Victoria Hall on Gottingen Street has been operating since 1860. (CBC)

A venerable retirement residence providing room and board for elderly women in Halifax for more than 150 years is closing its doors, CBC has learned.

Victoria Hall on Gottingen Street has been operating since 1860.

The board of trustees in charge of the iconic red building said high-maintenance costs are forcing them to shut down the home.

A spokesperson said most residents will gradually move to the Caritas Residence on the Mount Saint Vincent property, likely by January.

Residents requiring nursing care will join a waiting list to be placed in provincial institutions.

The retirement residence has about 70 rooms.

Once the residents are out, the building will be sold.