $ 55 million , with an expected development yield of approximately 8.0 % . These projects are part of Sienna's development plans to invest over $ 600 million in capital to redevelop its Ontario Class C long - term care portfolio through new and upgraded facilities over the next five to seven years . Launch of Sienna for Seniors Foundation On April 7 , 2021 , the Company finalized the formation of the Sienna for Seniors Foundation ( " Foundation ” ) . The Foundation allows Sienna to raise funds for a variety of important causes in both Ontario and British Columbia . In connection with an