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Sienna SENIOR LIVING Sienna Senior Living Inc. Reports Third Quarter 2021 Financial Results , Additional Development Momentum and Platform Transformation MARKHAM , Ontario , Nov. 11 , 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 and nine months ended September 30 , 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 . " Our strong third quarter operating results and occupancy growth support our general optimism for Sienna's path forward , " said Nitin Jain , President and CEO of Sienna . " All the initiatives we put into motion over the past year , from making transformational changes to our operating platforms to our ambitious development plans , are grounded in the belief that it is a privilege to care for and serve Canada's seniors , ensuring they live with the utmost comfort , dignity and respect . " Operations Update • • Transformational Changes to Operating Platforms – In addition to the Company's previously announced retirement platform " Aspira ” , Sienna will launch a new long - term care platform aimed at providing holistic and integrated care at its communities . • Retirement – Development of the new retirement platform Aspira , which is based on a resident - centric model of choice for residents , is progressing well for its launch in Q1 2022. During the quarter , we have been focused on team member training on the new resident experience model and marketing initiatives , in addition to the final- stage development of our brand design and identity for a dedicated website . • Long - term Care - Commenced development of a new resident experience platform for Sienna's long - term care segment to significantly enhance the quality of life of residents , which is expected to be launched in Q2 2022 . Based on best practices and extensive input from stakeholders , the platform's focus is on improving residents ' dining experience , enhancing activities and programming , and finding ways to bring the local community into Sienna's long - term care homes to create a better community experience for residents . Strong Occupancy Gains - With the focus on marketing and sales initiatives , resumptions of in - person tours at Sienna's retirement residences and increased admissions to its long - term care communities , the Company's operating environment continued to strengthen , resulting in strong occupancy gains : • Retirement - Average same property occupancy up 280 basis points ( " bps " ) to 82.1 % in Q3 2021 from 79.3 % in Q2 2021 ; • Long - term Care - Average occupancy based on licensed beds was 86.2 % in Q3 2021 with quarter - end occupancy reaching 87.8 % , or 92.4 % excluding the unavailable beds due to capacity limitations . The Government of Ontario extended occupancy protection funding until January 31 , 2022 . • Declining Pandemic Expenses including Improved operating environment resulted in reduction of pandemic expenses , • $ 2.8 million quarter - over - quarter decline of net pandemic expenses to $ 1.0 million in Q3 2021 compared to Q2 2021 , partially due to timing of pandemic - related funding ; and • $ 8.8 million year - over - year decline of net pandemic expenses in Q3 2021 compared to Q3 2020 . • Limited Number of COVID - 19 Cases - As of November 10 , 2021 , one of Sienna's 83 owned or managed residences had active cases of COVID - 19 . Development Update Sienna's development plans include over $ 600 million in capital investments to redevelop its Ontario Class C long - term care portfolio . During and subsequent to Q3 2021 , we continued to progress at our various development and redevelopment sites : - • Under Construction Construction recently commenced at Sienna's 160 - bed Northern Heights Care Community in North Bay , which will replace 148 older Class C beds . We are monitoring current cost escalations , which we expect will impact our original cost estimate of approximately $ 55 million . - • Advanced Stages of Planning and Approval Sienna's near - term redevelopment plans of the long - term care portfolio in Ontario also include two additional projects , with construction expected to start during the first half of 2022 : replacement of the existing 60 long - term care beds with 160 new beds at Sienna's campus of care in Keswick ; • • and replacement of the existing 122 long - term care beds with 160 new beds at Sienna's long - term care community in Brantford , and adding a new 147 - suite retirement residence , creating an integrated campus of care onsite . In addition , construction at Sienna's joint venture development of a 150 - suite retirement residence in Niagara Falls is