1,400-bed Student Housing Development on campus at TMU
Name
1,400-bed Student Housing Development on campus at TMU
Sector
Affordable Housing
Location
Toronto, ON
Participation
BOF played a pivotal role in moving this project forward through our $83 million in debt financing that will deliver a 21-storey tower as part of a multi-phased initiative that is expected to total approximately $200 million.
Sponsors
Cedar Podium
Fund’s investment will see the addition of nearly 1,400 beds, more than doubling the university’s housing capacity with rents far less than the market rate in Toronto
On Campus Student Housing at Toronto Metropolitan University
Building Ontario Fund is partnering with Cedar Podium on a landmark project which will reshape the student housing landscape in downtown Toronto. This project will deliver nearly 1,400 new student beds at Toronto Metropolitan University, more than doubling student housing capacity at the University.
BOF played a pivotal role in moving this project forward through our investment of approximately $200M in a multi-phased initiative. This first phase of the project will deliver a 21-storey tower and totals $83M in debt financing.
This is a unique partnership that brings together a visionary university and an experienced developer to address the urgent need for more reasonably priced student housing in one of Canada’s most expensive markets.
Key facts